Aligos Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
SOUTH SAN FRANCISCO, Calif., Oct. 11, 2024 (GLOBE NEWSWIRE) -- Aligos Therapeutics, Inc. (Nasdaq: ALGS, “Aligos”, “Company”), a clinical stage biopharmaceutical company focused on improving patient outcomes through best-in-class therapies for liver and viral diseases, today announced that the Compensation Committee of the Company’s Board of Directors granted non-qualified stock options to purchase an aggregate of 95,000 shares of the Company’s stock (the “Inducement Grants”) to newly hired employees on October 8, 2024 (the “Grant Date”), in connection with the commencement of employment. Included in the aggregate number is the grant of an option to purchase 75,000 shares to Dr. Hardean Achneck, in connection with the commencement of his role as Chief Medical Officer.
The Inducement Grants were granted pursuant to Aligos’ 2024 Employment Inducement Award Plan (the “Plan”) as an inducement material to entering employment in accordance with Nasdaq Listing Rule 5635(c)(4). The Plan is used exclusively for the grant of equity awards to individuals who were not previously employed by Aligos.
The Inducement Grants have an exercise price per share equal to the closing price of Aligos’ common stock on the Grant Date. The shares subject to the Inducement Grants will vest over a four-year period, with 25% vesting on the first anniversary of the Grant Date and the remainder vesting in equal monthly installments, subject to the continued employment through the applicable vesting dates.
About Aligos
Aligos Therapeutics, Inc. (NASDAQ: ALGS) is a clinical stage biopharmaceutical company founded with the mission to improve patient outcomes by developing best-in-class therapies for the treatment of liver and viral diseases. Aligos applies its science driven approach and deep R&D expertise to advance its purpose-built pipeline of therapeutics for metabolic dysfunction-associated steatohepatitis (MASH) and viruses with high unmet medical need such as hepatitis B and coronaviruses.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not historical facts may be considered “forward-looking statements,” including without limitation, statements regarding the Aligos’ mission to improve patient outcomes by developing best-in-class therapies for the treatment of liver and viral diseases. Such forward-looking statements are subject to substantial risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties inherent in the drug development process, including Aligos’ clinical stage of development, the process of designing and conducting clinical trials and the regulatory approval processes. For a further description of the risks and uncertainties that could cause actual results to differ from those anticipated in these forward-looking statements, as well as risks relating to the business of Aligos in general, see Aligos’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 6, 2024 and its future periodic reports to be filed or submitted with the Securities and Exchange Commission. Except as required by law, Aligos undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances, or to reflect the occurrence of unanticipated events.
Aligos Therapeutics
Contact
Jordyn Tarazi
Vice President, Investor Relations & Corporate Communications
+1 (650) 910-0427
