Biocept Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
February 02 2021 - 4:05PM
Business Wire
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 86,720 shares
of its common stock to 5 new employees. These inducement stock
options have a grant date of January 31, 2021, 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 $5.87 per
share, the closing price of Biocept’s common stock on January 29,
2021 (the first trading date immediately preceding 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210202005224/en/
LHA Investor Relations Jody Cain Jcain@lhai.com
310-691-7100
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