Allarity Therapeutics Announces New CFO and Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Allarity Therapeutics (NASDAQ: ALLR) has appointed Alex Epshinsky as its new Chief Financial Officer. Epshinsky, a CPA with nearly a decade of financial leadership experience in biotech and pharma, joins from Avenue Therapeutics. His expertise will support Allarity's advancement of stenoparib, a novel PARP inhibitor for advanced recurrent ovarian cancer.
As part of his employment package, Allarity granted Epshinsky 55,555 restricted stock units (RSUs) on September 12, 2024. These RSUs will vest in equal one-third installments over three years, subject to continuous employment. The inducement awards were approved by Allarity's Board in accordance with Nasdaq Listing Rule 5635(c)(4).
Allarity Therapeutics (NASDAQ: ALLR) ha nominato Alex Epshinsky come nuovo Chief Financial Officer. Epshinsky, un CPA con quasi un decennio di esperienza nella leadership finanziaria nel settore biotech e farmaceutico, proviene da Avenue Therapeutics. La sua esperienza supporterà l'avanzamento di Allarity di stenoparib, un nuovo inibitore PARP per il cancro ovarico recidivante avanzato.
Come parte del suo pacchetto retributivo, Allarity ha concesso a Epshinsky 55.555 unità di azioni riservate (RSUs) il 12 settembre 2024. Queste RSUs matureranno in rate uguali di un terzo in tre anni, soggette a un impiego continuo. I premi di induzione sono stati approvati dal Consiglio di Allarity in conformità con la Nasdaq Listing Rule 5635(c)(4).
Allarity Therapeutics (NASDAQ: ALLR) ha nombrado a Alex Epshinsky como su nuevo Director Financiero. Epshinsky, un CPA con casi una década de experiencia en liderazgo financiero en biotecnología y farmacéutica, llega de Avenue Therapeutics. Su experiencia apoyará el avance de Allarity en stenoparib, un nuevo inhibidor de PARP para el cáncer de ovario recurrente avanzado.
Como parte de su paquete de empleo, Allarity otorgó a Epshinsky 55.555 unidades de acciones restringidas (RSUs) el 12 de septiembre de 2024. Estas RSUs se asignarán en cuotas iguales de un tercio durante tres años, sujeto a empleo continuo. Los premios de inducción fueron aprobados por la Junta de Allarity de acuerdo con la Regla de Cotización 5635(c)(4) de Nasdaq.
Allarity Therapeutics (NASDAQ: ALLR)는 Alex Epshinsky를 새로운 최고재무책임자(CFO)로 임명했습니다. Epshinsky는 생명공학 및 제약 분야에서 거의 10년의 재무 리더십 경험을 가진 CPA로, Avenue Therapeutics에서 합류했습니다. 그의 전문성은 Allarity의 진행성 재발성 난소암을 위한 새로운 PARP 억제제인 stenoparib의 발전을 지원할 것입니다.
고용 패키지의 일환으로 Allarity는 2024년 9월 12일 Epshinsky에게 55,555개의 제한 주식 단위(RSUs)를 부여했습니다. 이러한 RSUs는 3년에 걸쳐 동일한 1/3 비율로 정착되며, 지속 고용에 따라 달라집니다. 유인 보상은 Nasdaq 상장 규칙 5635(c)(4)에 따라 Allarity 이사회에서 승인되었습니다.
Allarity Therapeutics (NASDAQ: ALLR) a nommé Alex Epshinsky comme nouveau Directeur Financier. Epshinsky, un CPA avec près d'une décennie d'expérience en leadership financier dans les secteurs biotechnologique et pharmaceutique, rejoint Avenue Therapeutics. Son expertise soutiendra les avancées d'Allarity concernant stenoparib, un nouvel inhibiteur de PARP pour le cancer de l'ovaire récurrent avancé.
Dans le cadre de son package d'emploi, Allarity a accordé à Epshinsky 55.555 unités d'actions restreintes (RSUs) le 12 septembre 2024. Ces RSUs seront acquises en trois versements égaux sur trois ans, sous réserve d'emploi continu. Les récompenses d'incitation ont été approuvées par le Conseil d'Allarity conformément à la règle de cotation Nasdaq 5635(c)(4).
Allarity Therapeutics (NASDAQ: ALLR) hat Alex Epshinsky als neuen Finanzvorstand (CFO) ernannt. Epshinsky, ein CPA mit fast einem Jahrzehnt an finanzieller Führungserfahrung in Biotechnologie und Pharma, kommt von Avenue Therapeutics. Seine Expertise wird Allarity's Fortschritt bei stenoparib, einem neuartigen PARP-Inhibitor für fortgeschrittenen rezidivierenden Eierstockkrebs unterstützen.
Als Teil seines Beschäftigungspakets gewährt Allarity Epshinsky am 12. September 2024 55.555 eingeschränkte Aktieneinheiten (RSUs). Diese RSUs werden in drei gleichen Raten über drei Jahre fällig, vorausgesetzt, die Anstellung bleibt kontinuierlich. Die Anreizzahlungen wurden vom Vorstand von Allarity gemäß Nasdaq-Listing-Regel 5635(c)(4) genehmigt.
- Appointment of experienced CFO with biotech and pharma background
- Potential for improved financial management to support stenoparib development
- Alignment of new CFO's interests with company performance through RSU grants
- Potential dilution of existing shareholders due to RSU grants
- New CFO Brings Multiple Years of Experience from Biotech Companies
- As Part of the New Hire, the Company Issues Inducement Grants
Boston (September 13, 2024) — Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR), a clinical-stage pharmaceutical company dedicated to developing personalized cancer treatments, today announced the appointment of Alex Epshinsky as the Company’s new Chief Financial Officer (CFO), and that the Company has granted equity awards on September 12, 2024 as a material inducement to the employment of Mr. Epshinsky.
Mr. Epshinsky is a Chartered Public Accountant (CPA) and brings nearly a decade of financial leadership experience in the biotech and pharmaceutical sectors to Allarity. Most recently, he served as controller at Avenue Therapeutics, with prior key financial roles at Aruvant and Turnstone Biologics. Alex holds a Master of Science degree in Accounting from Kean University and a Bachelor of Arts degree in Economics from Rutgers University. His expertise will be instrumental as the Company continues to advance stenoparib, a novel PARP inhibitor for the treatment of advanced recurrent ovarian cancer.
Thomas Jensen, CEO of Allarity Therapeutics, stated, “We are very pleased to have Alex join our team at such a critical time for Allarity. His extensive experience in biotech companies, including several in the oncology field, along with his strong track record in financial management, will be highly valuable as we focus on advancing stenoparib. We look forward to his contributions in strengthening our financial operations.”
Alex Epshinsky stated, “I am excited to join Allarity and apply my experience in the biotech industry to help drive the company forward. I look forward to taking on this responsibility and working closely with the leadership team to provide the financial foundation necessary to advance our innovative treatment for ovarian cancer patients.”
Notice of Issuance of Inducement Grant
In connection with the appointment of Mr. Epshinsky as Chief Financial Officer effective September 12, 2024 (the “Effective Date”), Allarity granted Mr. Epshinsky employment inducement awards consisting of 55,555 restricted stock units (“RSUs”) with an effective grant date of September 12, 2024. The RSUs will vest in equal one-third installments on the first, second, and third anniversary of the Effective Date, subject to Mr. Epshinsky’s continuous employment and forfeiture on each vesting date.
The inducement awards to Mr. Epshinsky were granted as a material inducement to his employment and were approved by Allarity’s Board of Directors on September 12, 2024, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The awards were granted outside Allarity’s 2021 Equity Incentive Plan.
About Stenoparib
Stenoparib is an orally available, small-molecule dual-targeted inhibitor of PARP1/2 and Tankyrase 1 and 2. At present, tankyrases are attracting significant attention as emerging therapeutic targets for cancer, principally due to their role in regulating the Wnt signaling pathway. Aberrant Wnt/β-catenin signaling has been implicated in the development and progression of numerous cancers. By inhibiting PARP and blocking Wnt pathway activation, stenoparib’s unique therapeutic action shows potential as a promising therapeutic. Allarity has exclusive global rights for the development and commercialization of stenoparib, which was originally developed by Eisai Co. Ltd. and was formerly known under the names E7449 and 2X-121.
About Allarity Therapeutics
Allarity Therapeutics, Inc. (NASDAQ: ALLR) is a clinical-stage biopharmaceutical company dedicated to developing personalized cancer treatments. The Company is focused on development of stenoparib, a novel PARP/Tankyrase inhibitor for advanced ovarian cancer patients, using its DRP® companion diagnostic for patient selection in the ongoing phase 2 clinical trial, NCT03878849. Allarity is headquartered in the U.S., with a research facility in Denmark, and is committed to addressing significant unmet medical needs in cancer treatment. For more information, visit www.allarity.com.
Follow Allarity on Social Media
LinkedIn: https://www.linkedin.com/company/allaritytx/
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Company Contact:
investorrelations@allarity.com
Media Contact:
Thomas Pedersen
Carrotize PR & Communications
+45 6062 9390
tsp@carrotize.com
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