Assembly Biosciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
08 January 2022 - 9:00AM
Assembly Biosciences, Inc. (Nasdaq: ASMB), a clinical-stage
biotechnology company developing innovative therapeutics targeting
hepatitis B virus (HBV) and other viral diseases, today announced
grants of stock options to two new employees to purchase an
aggregate of 7,000 shares of the Company’s common stock with an
exercise price of $2.45 per share, the closing price of Assembly
Bio’s common stock on January 3, 2022. The stock options were
granted as material inducements to the new employees to accept the
Company’s offers of employment.
The stock options have a ten-year term and vest over four years,
with one-fourth vesting on the first anniversary of the date of
grant and the remaining three-fourths vesting in approximately
equal monthly installments. The stock options are, in all cases,
subject to the new employees’ continued service with Assembly Bio
through the applicable vesting dates and to acceleration upon the
occurrence of certain events as set forth in the award agreements
evidencing the stock options. None of the new employees are
executive officers.
The stock options were granted outside of Assembly Bio’s
stockholder-approved equity incentive plans pursuant to Assembly
Bio’s 2020 Inducement Award Plan. The stock option awards were
approved by the Compensation Committee of Assembly Bio’s Board of
Directors, which is comprised solely of independent directors, as a
material inducement to entering into employment with Assembly Bio
in accordance with Nasdaq Listing Rule 5635(c)(4), which requires
this public announcement.
About Assembly BiosciencesAssembly Bio is
a clinical-stage biotechnology company committed to bringing finite
and curative therapies to the 270 million people living with
hepatitis B virus (HBV) worldwide. A pioneer in the development of
a new class of potent, oral core inhibitor drug candidates,
Assembly Bio’s approach aims to break the complex viral replication
cycle of HBV to free patients from a lifetime of therapy. Assembly
Bio’s strategy includes a leading portfolio of more potent,
next-generation core inhibitors, proof-of-concept combination
studies for HBV cure and research programs focused on the discovery
of additional novel antiviral mechanisms for HBV, and other viral
diseases. For more information, visit assemblybio.com.
ContactsAssembly BioLauren GlaserSenior Vice
President, Investor Relations and Corporate Affairs(415)
521-3828lglaser@assemblybio.com
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