Sierra Oncology Appoints Christina Thomson as General Counsel
28 July 2020 - 9:00PM
Sierra Oncology, Inc. (SRRA), a late-stage drug development company
focused on the registration and commercialization of momelotinib, a
JAK1, JAK2 & ACVR1 inhibitor with a potentially differentiated
therapeutic profile for the treatment of myelofibrosis, today
announced the appointment of Christina Thomson as General Counsel.
Ms. Thomson joins the Company with extensive experience providing
strategic, transactional and intellectual property advice to life
sciences companies.
“Christina is a highly effective General Counsel
with a wealth of business and legal expertise, including corporate
and competitive strategy, licensing, and commercialization
planning. Her experience makes her the ideal person to lead our
legal functions and will be especially valuable as we prepare for
top-line results from the Phase 3 MOMENTUM trial and the potential
commercialization of momelotinib,” said Dr. Stephen Dilly,
President and CEO of Sierra Oncology.
"I am excited to join the Sierra team at such an
important time. We have a differentiated drug candidate poised to
yield pivotal data, a sizable market opportunity and a strong
financial position,” said Ms. Thomson. “I look forward to working
closely with this accomplished team as we focus on bringing a new
treatment option to the myelofibrosis community and prepare for our
potential transition into a commercial organization.”
Christina Thomson is a seasoned legal executive
who has served as General Counsel for several public, private and
non-profit life sciences companies, including Athira Pharma,
Infectious Disease Research Institute, APT Pharmaceuticals and
Avigen, in addition to representing clients in private practice.
Christina began her career as a patent attorney and has been
registered to practice with the USPTO for more than two decades.
With a Master's degree in Biology, Ms. Thomson worked as a
scientist at Myriad Genetic Laboratories prior to law school, where
she helped with troubleshooting and validation of the data analysis
process for the launch of the BRACAnalysis test.
Equity Inducement GrantSierra
Oncology granted an equity award on July 28, 2020 to Christina
Thomson as a material inducement to her employment as General
Counsel with the Company. The award was approved by the
Compensation Committee of the Company’s Board of Directors under
Sierra’s 2018 Inducement Plan that is used exclusively for the
grant of equity awards as an inducement material to an individual's
entering into employment with Sierra, pursuant to Rule 5635(c)(4)
of the NASDAQ Listing Rules.
The option will have an exercise price equal to
the closing price of Sierra’s common stock on the date of grant.
The option will vest and become exercisable as to 25% of the shares
on the first anniversary of Ms. Thomson’s start date, and then will
vest and become exercisable as to the remaining 75% of the shares
in 36 equal monthly installments following the first anniversary,
subject to Ms. Thomson’s continued employment with Sierra on such
vesting dates. The option is subject to the terms and conditions of
Sierra’s 2018 Equity Inducement Plan, and the terms and conditions
of the stock option agreement covering the grant.
About Sierra OncologySierra
Oncology is a late stage drug development company focused on
achieving the successful registration and commercialization of
momelotinib, a potent, selective and orally-bioavailable JAK1, JAK2
& ACVR1 inhibitor with a differentiated mechanism of action
that enables it to potentially address all three key drivers of
myelofibrosis: anemia, constitutional symptoms and enlarged spleen.
Momelotinib's therapeutic profile targets the underserved
myelofibrosis patient population, in particular those with anemia
and thrombocytopenia. More than 1,200 subjects have received
momelotinib since clinical studies began in 2009, including more
than 820 patients treated for myelofibrosis.
Sierra has launched MOMENTUM, a randomized
double-blind Phase 3 clinical trial designed to enroll 180
myelofibrosis patients who are symptomatic and anemic, and who have
been treated previously with a JAK inhibitor. The U.S. Food and
Drug Administration has granted Fast Track designation to
momelotinib. Momelotinib is protected by patents anticipated to
provide potential exclusivity to 2040 in the United States and
Europe (inclusive of potential Patent Term Extension or
Supplementary Protection Certificate).
For more information, please
visit www.sierraoncology.com.
Cautionary Note on Forward-Looking
StatementsThis press release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995, including,
but not limited to, statements regarding Sierra Oncology's
expectations from current data, anticipated clinical development
activities, potential market size of momelotinib, expected timing
and success of MOMENTUM, potential benefits of momelotinib, and
Sierra Oncology’s financial strength. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements. These statements are based on
management's current expectations and beliefs and are subject to a
number of risks, uncertainties and assumptions that could cause
actual results to differ materially from those described in the
forward-looking statements. Such forward-looking statements are
subject to risks and uncertainties, including, among others, the
risk that Sierra Oncology's cash resources may be insufficient to
fund its current operating plans and it may be unable to raise
additional capital when needed, the risk that disruptions and
impacts of COVID-19 will be significant and lengthy, Sierra
Oncology may be unable to successfully develop and commercialize
momelotinib, momelotinib may not demonstrate safety and efficacy or
otherwise produce positive results, Sierra Oncology may experience
delays in the clinical development of momelotinib, Sierra Oncology
may be unable to acquire additional assets to build a pipeline of
additional product candidates, Sierra Oncology's third-party
manufacturers may cause its supply of materials to become limited
or interrupted or fail to be of satisfactory quantity or quality,
Sierra Oncology may be unable to obtain and enforce intellectual
property protection for its technologies and momelotinib and the
other factors described under the heading "Risk Factors" set forth
in Sierra Oncology's filings with the Securities and Exchange
Commission from time to time. Sierra Oncology undertakes no
obligation to update the forward-looking statements contained
herein or to reflect events or circumstances occurring after the
date hereof, other than as may be required by applicable law.
Contact:James SmithVice
President, Corporate AffairsSierra
Oncology604.558.6536investors@sierraoncology.com
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