NORWOOD, Mass., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), a clinical-stage company focused on new therapies in oncology and obesity, today announced the grant of inducement equity awards outside of the Company's stockholder-approved equity compensation plans to Leonardo Nicacio in connection with his commencement of employment as Chief Medical Officer of the Company. The grants were approved by the Compensation Committee of the Board of Directors effective as of August 16, 2026, as inducements material to Mr. Nicacio entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement grants consisted of (i) a nonstatutory stock option to purchase up to 191,676 shares of common stock and (ii) restricted stock units for 58,333 shares of common stock. The option has an exercise price of $10.09. The option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the grant date and the remaining 75% vesting in equal monthly installments over the following 36 months, subject to Mr. Nicacio's continued service with the Company through the applicable vesting dates. Each restricted stock unit will entitle Mr. Nicacio to receive one share of the Company's common stock for each restricted stock unit that vests. The restricted stock units will vest in four equal annual installments on each anniversary of the grant date, until the fourth anniversary of such date, subject to his continued service with the Company through the applicable vesting dates.
About Corbus
Corbus Pharmaceuticals Holdings, Inc. is a clinical-stage company focusing on new therapies in oncology and obesity and is committed to helping people defeat serious illness by bringing innovative scientific approaches to well-understood biological pathways. Corbus' pipeline includes CRB-701, a next-generation antibody drug conjugate for the treatment of Nectin-4-expressing tumors, and CRB-913, an orally delivered highly peripherally restricted CB1 inverse agonist for the treatment of obesity. Corbus is headquartered in Norwood, Massachusetts. For more information on Corbus, visit corbuspharma.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including statements relating to the Company's equity compensation practices. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
INVESTOR CONTACTS:
Sean Moran
Chief Financial Officer
Corbus Pharmaceuticals
[email protected]
Dan Ferry
Managing Director
LifeSci Advisors, LLC
[email protected]
MEDIA CONTACT:
Liz Melone
Founder & Principal
Melone Communications, LLC
[email protected]