Stoke Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(C)(4)
18 Giugno 2024 - 10:30PM
Business Wire
Stoke Therapeutics, Inc. (Nasdaq: STOK), a biotechnology company
dedicated to addressing the underlying cause of severe diseases by
upregulating protein expression with RNA-based medicines, today
announced that, effective on June 17, 2024, the company granted
stock options to purchase an aggregate of 10,400 shares of common
stock to one new employee, as a material inducement to their
employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock options that were granted have an exercise price of
$15.60 per share, which is equal to the closing price of Stoke’s
common stock on June 17, 2024. Each option will vest over a 4-year
period, with 1/4th of the shares underlying the employee’s option
vesting on the one-year anniversary of the applicable vesting
commencement date and the remaining shares thereafter vesting
monthly at a rate of 1/48th of the shares underlying each
employee’s option over the following 36 months, subject to the
employee’s continued employment with Stoke on such vesting dates.
The options have a term of 10 years and are subject to the terms
and conditions of the 2023 Inducement Plan and the stock option
agreement covering the grant.
About Stoke Therapeutics
Stoke Therapeutics (Nasdaq: STOK), is a biotechnology company
dedicated to addressing the underlying cause of severe diseases by
upregulating protein expression with RNA-based medicines. Using
Stoke’s proprietary TANGO (Targeted Augmentation of Nuclear Gene
Output) approach, Stoke is developing antisense oligonucleotides
(ASOs) to selectively restore protein levels. Stoke’s first
compound, zorevunersen (STK-001), is in clinical testing for the
treatment of Dravet syndrome, a severe and progressive genetic
epilepsy. Dravet syndrome is one of many diseases caused by a
haploinsufficiency, in which a loss of ~50% of normal protein
levels leads to disease. Stoke is pursuing the development of
STK-002 for the treatment of autosomal dominant optic atrophy
(ADOA), the most common inherited optic nerve disorder. Stoke’s
initial focus is haploinsufficiencies and diseases of the central
nervous system and the eye, although proof of concept has been
demonstrated in other organs, tissues, and systems, supporting its
belief in the broad potential for its proprietary approach. Stoke
is headquartered in Bedford, Massachusetts with offices in
Cambridge, Massachusetts. For more information, visit
https://www.stoketherapeutics.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240618336579/en/
Stoke Media & Investor Contacts: Dawn Kalmar Chief
Communications Officer dkalmar@stoketherapeutics.com 781-303-8302
Eric Rojas Vice President, Investor Relations
IR@stoketherapeutics.com 617-312-2754
Grafico Azioni Stoke Therapeutics (NASDAQ:STOK)
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