Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CRESTWOOD, Ky. and WALTHAM Mass., Oct. 04, 2019 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals Inc., (Nasdaq:APLS), a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, announced that, on June 19, July 5 and August 9, 2019, the Company approved the grant of equity awards to three new employees with grant dates of September 30, 2019 and October 1, 2019, as equity inducement awards outside of the Company's 2017 Stock Incentive Plan and material to the employees’ acceptance of employment with the Company. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received as inducement grants, in the aggregate, options to purchase 102,796 shares of Apellis common stock. The options have an exercise price of $24.09 per share or $22.10 per share, which is equal to the closing price of Apellis common stock on September 30, 2019 and October 1, 2019 respectively, the grant dates of the options. One-fourth of the shares underlying each employee option will vest on the one year anniversary of each employee’s date of employment and thereafter 1/48th of the shares underlying each employee option will vest monthly, such that the shares underlying the options granted to each employee will be fully vested on the fourth anniversary of each employee’s date of hire, subject to each employee’s continued employment with Apellis on such vesting dates.
Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on the development of novel therapeutic compounds for the treatment of a broad range of life-threatening or debilitating autoimmune diseases based upon complement immunotherapy through the inhibition of the complement system at the level of C3. Apellis is the first company to advance chronic therapy with a C3 inhibitor into clinical trials. For additional information about Apellis and APL-2, please visit http://www.apellis.com.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the implications of preliminary clinical data. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether the Company’s clinical trials will be fully enrolled and completed when anticipated; whether preliminary or interim results from a clinical trial will be predictive of the final results of the trial; whether results obtained in preclinical studies and clinical trials will be indicative of results that will be generated in future clinical trials; whether APL-2 or APL-9 will successfully advance through the clinical trial process on a timely basis, or at all; whether the results of such clinical trials will warrant regulatory submissions and whether APL-2 will receive approval from the FDA or equivalent foreign regulatory agencies for GA, PNH, CAD, wAIHA or any other indication; whether, if Apellis’ products receive approval, they will be successfully distributed and marketed; and other factors discussed in the “Risk Factors” section of Apellis’ Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on July 31, 2019 and the risks described in other filings that Apellis may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Apellis specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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