Friday, September 30, 2022
HomeBiotechnologyViracta Therapeutics Declares New Employment Inducement Grant – Bio Tech Winners

Viracta Therapeutics Declares New Employment Inducement Grant – Bio Tech Winners

Facebook
Twitter
Pinterest
WhatsApp

Final Up to date on September 19, 2022 by GlobeNewsWire

SAN DIEGO, Sept. 19, 2022 (GLOBE NEWSWIRE) — Viracta Therapeutics, Inc. (Nasdaq: VIRX), a precision oncology firm focusing on virus-associated malignancies, as we speak introduced that, in reference to the appointment of Mark Rothera as Viracta’s new President and Chief Government Officer, the unbiased members of Viracta’s Board of Administrators permitted the grant of a non-qualified inventory choice to Mr. Rothera to buy 1,375,000 shares of frequent inventory. The choice vests over 4 years, with 25% vesting on the one-year anniversary of Mr. Rothera’s employment graduation date and the remaining 75% vesting in equal month-to-month increments over the succeeding 36 months, topic to Mr. Rothera’s steady service to Viracta by every vesting date. The choice has an train worth of $5.21 per share, which is the same as the closing worth of Viracta’s frequent inventory on September 19, 2022.

The inducement award was made underneath Viracta’s 2021 Inducement Fairness Incentive Plan and associated inventory choice settlement, which have phrases and circumstances usually according to these of Viracta’s 2021 Fairness Incentive Plan. The Inducement Plan is used completely to grant fairness awards to people who weren’t beforehand an worker or non-employee director of Viracta as an inducement materials to such particular person’s coming into into employment with Viracta in accordance with Nasdaq Itemizing Rule 5635(c)(4).

About Viracta Therapeutics, Inc.

Viracta is a precision oncology firm focusing on virus-associated malignancies. Viracta’s lead product candidate is an all-oral mixture remedy of its proprietary investigational drug, nanatinostat, and the antiviral agent valganciclovir (collectively known as Nana-val). Nana-val is presently being evaluated in a number of ongoing scientific trials, together with a pivotal, world, multicenter, open-label Part 2 basket trial for the therapy of a number of subtypes of relapsed/refractory Epstein-Barr virus-positive (EBV+) lymphoma (NAVAL-1), in addition to a multinational, open-label Part 1b/2 trial for the therapy of EBV+ recurrent or metastatic nasopharyngeal carcinoma and different EBV+ strong tumors.

For extra data please go to www.viracta.com.

Investor Relations Contact: Ashleigh BarretoHead of Investor Relations & Company CommunicationsViracta Therapeutics, Inc.abarreto@viracta.com

SOURCE Viracta Therapeutics, Inc.

Facebook
Twitter
Pinterest
WhatsApp
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments