Biocept Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
March 03 2021 - 4:05PM
Business Wire
Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular
diagnostic assays, products and services, today announced that it
has granted inducement stock options to purchase an aggregate of
38,250 shares of its common stock to six new employees. These
inducement stock options have a grant date of February 28, 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 $6.03 per
share, the closing price of Biocept’s common stock on February 26,
2021 (which is the last date preceding the grant date on which the
closing price of Biocept’s common stock was reported), 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 developing and
commercializing assays for lung, breast, gastric, colorectal and
prostate cancers, and melanoma. The Company uses its proprietary
technology to provide physicians with clinically actionable
information for treating and monitoring patients diagnosed with
cancer. The Company’s patented Target Selector™ molecular
diagnostic 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 additional information, please visit
www.biocept.com. Follow Biocept on Facebook, LinkedIn and
Twitter.
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Investor Contact: LHA Investor Relations Jody Cain
Jcain@lhai.com 310-691-7100
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