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(4) - EconoTimes)
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STAMFORD, Conn., May 07, 2018 -- Loxo Oncology, Inc. (Nasdaq:LOXO), a biopharmaceutical company innovating the development of highly selective medicines for patients with genetically defined cancers, today announced that between April 23, 2018 and May 7, 2018, the Compensation Committee of Loxo Oncology’s Board of Directors granted non-qualified stock options to purchase an aggregate of 98,525 shares of its common stock to thirteen new employees. The options were granted as an inducement material to the employees’ acceptance of employment with Loxo Oncology in accordance with Nasdaq Listing Rule 5635(c)(4).
Each option has an exercise price equal to the closing price of Loxo Oncology’s common stock on the day of grant. Each option will vest and become exercisable as to 25% of the shares on the first anniversary of the recipient’s start date, and will vest and become exercisable as to the remaining 2.08333% of the shares in 36 equal monthly installments following the first anniversary, in each case, subject to each such employee’s continued employment with Loxo Oncology on such vesting dates.
About Loxo Oncology
Loxo Oncology is a biopharmaceutical company innovating the development of highly selective medicines for patients with genetically defined cancers. Our pipeline focuses on cancers that are uniquely dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect. We believe that the most selective, purpose-built medicines have the highest probability of maximally inhibiting the intended target, thereby delivering best-in-class disease control and safety. Our management team seeks out experienced industry partners, world-class scientific advisors and innovative clinical-regulatory approaches to deliver new cancer therapies to patients as quickly and efficiently as possible. For more information, please visit the company's website at www.loxooncology.com.
Contacts for Loxo Oncology, Inc.
Company:
Lauren Cohen
Director, Corporate Communications
[email protected]
Investors:
Peter Rahmer
Endurance Advisors, LLC
415-515-9763
[email protected]
Media:
Dan Budwick
1AB Media
973-271-6085
[email protected]
