Mural Oncology Reports Inducement Grants per Nasdaq Rule 5635(c)(4)

Mural Oncology plc, a clinical-stage company specializing in immuno-oncology, has announced the granting of stock options and restricted stock units to two new employees as part of its 2024 Inducement Stock Option and Incentive Plan. These grants are intended to encourage the new employees to join and remain with the company, aligning with Nasdaq Listing Rule 5635(c)(4).

On June 3, 2024, Mural Oncology awarded non-statutory stock options to purchase 7,995 ordinary shares and restricted stock units equivalent to 4,305 ordinary shares. The stock options are priced at $3.41 per share, matching the closing price of the company’s ordinary shares on the same date. These options have a ten-year term and follow a vesting schedule where 25% of the shares vest on the first anniversary of the grant date, with the remaining shares vesting quarterly at a rate of 6.25%, contingent on the employees’ continued service.

The restricted stock units also adhere to a four-year vesting schedule, with 25% of the shares vesting each year on the anniversary of the grant date, again dependent on continued service with Mural Oncology. Both the stock options and restricted stock units are governed by award agreements and the terms of the 2024 Inducement Stock Option and Incentive Plan.

Mural Oncology’s mission is to develop innovative cytokine-based immunotherapies to treat various cancers. By leveraging their expertise in cytokine biology and immune cell modulation, alongside a robust protein engineering platform, the company aims to produce meaningful clinical benefits for cancer patients. Their lead candidate, nemvaleukin, is undergoing potentially registrational trials for treating mucosal melanoma and platinum-resistant ovarian cancer.

Based in Dublin, Ireland, with primary operations in Waltham, Massachusetts, Mural Oncology is dedicated to expanding the potential of cytokine-based treatments to enhance patient outcomes.