Elicio Therapeutics Reports Inducement Grants
17 September 2024 - 2:31PM
Elicio Therapeutics, Inc. (Nasdaq: ELTX, “Elicio Therapeutics” or
“Elicio”), a clinical-stage biotechnology company developing a
pipeline of novel immunotherapies for the treatment of cancer,
today announced that on September 16, 2024, Elicio granted an
aggregate of 4,800 inducement stock options to a new employee, as
an inducement material to the individual entering into employment
with Elicio in accordance with Nasdaq Listing Rule 5635(c)(4). The
inducement stock options were approved by the Compensation
Committee of Elicio’s Board of Directors and granted under the
Elicio Therapeutics, Inc. 2024 Inducement Incentive Award
Plan.
The grant provides for the purchase of shares of
Elicio common stock at a price of $4.13 per share, the closing
price per share of Elicio common stock as reported by Nasdaq on
September 16, 2024, the date of grant.
The grant vests over four years, with 25 percent
of the shares vesting on the first anniversary of the employee’s
start date, and the remainder vesting ratably at the end of each
subsequent month thereafter, subject to such employee’s continued
service relationship with Elicio through the applicable vesting
dates.
About Elicio Therapeutics
Elicio Therapeutics, Inc. (Nasdaq: ELTX) is a
clinical-stage biotechnology company advancing a pipeline of novel
lymph node-targeted immunotherapies for the treatment of some of
the most aggressive cancers. By combining expertise in immunology
and immunotherapy, Elicio is harnessing the natural power of the
immune system with the AMP technology, which allows for therapeutic
payloads to be delivered directly to the lymph nodes, with the goal
of enhancing the immune system’s cancer-fighting capabilities. By
targeting cancer immunotherapies to the core of the immune
response, AMP aims to optimize the lymph nodes’ natural ability to
educate, activate and amplify cancer-specific T cells, which are
essential for recognizing and eliminating tumor cells. Engineered
to synchronize immunity in these highly potent sites, AMP is built
to enhance the magnitude, potency, quality and durability of the
immune response to drive antitumor activity. Elicio’s R&D
pipeline includes off-the-shelf therapeutic cancer vaccines
ELI-002, (targeting mKRAS-driven cancers) as well as ELI-007 and
ELI-008 (targeting BRAF-driven cancers and p53 hotspot mutations,
respectively). For more information, please
visit www.elicio.com.
Investor Relations Contact
Robert ConnellyElicio
TherapeuticsIR@elicio.com857-209-0153
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