Mural Oncology Reports Grants Under Nasdaq Rule 5635(c)(4)

Mural Oncology plc (Nasdaq: MURA), a clinical-stage immuno-oncology company focusing on engineered cytokine therapies for various cancers, recently announced that on July 1, 2024, they granted stock options and restricted stock units to four newly hired employees. These grants were awarded under the Company's 2024 Inducement Stock Option and Incentive Plan, aligning with Nasdaq Listing Rule 5635(c)(4), to encourage their employment.

The stock options provided allow the purchase of a total of 15,470 ordinary shares at an exercise price of $3.11 per share. This price matches the closing rate of the company’s shares on Nasdaq as of July 1, 2024. These options are set for a ten-year term and are structured to vest over four years. Initially, 25% of the shares will become available on the first anniversary of the grant, with an additional 6.25% vesting quarterly thereafter. This vesting schedule is contingent on the employees' continued service with Mural Oncology.

In addition to stock options, the four new hires received restricted stock units totaling 8,330 shares, which also vest over a four-year period. Each year, 25% of these shares will vest on the anniversary of the grant, again dependent on the employees' ongoing service with the company.

These equity awards are governed by the terms and conditions outlined in stock option award agreements and the company’s 2024 Inducement Stock Option and Incentive Plan, designed to incentivize and retain talent within Mural Oncology.

Mural Oncology is leveraging its advanced protein engineering platform to create cytokine-based immunotherapies aimed at treating cancer. By merging expertise in cytokine biology and immune cell modulation with their protein engineering capabilities, Mural Oncology strives to develop therapies that offer significant clinical benefits to cancer patients. Their mission is to expand the potential and reach of cytokine-based immunotherapies, thereby enhancing patient outcomes.

The company's lead candidate, nemvaleukin, is currently undergoing potentially registrational trials for mucosal melanoma and platinum-resistant ovarian cancer. Mural Oncology is headquartered in Dublin, Ireland, with primary facilities located in Waltham, Massachusetts.

Mural Oncology continues to foster innovation in the field of immuno-oncology, which is crucial for addressing unmet needs in cancer treatment. Their commitment to developing novel therapies underscores their dedication to improving the lives of cancer patients through advanced scientific research and clinical trials.