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Surrozen Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
Globenewswireยท 2025-11-12 22:01
Core Insights - Surrozen, Inc. is a biotechnology company focused on developing targeted therapeutics that modulate the Wnt pathway, particularly for severe eye diseases [1][4] - The company granted inducement stock option awards covering 50,000 shares to its new Chief Financial Officer, Andrew P. Maleki, as part of his employment agreement [1][2] - The stock options were granted under the 2025 Equity Inducement Plan and were approved by the Board of Directors [2][3] Stock Option Details - The stock options allow the purchase of shares at a price of $12.94 per share, which is the closing price on November 12, 2025 [2] - The options vest over a four-year period, with 25% vesting on the first anniversary and the remainder vesting monthly [3] - The awards were granted as an inducement for the new CFO to accept employment, in compliance with Nasdaq Listing Rule 5635(c)(4) [3] Company Overview - Surrozen is pioneering a new class of Wnt-based therapeutics aimed at repairing and restoring tissue function, with a primary focus on ophthalmology [4] - The company utilizes a proprietary antibody-engineering platform to develop multifunctional biologics that activate Wnt signaling [4] - Surrozen aims to deliver durable therapies that can significantly improve patient outcomes and create long-term value [4]