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Oncternal Therapeutics Reports Inducement Award Under Nasdaq Listing Rule 5635(c)(4)

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Oncternal Therapeutics, a clinical-stage biopharmaceutical company, granted an inducement award to a new Senior Director, Clinical Data Management, Anne C. Hansen. The award includes an option to purchase 5,000 shares of Oncternal common stock, with a 10-year term and vesting over four years. The approval was made under the company's 2021 Employment Inducement Incentive Award Plan, following Nasdaq Rule 5635(c)(4).

Oncternal Therapeutics, una società biofarmaceutica in fase clinica, ha concesso un premio di incentivo al nuovo Senior Director per la Gestione dei Dati Clinici, Anne C. Hansen. Il premio include l'opzione di acquistare 5.000 azioni ordinarie di Oncternal, con una durata di 10 anni e un'acquisizione dilazionata su quattro anni. L'approvazione è stata effettuata nell'ambito del Piano di Incentivi Induttivi per l'Occupazione 2021 della società, seguendo la Normativa Nasdaq 5635(c)(4).
Oncternal Therapeutics, una compañía biofarmacéutica en etapa clínica, otorgó un premio de incentivo a la nueva Directora Senior de Gestión de Datos Clínicos, Anne C. Hansen. El premio incluye la opción de compra de 5,000 acciones comunes de Oncternal, con un plazo de 10 años y acumulación en cuatro años. La aprobación se realizó bajo el Plan de Premio de Incentivo de Contratación de 2021 de la empresa, siguiendo la Norma 5635(c)(4) de Nasdaq.
임상 단계의 바이오 제약 회사인 온크터널 테라퓨틱스는 새로운 임상 데이터 관리 수석 이사인 앤 C. 한센에게 인센티브 수여를 부여했습니다. 이 보상에는 온크터널의 보통주 5,000주를 구매할 수 있는 옵션이 포함되어 있으며, 10년의 기간 동안 네 해에 걸쳐 부여됩니다. 승인은 회사의 2021년 고용 유인 인센티브 보상 계획에 따라 나스닥 규칙 5635(c)(4)에 따라 이루어졌습니다.
Oncternal Therapeutics, une entreprise biopharmaceutique en phase clinique, a accordé une récompense incitative à Anne C. Hansen, la nouvelle directrice senior de la gestion des données cliniques. La récompense comprend une option d'achat de 5 000 actions ordinaires d'Oncternal, avec une durée de 10 ans et un échelonnement sur quatre ans. L'approbation a été accordée dans le cadre du Plan d'Incentive d'Induction à l'Emploi 2021 de la société, conformément à la Règle 5635(c)(4) de Nasdaq.
Oncternal Therapeutics, ein biopharmazeutisches Unternehmen in der klinischen Phase, hat Anne C. Hansen, die neue leitende Direktorin für das Management klinischer Daten, einen Anreizpreis gewährt. Der Preis beinhaltet die Option, 5.000 Stammaktien von Oncternal zu erwerben, mit einer Laufzeit von 10 Jahren und einer vierjährigen Stufungen. Die Genehmigung erfolgte im Rahmen des Beschäftigungsanreizpreisplans 2021 des Unternehmens, gemäß der Nasdaq-Regel 5635(c)(4).
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SAN DIEGO, May 01, 2024 (GLOBE NEWSWIRE) -- Oncternal Therapeutics, Inc. (Nasdaq: ONCT), a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies, today announced the approval of an inducement award to one new employee, Anne C. Hansen, who is joining Oncternal as Senior Director, Clinical Data Management.

The award will be made on May 1, 2024 under Oncternal’s 2021 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Oncternal as an inducement to join the Company. The award will consist of an option to purchase 5,000 shares of Oncternal common stock. The option will have a 10-year term and an exercise price equal to the closing price of Oncternal’s common stock on the date of grant. The option will vest over a four-year period, with 25% of the shares subject to the option vesting on the first anniversary of the employee’s start date, and the rest vesting in equal monthly installments over three years thereafter. The award was approved by Oncternal’s compensation committee, comprised entirely of independent directors, as required by Nasdaq Rule 5635(c)(4), and will be granted as an inducement material to the employee entering into employment with Oncternal in accordance with Nasdaq Rule 5635(c)(4).

About Oncternal Therapeutics
Oncternal Therapeutics is a clinical-stage biopharmaceutical company focused on the development of novel oncology therapies for the treatment of patients with cancers that have critical unmet medical need. Oncternal pursues drug development targeting promising, yet untapped biological pathways implicated in cancer generation or progression, focusing on hematological malignancies and prostate cancer. ONCT-534 is an investigational dual-action androgen receptor inhibitor (DAARI) with demonstrated preclinical activity in prostate cancer models against both unmutated androgen receptor (AR), and against multiple forms of AR aberration. It is a potential treatment for patients with mCRPC with unmet medical need because of resistance to androgen receptor pathway inhibitors, including those with AR amplification, mutations in the AR ligand binding domain (LBD), or splice variants with loss of the AR LBD. Study ONCT-534-101 (NCT05917470) has completed enrollment in three dose cohorts and continues to enroll and dose patients for treatment with mCRPC. ONCT-808 is an investigational autologous chimeric antigen receptor T (CAR T) cell therapy that targets Receptor Tyrosine Kinase-Like Orphan Receptor 1 (ROR1) using the binding domain from zilovertamab. ONCT-808 has demonstrated activity in preclinical models against multiple hematological malignancies and solid tumors and has been shown to be specific for cancer cells expressing ROR1. Oncternal has developed a robust and reproducible manufacturing process that has the potential to reduce the time patients must wait for their individual CAR T therapy to be produced, compared with currently approved CAR T products. Oncternal has dosed patients under Study ONCT-808-101 (NCT05588440) with relapsed or refractory aggressive B-cell lymphoma, including patients who have failed previous CD19 CAR T treatment. Zilovertamab is an investigational monoclonal antibody designed to inhibit the function of ROR1. Zilovertamab has been evaluated in a Phase 1/2 Study CIRM-0001 (NCT03088878) in combination with ibrutinib for the treatment of patients with mantle cell lymphoma (MCL), chronic lymphocytic leukemia (CLL) and marginal zone lymphoma (MZL), which resulted in 100% progression free survival (PFS) at 42 months in CLL patients expressing a p53 mutation/del(17p), a population underserved by current treatment options. Zilovertamab is also being evaluated in an investigator-initiated Phase 1b study of zilovertamab in combination with docetaxel in patients with metastatic castration-resistant prostate cancer (NCT05156905). More information on our company and programs is available at https://oncternal.com/.

Contact Information:

Investors
Richard Vincent
Chief Financial Officer
858-434-1113
rvincent@oncternal.com

Media
Corey Davis, Ph.D.
LifeSci Advisors
212-915-2577
cdavis@lifesciadvisors.com


FAQ

Who received the inducement award at Oncternal Therapeutics?

Anne C. Hansen, who joined as Senior Director, Clinical Data Management, received the inducement award.

What is included in the inducement award granted by Oncternal Therapeutics?

The award consists of an option to purchase 5,000 shares of Oncternal common stock.

What is the vesting period for the option in the inducement award from Oncternal Therapeutics?

The option will vest over a four-year period, with 25% vesting on the first anniversary of the employee's start date, and the rest vesting in equal monthly installments over three years thereafter.

Under which rule was the inducement award approved at Oncternal Therapeutics?

The award was approved under Nasdaq Rule 5635(c)(4) of Oncternal's 2021 Employment Inducement Incentive Award Plan.

Oncternal Therapeutics, Inc.

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