SAN DIEGO, Dec. 31, 2020 /PRNewswire/
-- Biocept, Inc. (Nasdaq: BIOC), a leading commercial
provider of molecular diagnostic assays, products and services
designed to provide physicians with clinically actionable
information to improve patient outcomes, today announced that it
has granted inducement stock options to purchase an aggregate of
83,120 shares of its common stock to 14 new employees. These
inducement stock options have a grant date of December 31, 2020, and were granted as
inducements material to the new employees entering into employment
with Biocept in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock options have an exercise price of
$4.44 per share, the closing price of
Biocept's common stock on December 31,
2020 (the grant date), are non-qualified stock options, have
a ten-year term and vest over four years, with 25% of the shares
vesting on the one-year anniversary of the vesting commencement
date and the remaining 75% of the shares vesting in equal monthly
installments over the following 36 months, subject to the new
employee's continued service with Biocept through the applicable
vesting dates. The inducement stock options are subject to
the terms and conditions of Biocept's Amended and Restated 2013
Equity Incentive Plan.
About Biocept
Biocept, Inc. is a molecular
diagnostics company with commercialized assays for lung, breast,
gastric, colorectal and prostate cancers, and melanoma. The Company
uses its proprietary liquid biopsy technology to provide physicians
with clinically actionable information for treating and monitoring
patients diagnosed with cancer. The Company's patented Target
Selector™ liquid biopsy technology platform captures and analyzes
tumor-associated molecular markers in both circulating tumor cells
(CTCs) and in circulating tumor DNA (ctDNA). With thousands of
tests performed, the platform has demonstrated the ability to
identify cancer mutations and alterations to inform physicians
about a patient's disease and therapeutic options. Additionally,
Biocept is offering nationwide COVID-19 polymerase chain reaction
(PCR) testing to support public health efforts during this
unprecedented pandemic. For more information, please visit
www.biocept.com.
Forward-Looking Statements Disclaimer Statement
This
release contains forward-looking statements that are based upon
current expectations or beliefs, as well as a number of assumptions
about future events. Although we believe that the expectations
reflected in the forward-looking statements and the assumptions
upon which they are based are reasonable, we can give no assurance
that such expectations and assumptions will prove to have been
correct. To the extent that statements in this release are not
strictly historical, including without limitation statements
regarding the ability of our assays to improve the outcomes of
patients diagnosed with cancer, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to
numerous risks and uncertainties, including the risk that our
products and services may not perform as expected. These and other
risks are described in greater detail in our filings with the
Securities and Exchange Commission (SEC), including under the "Risk
Factors" heading of our Quarterly Report on Form 10-Q for the
quarter ended September 30, 2020. The effects of such risks
and uncertainties could cause actual results to differ materially
from the forward-looking statements contained in this release. We
do not plan to update any such forward-looking statements and
expressly disclaim any duty to update the information contained in
this press release except as required by law. Readers are advised
to review our filings with the SEC, which can be accessed over
the Internet at the SEC's website located
at www.sec.gov.
Investor Contact:
LHA Investor Relations
Jody Cain
Jcain@lhai.com
310-691-7100
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SOURCE Biocept, Inc.