Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 13, 2017, Aquinox Pharmaceuticals, Inc. (the “Company”) and David Mitchell, the Company’s Vice President, Global Regulatory Affairs & Quality Assurance, entered into a Separation Agreement (the “Agreement”) for the termination of Mr. Mitchell’s employment on March 15, 2017 (the “Termination Date”). The Agreement will become effective on the eighth day after the date of the Agreement, provided that Mr. Mitchell does not revoke the Agreement. If Mr. Mitchell allows the Agreement to become effective, then Mr. Mitchell will receive the equivalent of six months of his base salary, paid in equal installments over a six-month period. The Company will also pay COBRA benefits for Mr. Mitchell through the earliest of six months following the Termination Date, the date Mr. Mitchell becomes eligible for health insurance through a new employer or the date Mr. Mitchell ceases to be eligible for COBRA. The vesting of Mr. Mitchell’s equity awards to purchase shares of the Company’s common stock ceased as of the Termination Date. Mr. Mitchell’s staff and areas of responsibility will be managed by existing executives of the Company. No replacement is currently being contemplated. The above description of the terms of the Agreement is a summary and is qualified in its entirety by the terms of the Agreement, which will be filed as an exhibit to its Form 10-Q for the quarter ended

March 31, 2017.

About Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP)

Aquinox Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company operates in the segment of identification and development of therapeutics in disease areas of inflammation and immuno-oncology. Its primary focus is anti-inflammatory product candidates targeting the Src Homology 2 (SH2)-containing inositol-5-phosphatase 1 (SHIP1) enzyme, which is a regulator of a cellular signaling pathway in immune cells. The Company’s product candidate, AQX-1125, is a small molecule activator of SHIP1 suitable for oral, once daily dosing. The Company is developing AQX-1125 as a treatment in interstitial cystitis/bladder pain syndrome (IC/BPS), a chronic inflammatory disease of the bladder. It has completed and reported results from its Leadership trial, which is a multicenter, randomized, double-blind, placebo-controlled, Phase II clinical trial.

Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) Recent Trading Information

Aquinox Pharmaceuticals, Inc. (NASDAQ:AQXP) closed its last trading session up +0.18 at 16.59 with 61,933 shares trading hands.