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.
Compensatory Arrangements of Certain Officers
On January24, 2018, the Compensation Committee of the Board of Directors (the “Board”) of CytomX Therapeutics, Inc. (the “Company”) approved: (a)annual base salaries for 2018 and (b)cash performance bonuses for 2017 for the following principal financial officer and named executive officers of the Company:
|
Name and Current Position |
SalaryIncrease
(%) |
SalaryIncrease
($) |
Base Salary | Cash Bonus | ||||
|
Debanjan Ray, Chief Financial Officer and Head of Corporate Development |
5.0 | % | $ | 18,750 | $ | 393,750 | $ | 228,750 |
|
Rachel W. Humphrey, M.D., Chief Medical Officer |
7.2 | % | $ | 29,638 | $ | 440,448 | $ | 244,426 |
|
W. Michael Kavanaugh, M.D., Chief Scientific Officer and Head of Research and Non-Clinical Development |
4.0 | % | $ | 16,436 | $ | 427,357 | $ | 201,351 |
On January24, 2018, the Board approved the annual base salary for 2018 and cash performance bonus for 2017 for the following principal executive officer:
|
Name and Current Position |
SalaryIncrease
(%) |
SalaryIncrease
($) |
Base Salary | Cash Bonus | ||||
|
Sean A. McCarthy, D. Phil., President and Chief Executive Officer |
10.0 | % | $ | 50,000 | $ | 550,000 | $ | 425,000 |
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.