Biocept Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
April 08 2022 - 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
519,140 shares of its common stock to 44 new employees, including
an inducement stock option to purchase 150,000 shares of its common
stock to Philippe Marchand, Ph.D., its new Chief Operations
Officer. The inducement stock options have a grant date of March
31, 2022, 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 $2.32 per
share, the closing price of Biocept’s common stock on March 31,
2022, 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 employees’
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, as amended.
About Biocept
Biocept, Inc. develops and commercializes molecular diagnostic
assays that provide physicians with clinically actionable
information for treating and monitoring patients diagnosed with a
variety of cancers. In addition to its broad portfolio of
blood-based liquid biopsy assays, Biocept has developed the CNSide™
cerebrospinal fluid assay that detects cancer that has metastasized
to the central nervous system. Biocept’s patented Target Selector™
technology captures and quantitatively analyzes cerebrospinal fluid
tumor cells for tumor-associated molecular markers, using
technology first developed for use in blood. Biocept also is
leveraging its molecular diagnostic capabilities to offer
nationwide COVID-19 RT-PCR testing to support public health efforts
during this unprecedented pandemic. For more information, visit
www.biocept.com. Follow Biocept on Facebook, LinkedIn and
Twitter.
Forward-Looking Statements Disclaimer
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 Biocept believes that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, Biocept can
give no assurance that such expectations and assumptions will prove
to have been correct. Forward-looking statements are generally
identifiable by the use of words like “may,” “will,” “could,”
“expect,” or “believe” or the negative of these words or other
variations on these words or comparable terminology. To the extent
that statements in this release are not strictly historical,
including without limitation statements regarding the capabilities
and potential benefits of Biocept’s CNSide assay and the ability of
Biocept’s assays to provide physicians with clinically actional
information, 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 Biocept’s products and services may not
perform as expected. These and other risks are described in greater
detail under the “Risk Factors” heading of Biocept’s Annual Report
on Form 10-K for the year ended December 31, 2021, filed with the
Securities and Exchange Commission (SEC) on April 5, 2022. The
effects of such risks and uncertainties could cause Biocept’s
actual results to differ materially from the forward-looking
statements contained in this release. Biocept does not plan to
update any such forward-looking statements and expressly disclaims
any duty to update the information contained in this press release
except as required by law. Readers are advised to review Biocept’s
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/20220408005449/en/
Investor Contact: Jody Cain, LHA Investor Relations
Jcain@lhai.com, 310-691-7100
Media Contact: Andrea Sampson, Sampson PR Group
asampson@sampsonprgroup.com, 562-304-0301
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