FLORHAM PARK, N.J., Dec. 23, 2021 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (NASDAQ:PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology, today announced that the compensation committee of the board of directors of the Company approved, on December 20, 2021, an equity award to Michael Lalond, the Company’s new Director of Quality Assurance, as a material inducement to Mr. Lalond entering into employment with PDS Biotech.
An inducement grant of 20,000 shares of PDS Biotech’s common stock, in accordance with Nasdaq Listing Rule 5635(c)(4), was awarded as part of Mr. Lalond’s compensation. The award was granted under PDS Biotech’s 2019 Inducement Plan, as amended, in accordance with Nasdaq Listing Rule 5635(c)(4) and provides for the granting of equity awards to new employees of PDS Biotech. The option award has an exercise price of $8.87, the closing price of PDS Biotech’s common stock on December 20, 2021. The option award vests over a four-year period, with one-quarter of the shares vesting on the first anniversary of the grant date December 20, 2022 and then monthly over the following 36 months, subject to continued employment with the Company through the applicable vesting dates.
About PDS Biotechnology
PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of cancer immunotherapies based on the Company’s proprietary Versamune® T-cell activating technology platform. Our Versamune®-based products have demonstrated the potential to overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. The Company’s pipeline products address various cancers …
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