Vector Science & Therapeutics Corp. announced on Tuesday that its board of directors has approved the grant of 206,610 stock options to certain directors, with an exercise price of C$1.69 per share. This action coincides with the company's recent completion of several strategic initiatives and its acceleration of a growth-oriented strategy.

According to the announcement, the granted options will vest over the remainder of 2026 under the company's stock option plan and have a five-year term from the grant date. This grant is subject to approval by the TSX Venture Exchange. The company's option plan is a 10% rolling plan, which currently reserves 6,556,610 common shares for issuance, with 8,792,446 options remaining available for future grants.

This option grant comes as the company actively advances several key strategic moves. Earlier this month, the company announced a three-year development and manufacturing agreement with the MPP Group. This arrangement integrates compound formulation, analytical testing, and Vector's patented transdermal delivery platform within a single FDA-registered, cGMP-compliant facility, aiming to accelerate development cycles and ensure quality from formulation to delivery. This setup supports the company's entry into the US$80.8 billion peptide therapeutics market with pharmaceutical-grade, room-temperature stable formulations. Under the agreement, the company funds and retains ownership of the peptide production equipment.

Furthermore, last month the company announced the filing of a provisional patent application covering a novel catheter platform for intratumoral drug delivery research, with initial scientific focus on pancreatic cancer. This platform integrates three research modalities: intratumoral delivery of cell-differentiating agents, electroablation based on differences in tumor tissue conductivity, and electroconductive chemotherapy activation.

The company completed its listing on the TSX Venture Exchange in April of this year under the ticker symbol PAIN, providing capital market support for the execution of this growth strategy. Headquartered in Mequon, Wisconsin, the company focuses on developing novel biomechanical devices and active local drug delivery platforms to provide clinicians with precise, targeted intervention solutions with low systemic risk.