Annexon Reports Inducement Grant to New Employee Under Nasdaq Listing Rule 5635(c)(4)
BRISBANE, Calif., Aug. 02, 2023 (GLOBE NEWSWIRE) -- Annexon, Inc. (Nasdaq: ANNX), a clinical-stage biopharmaceutical company developing a new class of complement medicines for patients with classical complement-mediated autoimmune, neurodegenerative and ophthalmic disorders, today announced that it has granted an equity inducement award to Jamie Dananberg, M.D., the company’s Chief Medical Officer, under the terms of the 2022 Employment Inducement Award Plan. The equity award was approved on July 22, 2023, effective August 1, 2023, in accordance with Nasdaq Listing Rule 5635(c)(4).
Dr. Dananberg received an option to purchase 275,000 shares of Annexon common stock. The option carries a ten-year term and an exercise price per share equal to $3.54, which was the closing price of Annexon’s common stock on August 1, 2023, the date of grant, and vests over four years, with 25% of the shares underlying the option vesting on the first anniversary of the employee’s employment start date, and an additional 1/48th of the shares vesting monthly thereafter, subject to continued service through the applicable vesting dates.
Annexon (Nasdaq: ANNX) is a clinical-stage biopharmaceutical company seeking to bring game-changing medicines to patients with classical complement-mediated diseases of the body, brain and eye. The classical complement pathway within the immune system, when overactivated, drives a host of autoimmune, neurodegenerative and ophthalmic diseases. Annexon is advancing a new class of complement medicines targeting the early classical cascade and all downstream pathway components that contribute to disease, while selectively preserving the beneficial immune functions of other complement pathways. Annexon is rigorously developing a pipeline of diversified product candidates across multiple mid- to late-stage clinical trials, with clinical data anticipated throughout 2023 and beyond.
THRUST Strategic Communications