PLYMOUTH
MEETING, Pa., Feb. 3, 2023
/PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company
focused on developing and commercializing DNA medicines
to help treat and protect people from HPV-associated diseases,
cancer, and infectious diseases, today announced that it has made
an equity grant to a newly hired employee under its 2022 Inducement
Plan (the "Inducement Plan").
On February 2nd, 2023
(the "Grant Date"), the Compensation Committee of INOVIO's Board of
Directors approved the award of options to purchase an aggregate of
15,625 shares of common stock to a newly hired employee in
accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price of $1.79, the closing
price of INOVIO's common stock on the Grant Date. The stock option
will vest and become exercisable with respect to one-fourth of the
shares underlying the stock option vested on the Grant Date, and an
additional one-fourth of the shares underlying the stock option on
the first, second, and third anniversaries of the Grant Date. The
vesting of stock options will be subject to the employee's
continued employment with INOVIO on the applicable vesting dates.
The award is subject to the terms and conditions of a stock option
agreement under the Inducement Plan.
About INOVIO
INOVIO is a biotechnology company focused on developing and
commercializing DNA medicines to help treat and protect people from
HPV-associated diseases, cancer, and infectious diseases. INOVIO's
DNA medicines in development are delivered using its
investigational proprietary smart device, CELLECTRA®, to
produce immune responses against targeted pathogens and cancers.
For more information, visit www.inovio.com.
Contacts
Media:
Jennie Willson (267) 429-8567
jennie.willson@inovio.com
Investors: Thomas Hong (267) 440-4298
thomas.hong@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.