CYTOMX THERAPEUTICS, INC. (NASDAQ:CTMX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d)
Appointment of Director
On October 23, 2017, Charles S. Fuchs, MD, MPH, was appointed to the Board of Directors (the “Board”) of CytomX Therapeutics, Inc., a Delaware corporation (the “Company”), effective October 23, 2017, as a Class III director, with an initial term expiring at the Company’s 2018 annual meeting of stockholders, filling a vacancy.
Dr. Fuchs will receive the Company’s standard non-employee director compensation as described under “Director Compensation” in the Company’s Form 10-K/A filed with the Securities and Exchange Commission on March 20, 2017. to this program, upon appointment to the Board, Dr. Fuchs received an option under the Company’s 2015 Equity Incentive Plan to purchase 28,000 shares of the Company’s common stock with an exercise price of $20.04, the closing price of the Company’s common stock on October 23, 2017. The option will vest and become exercisable as to 1/36th of the shares subject to the option on each monthly anniversary of the date of appointment to the Board, subject to Dr. Fuchs’ continued service to the Company through each applicable vesting date.The Company is entering into an indemnification agreement with Dr. Fuchs, the form of which was filed as Exhibit 10.16 to the Company’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 28, 2015.
There have not been any transactions since the beginning of the Company’s last fiscal year, nor are there any proposed transactions, in which the Company was or is to be a participant involving amounts exceeding $120,000 and in which Dr. Fuchs had or will have a direct or indirect material interest. There are no arrangements or understandings between Dr. Fuchs and the Company or any other persons to which Dr. Fuchs was appointed as a director of the Company.
On October 24, 2017, the Company issued a press release announcing the events described above, which is filed herewith as Exhibit 99.1.
Item 9.01Financial Statements and Exhibits.
(d)
US-DOCS91479924.3
CytomX Therapeutics, Inc. ExhibitEX-99.1 2 ctmx-ex991_7.htm EX-99.1 ctmx-ex991_7.htm Exhibit 99.1 CytomX Therapeutics Appoints Charles S. Fuchs,…To view the full exhibit click here
About CYTOMX THERAPEUTICS, INC. (NASDAQ:CTMX)
CytomX Therapeutics, Inc. is an oncology-focused biopharmaceutical company. The Company is engaged in the development of a class of antibody therapeutics based on its Probody technology platform. It uses its platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against a range of targets. A Probody therapeutic consists of three components produced as a single protein by standard antibody production methodology: an active anti-cancer antibody, a mask for the antibody and a protease-cleavable linker. Its Probody product candidate, CX-072, is directed against programmed death-ligand 1 (PD-L1). CX-072 is based on a monoclonal antibody targeting PD-L1. Its product candidate, CX-2009, is directed against the target CD-166. It is developing a programmed cell death protein 1 (PD-1) Probody therapeutic as an additional approach to block the PD-L1/PD-1 pathway. It is also conducting Integrin alpha-3 PDC program.