Due to the company’s upcoming webinar, Gritstone bio Inc. (Nasdaq: GRTS) shares increased 8.41% to $2.45 on Monday after-hours trading.
What will GRTS be talking about in the webinar?
Today, Gritstone bio (GRTS) will hold a webinar to explore the use of its self-amplifying mRNA (samRNA) vaccine technology for infectious illnesses and to show findings from its CORAL program. Lead researchers will discuss findings from the ongoing Phase 1 CORAL-BOOST and CORAL-CEPI studies, which are examining the efficacy of the company’s samRNA vaccine candidates against SARS-CoV-2, during the webinar. Lawrence “Larry” Corey, M.D., a world-renowned authority on virology, immunology, and vaccine production, will speak about the possible use of samRNA vaccines against infectious illnesses after the data presentations.
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Presenters and webinar content:
Data from CORAL-BOOST will be presented by Professor Andrew Ustianowski, National Clinical Lead for the UK NIHR COVID Vaccine Research Program. The study findings being presented at IDWeek 2022 will be expanded upon in this session.
The interim results from CORAL-CEPI will be presented by Professor Shabir Madhi, Dean of the Faculty of Health Sciences and Professor of Vaccinology at the University of the Witwatersrand, Johannesburg, South Africa. Data on virus-unaware participants will be included in this presentation.
Larry Corey, M.D., a specialist in virology, immunology, and vaccine development who is also a board member of Gritstone bio and the former president and director of Fred Hutchinson Cancer Center (“Fred Hutch”), will discuss the state of the field and the vast potential uses of samRNA.
A description of samRNA as a cutting-edge vaccination platform for the prevention and treatment of infectious illnesses will also be given by GRTS management.
After the talks, which run from 8:00 to 9:00 am, there will be a Q&A session.
Inducement Grant from GRTS:
The Board of Directors of GRTS has issued seven employees nonqualified stock options with an exercise price of $2.24, which is equivalent to the closing price of GRTS’ common stock on October 11, 2022, the date of the grant, to acquire a total of 35,100 shares of the company’s common stock. According to Nasdaq Listing Rule, these stock options are a component of the incentives Gritstone will provide to each new hire.
How will the grant be given out?
The stock options will mature over a four-year period, with 25% of the options being exercisable on the employee’s first anniversary of hire and 1/48th of the options becoming exercisable each month after that, provided the employee is employed by Gritstone bio (GRTS) on the vesting dates. The stock options are subject to the terms and circumstances of the granted stock option agreement and the GRTS 2021 Employment Inducement Incentive Award Plan.