CYCLACEL PHARMACEUTICALS, INC. (NASDAQ:CYCC) Files An 8-K Results of Operations and Financial Condition

CYCLACEL PHARMACEUTICALS, INC. (NASDAQ:CYCC) Files An 8-K Results of Operations and Financial Condition
Item 2.02

         

The information set forth under this “Item 2.02. Results of Operations and Financial Condition,” including the exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Attached as Exhibit 99.1 is a copy of a press release of Cyclacel Pharmaceuticals, Inc. (the “Company”), dated November 11, 2020, announcing certain financial results for the third quarter ended September 30, 2020.

Effective November 9, 2020, the Board of Directors (the “Board”) of the Company appointed Karin L. Walker to serve as a Class 1 Director until the 2022 annual meeting of the Company’s stockholders.

There are no arrangements or understandings between Ms. Walker and any other person to which Ms. Walker was appointed as a director. There are no transactions to which the Company is a party and in which Ms. Walker has a material interest that is required to be disclosed under Item 404(a) of Regulation S-K.

Ms. Walker has not previously held any positions with the Company and has no family relations with any directors or executive officers of the Company.

On November 9, 2020, the Board granted, under and to the terms of the Company’s 2018 Equity Incentive Plan, to Ms. Walker an option to purchase up to 5,200 shares of the Company’s common stock at an exercise price of $3.33 per share for her services as a non-executive director of the Company, all of such options to vest on the first anniversary of the date of grant. The option expires on November 9, 2030.

In addition, Ms. Walker is entitled to receive an annual fee of $45,000 for her services as a non-executive director of the Company and $5,000 as a member of the Board’s Audit Committee. Ms. Walker will also be reimbursed for certain customary business expenses in connection with attending the Board meeting.

Ms. Walker has over 30 years of extensive finance experience in biopharmaceuticals, including in public biotechnology companies and technology companies. Ms. Walker currently serves as the Chief Accounting Officer of Prothena Corporation plc, a late-stage clinical company with expertise in protein dysregulation and a pipeline of novel investigational therapeutics focused on neurodegenerative and rare peripheral amyloid diseases, and has held this position since 2013. Prior to joining Prothena, she was Vice President, Finance and Chief Accounting Officer of Affymax, Inc., a position she held from 2012 to 2013. From 2009 to 2012, Ms. Walker was Vice President, Finance and Corporate Controller at Amyris Inc. From 2006 to 2009, she was Vice President, Finance and Corporate Controller for CV Therapeutics, Inc. Ms. Walker also held senior financial leadership positions at Knight Ridder Digital, Accellion, Niku Corporation, Financial Engines, Inc. and NeoMagic Corporation. Ms. Walker earned her B.S. in business from the California State Polytechnic University, San Luis Obispo, and is a certified public accountant (CPA).

99.1 Press release announcing financial results for the third quarter ended September 30, 2020, dated November 11, 2020.


Cyclacel Pharmaceuticals, Inc. Exhibit
EX-99.1 2 tm2035758d1_ex99-1.htm EXHIBIT 99.1   Exhibit 99.1         Cyclacel Pharmaceuticals,…
To view the full exhibit click here

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About CYCLACEL PHARMACEUTICALS, INC. (NASDAQ:CYCC)

Cyclacel Pharmaceuticals, Inc. operates in the field of cell cycle biology. The Company has generated various families of anticancer drugs that act on the cell cycle, including nucleoside analogs, cyclin dependent kinase (CDK) inhibitors, polo-like kinase (PLK) inhibitors and Aurora Kinase/vascular endothelial growth factor receptor (AK/VEGFR) inhibitors. Its family of anticancer drugs that act on the cell cycle include sapacitabine, seliciclib and CYC065. Its lead candidate, sapacitabine, is an orally available nucleoside analog. A number of nucleoside drugs, such as gemcitabine and cytarabine, also known as Ara-C, both generic drugs, are in use as conventional chemotherapies. Seliciclib, its lead CDK inhibitor, is an oral inhibitor of CDK2/9 enzymes that are central to the process of cell division and cell cycle control. Its second-generation CDK inhibitor, CYC065, is an inhibitor of CDKs targeting CDK2/9 enzymes with utility in both hematological malignancies and solid tumors.

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