Curis Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

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Curis, Inc. approves inducement stock options for new employees

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• Curis, Inc. approved the grant of inducement stock options to two new employees. Each option has a 10 year term and vests over four years.

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• None.

LEXINGTON, Mass., Oct. 6, 2023 /PRNewswire/ -- Curis, Inc. (NASDAQ: CRIS), a biotechnology company focused on the development of innovative therapeutics for the treatment of cancer, today announced that on October 2, 2023, the independent Compensation Committee of the Board of Directors of Curis approved the grant of inducement stock options to purchase a total of 11,340 shares of Curis common stock to two new employees, with a grant date of October 2, 2023 (the "Q4 2023 Inducement Grants").

Each of the Q4 2023 Inducement Grants has an exercise price per share equal to the closing price of the Company's common stock on October 2, 2023. Each stock option has a 10 year term and vests over four years, with 25% of the original number of shares underlying the award vesting on the first anniversary of the employee's date of hire and an additional 6.25% of the original number of shares underlying the award vesting on each successive three-month period thereafter, subject to the employee's continued service with the Company through the respective vesting dates.  Each stock option was granted as an inducement equity award outside of the Company's Fourth Amended and Restated 2010 Stock Incentive Plan and was made as an inducement material to the employee's acceptance of employment with the Company.

About Curis, Inc.

Curis is a biotechnology company focused on the development of emavusertib, an orally available, small molecule IRAK4 inhibitor for the treatment of hematologic malignancies. In 2015, Curis entered into a collaboration with Aurigene in the areas of immuno-oncology and precision oncology. As part of this collaboration, Curis has exclusive licenses to oral small molecule antagonists of immune checkpoints including the VISTA/PDL1 antagonist CA-170, and the TIM3/PDL1 antagonist CA-327, as well as the IRAK4 kinase inhibitor, emavusertib (CA-4948). Emavusertib is currently undergoing testing in the Phase 1/2 TakeAim Lymphoma trial in patients with hematologic malignancies, such as non-Hodgkin's lymphoma and other B cell malignancies, both as a monotherapy and in combination with BTK inhibitor ibrutinib, and the Phase 1/2 TakeAim Leukemia trial in patients with acute myeloid leukemia and myelodysplastic syndrome, for which it has received Orphan Drug Designation from the U.S. Food and Drug Administration. In addition, Curis is engaged in a collaboration with ImmuNext for development of CI-8993, a monoclonal anti-VISTA antibody. Curis is also party to a collaboration with Genentech, a member of the Roche Group, under which Genentech and Roche are commercializing Erivedge® for the treatment of advanced basal cell carcinoma. For more information, visit Curis's website at www.curis.com.

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SOURCE Curis, Inc.

FAQ

What did Curis, Inc. announce?

Curis, Inc. announced the approval of inducement stock options for new employees.

How many shares of Curis common stock were granted?

A total of 11,340 shares of Curis common stock were granted.

What is the exercise price per share of the stock options?

The exercise price per share is equal to the closing price of the Company's common stock on October 2, 2023.

How long is the term of each stock option?

Each stock option has a 10 year term.

How does the vesting schedule work?

The stock options vest over four years, with 25% vesting on the first anniversary of the employee's date of hire and an additional 6.25% vesting on each successive three-month period.

Were the stock options granted under the Company's stock incentive plan?

No, the stock options were granted outside of the Company's Fourth Amended and Restated 2010 Stock Incentive Plan.

Why were the stock options granted?

The stock options were granted as an inducement material to the employee's acceptance of employment with the Company.