ALX Oncology Reports Inducement Grant as permitted by the Nasdaq Listing Rules by Investing.com
SOUTH SAN FRANCISCO, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) — ALX Oncology Holdings, Inc . (ALX Oncology or the Company), (Nasdaq: ALXO), a clinical biotechnology company advancing therapies that strengthen the immune system to treat cancer and prolong the lives of patients, today announced that effective January 21, 2025, the Compensation Committee of the ALX Board of Directors will Oncology granted an incentive stock option to purchase an aggregate of 600,000 shares of ALX Oncology to Harish Shantharam, the Company’s Chief Financial Officer, in connection with his commencement of employment. Incentive stock option g. Shantharama is subject to the terms of ALX Oncology Holdings Inc. 2025 Inducement Equity Incentive Plan and related forms of contracts, and were allocated as incentive material to Mr. Shantharam to enter into an employment relationship with ALX Oncology pursuant to Nasdaq Listing Rule 5635(c)(4).
The incentive stock option has an exercise price of $1.65 per share, which is equal to the closing price of a share of ALX Oncology common stock on the grant date, and vests as follows: 25% of the shares subject to such incentive stock option vest for one year January 21, 2025, and an additional one forty-eighth of the shares subject to such incentive stock option vest monthly thereafter, provided the employee continues to work.
About ALX Oncology
ALX Oncology (Nasdaq: ALXO) is a clinical biotechnology company advancing immune-boosting therapies to treat cancer and extend patients’ lives. ALX Oncology’s lead therapeutic candidate, evorpacept, has demonstrated the potential to serve as a therapeutic cornerstone upon which to build the future of immuno-oncology. Evorpacept is currently being evaluated through multiple ongoing clinical trials in a wide range of cancer indications. More information is available at www.alxoncology.com and on LinkedIn @ALX Oncology.
Company contact:
Allison Dillon, Chief Business Officer, ALX Oncology
ir@alxoncology.com
Media contact:
Audra Friis, Sam Brown, Inc.
audrafriis@sambrown.com
(917) 519-9577
Source: ALX Oncology
