Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is up 32% in a week after announcing a grant of inducement restricted stock and stock option award to the recently hired Chief Scientific Officer, Stephane Peluso, as per the employment letter offer. The company’s Board of Directors Compensation Committee approved the grants, which were made as incentives for Peluso’s acceptance of employment as per the Nasdaq Listing Rule 5635(C)(4).
The award comprises a stock option to buy 250,000 common shares of the company at $2.93 per share. The option has a ten-year term, and shares will be vested in four years, with 12/48 of the shares vested on the first anniversary and 1/48 of the shares vested monthly after that.
Recently, the company announced Q2 2021 financial results and offered a corporate update. CEO Adelene Perkins said that they are reporting data showing that eganelisb can reprogram macrophages in micro tumor settings by turning M2, pro-tumor, macrophages intonM1, antitumor macrophages, potentially enhancing patient outcomes for two different cancer types. Therefore, INFI is a stock to watch.
