Press release
Absci Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
VANCOUVER, Wash. and NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today
About this update from Absci Corporation
[{"type":"text","content":"VANCOUVER, Wash. and NEW YORK, March 04, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today announced that on March 3, 2025, the company granted a non-statutory stock option to purchase an aggregate of 162,800 shares of its common stock to one newly-hired non-executive employee. The inducement grant was previously approved by the Compensation Committee of Absci’s Board of Directors pursuant to Absci’s 2023 Inducement Plan (the “Inducement Plan”), and is being made as an inducement material to the new employee’s acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option award has an exercise price of $3.42 per share, the closing price of Absci’s common stock on the Nasdaq Global Select Market on March 3, 2025 the (“Grant Date”). The stock option has a 10-year term and vests over four years, and 25% of the shares subject to the option vest and become exercisable on the one-year anniversary of the Grant Date and the remaining 75% of the shares subject to the option vest and become exercisable in 36 approximately equal monthly installments thereafter such that the shares underlying the option granted to the new employee will be fully vested on the fourth anniversary of the Grant Date, subject to the new employee’s continued service with Absci on each such date (subject to the terms and conditions of the Inducement Plan and the option award agreement covering the grant). About AbsciAbsci is a data-first generative AI drug creation company that combines AI with scalable wet lab technologies to create better biologics for patients, faster. Our Integrated Drug Creation™ platform unlocks the potential to accelerate time to clinic and increase the probability of success by simultaneously optimizing multiple drug characteristics important to both development and therapeutic benefit. With the data to train, the AI to create, and the wet lab to validate, we can screen billions of cells per week, allowing us to go from AI-designed candidates to wet lab-validated candidates in as little as six weeks. Absci’s headquarters is in Vancouver, WA, with our AI Research Lab in New York City and an Innovation Center in Zug, Switzerland. Visit www.absci.com and follow us on LinkedIn (@absci), X (Twitter) (@Abscibio), and YouTube. Availabili...