T2 Biosystems Reports Granting of Inducement Awards
July 09 2018 - 4:15PM
T2 Biosystems, Inc. (NASDAQ:TTOO), an emerging leader in the
development and commercialization of innovative medical diagnostic
products for critical unmet needs in healthcare, announced today
that on July 2, 2018 it issued inducement awards to three new
employees.
These awards were made under T2 Biosystems’ Inducement Award
Plan (the "Inducement Plan"), which was adopted by the company’s
Board of Directors on March 1, 2018 and provides for the granting
of equity awards to new employees of T2 Biosystems. The inducement
awards consist of options to purchase 19,500 shares of T2
Biosystems common stock and have a ten-year term. The exercise
price of the options is $7.82, which was the per-share closing
price of T2 Biosystems common stock on the Nasdaq Capital Market on
July 2, 2018. The options vest over a four-year period, with 25%
vesting on the first anniversary of the employee’s date of hire and
the remainder vesting in equal monthly installments over the three
years thereafter. The award was approved by the independent
compensation committee of T2 Biosystems’ board of directors and was
granted as an inducement material to the new employee entering into
employment with T2 Biosystems in accordance with Nasdaq Marketplace
Rule 5635(c)(4).
About T2 Biosystems:
T2 Biosystems, an emerging leader in the
development and commercialization of innovative medical diagnostic
products for critical unmet needs in healthcare, is dedicated to
improving patient care and reducing the cost of care by helping
clinicians effectively treat patients faster than ever before. T2
Biosystems’ products include the T2Dx® Instrument, T2Candida®
Panel, and T2Bacteria® Panel and are powered by the proprietary T2
Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active
pipeline of future products, including products for the detection
of additional species and antibiotic resistance markers of sepsis
pathogens, and tests for Lyme disease.
Media Contact:Tom Langford, Feinstein Kean
Healthcare tom.langford@fkhealth.com 617-771-4510
Investor Contact: Matthew Clawson, W2O
Groupmclawson@w2ogroup.com949-370-8500
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