Terns Pharmaceuticals Reports Inducement Grants to New Employees Under Nasdaq Listing Rule 5635(c)(4)
FOSTER CITY, Calif., Dec. 20, 2022 -- Terns Pharmaceuticals, Inc. , a clinical-stage biopharmaceutical company developing a portfolio of small-molecule product candidates to address serious... |…
According to Nasdaq Listing Rule 5635 (c)(4), the equity awards were approved December 15, 2022. The new non-executive employees were granted options to purchase 60,000 Terns common shares and 30,000 Terns restricted stock units ('RSUs) for Terns stock. RSUs and options vest in four years. However, they must be used up by the vesting date. The Terns pipeline contains four clinical stage programs, including an allosteric BCR–ABL inhibitor, a FXR antagonist, a VAP-1 inhibit, and a small-molecule GLP-1 receptor-agonist program. Contacts for Terns InvestorsJustin