Pulse Biosciences Grants Equity Incentive Awards to New Employees
Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or the “Company”), a novel medical therapy company bringing to market its proprietary CellFX™ Nano-Pulse Stimulation™ (NPS™) platform, announced today that the Compensation Committee of the Company’s Board of Directors granted non-qualified stock options covering an aggregate of 23,750 shares of Pulse Biosciences common stock to three new non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on January 15, 2019.
The 2017 Inducement Equity Incentive Plan is used exclusively to grant equity awards to individuals who were not previously an employee or non-employee director of Pulse Biosciences as an inducement material to such individual’s entering into employment with Pulse Biosciences in accordance with Nasdaq Marketplace Rule 5635(c)(4).
The options have an exercise price of $11.69 per share, which is equal to the closing price of Pulse Biosciences common stock on January 15, 2019. The 23,750 shares underlying the option grants will vest and become exercisable as to 25% of the shares annually beginning on the first anniversary of the recipient's start date, subject to the recipient's continued employment with Pulse Biosciences on these vesting dates. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan and the award agreements entered into with each recipient.
About Pulse Biosciences
Pulse Biosciences is a novel medical therapy company bringing to market its proprietary CellFX™ Nano-Pulse Stimulation™ (NPS™) platform. The Company’s CellFX NPS platform provides a novel, precise, non-thermal treatment technology delivering nanosecond duration energy pulses that impact cells in treated tissue while sparing acellular tissue. NPS’s unique mechanism of action disrupts the functions of internal cell structures while maintaining the outer cell membrane initiating a cascade of events within the cell that results in regulated cell death. The novel characteristics of the Company’s NPS mechanism of action has the potential to significantly benefit patients across multiple medical applications, including dermatology, the Company’s first planned commercial application. In pre-clinical studies, NPS has demonstrated an ability to induce immunogenic cell death in several cancer cell lines. The Company believes its NPS platform may play a role in immuno-oncology as a focal tumor treatment that can initiate an adaptive immune response. More information can be found at www.pulsebiosciences.com.
Caution: Pulse Biosciences’ Nano-Pulse Stimulation (NPS) and CellFX system are for investigational use.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190115005941/en/