PDS Biotech Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
September 23 2022 - 4:05PM
PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage
immunotherapy company developing a growing pipeline of targeted
immunotherapies for cancer and infectious disease, today announced
PDS Biotech granted nonstatutory stock options to (a) Amber King,
PDS Biotech’s Clinical Trial Assistant, to purchase 5,000 shares of
PDS Biotech common stock, (b) Charliene Casey, PDS Biotech’s
Associate Director, Data Management, to purchase 12,000 shares of
PDS Biotech’s common stock, and (c) David Schaaf, PDS Biotech’s
Vice President, Medical Affairs, to purchase 70,000 shares of PDS
Biotech’s common stock, in each case, as a material inducement to
their employment with PDS Biotech and in accordance with Nasdaq
Listing Rule 5635(c)(4) and PDS Biotech’s 2019 Inducement Plan, as
amended, which was adopted on June 17, 2019 and provides for the
granting of equity awards to new employees of PDS Biotech.
Each stock option has an exercise price
of $3.18, the closing price of PDS Biotech’s common stock
on September 22, 2022. Each stock option vests over a four-year
period, with one-quarter of the shares vesting on the first
anniversary of the grant date and the remaining shares vesting
monthly over the 36-month period thereafter, subject to continued
employment with the company through the applicable vesting
dates.
About PDS Biotechnology
PDS Biotech is a clinical-stage immunotherapy
company developing a growing pipeline of targeted cancer and
infectious disease immunotherapies based on the Company’s
proprietary Versamune® and Infectimune™ T-cell activating
technology platforms. Our Versamune® based products have
demonstrated the potential to overcome the limitations of current
immunotherapy by inducing in vivo, large quantities of
high-quality, highly potent polyfunctional tumor specific CD4+
helper and CD8+ killer T-cells. PDS Biotech has developed multiple
therapies, based on combinations of Versamune® and disease-specific
antigens, designed to train the immune system to better recognize
diseased cells and effectively attack and destroy them. The
Company’s pipeline products address various cancers including
HPV16-associated cancers (anal, cervical, head and neck, penile,
vaginal, vulvar) and breast, colon, lung, prostate and ovarian
cancers.
Our Infectimune™ based vaccines have
demonstrated the potential to induce not only robust and durable
neutralizing antibody responses, but also powerful T-cell responses
including long-lasting memory T-cell responses. To learn more,
please visit www.pdsbiotech.com or follow us on Twitter at
@PDSBiotech.
Forward Looking Statements
This communication contains forward-looking
statements (including within the meaning of Section 21E of the
United States Securities Exchange Act of 1934, as amended, and
Section 27A of the United States Securities Act of 1933, as
amended) concerning PDS Biotechnology Corporation (the “Company”)
and other matters. These statements may discuss goals, intentions
and expectations as to future plans, trends, events, results of
operations or financial condition, or otherwise, based on current
beliefs of the Company’s management, as well as assumptions made
by, and information currently available to, management.
Forward-looking statements generally include statements that are
predictive in nature and depend upon or refer to future events or
conditions, and include words such as “may,” “will,” “should,”
“would,” “expect,” “anticipate,” “plan,” “likely,” “believe,”
“estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook”
and other similar expressions among others. Forward-looking
statements are based on current beliefs and assumptions that are
subject to risks and uncertainties and are not guarantees of future
performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various
factors, including, without limitation: the Company’s ability to
protect its intellectual property rights; the Company’s anticipated
capital requirements, including the Company’s anticipated cash
runway and the Company’s current expectations regarding its plans
for future equity financings; the Company’s dependence on
additional financing to fund its operations and complete the
development and commercialization of its product candidates, and
the risks that raising such additional capital may restrict the
Company’s operations or require the Company to relinquish rights to
the Company’s technologies or product candidates; the Company’s
limited operating history in the Company’s current line of
business, which makes it difficult to evaluate the Company’s
prospects, the Company’s business plan or the likelihood of the
Company’s successful implementation of such business plan; the
timing for the Company or its partners to initiate the planned
clinical trials for PDS0101, PDS0203 and other Versamune® and
Infectimune™-based product candidates; the future success of such
trials; the successful implementation of the Company’s research and
development programs and collaborations, including any
collaboration studies concerning PDS0101, PDS0203 and other
Versamune® and Infectimune™-based product candidates and the
Company’s interpretation of the results and findings of such
programs and collaborations and whether such results are sufficient
to support the future success of the Company’s product candidates;
the success, timing and cost of the Company’s ongoing clinical
trials and anticipated clinical trials for the Company’s current
product candidates, including statements regarding the timing of
initiation, pace of enrollment and completion of the trials
(including the Company’s ability to fully fund its disclosed
clinical trials, which assumes no material changes to our currently
projected expenses), futility analyses, presentations at
conferences and data reported in an abstract, and receipt of
interim results (including, without limitation, any preclinical
results or data), which are not necessarily indicative of the final
results of the Company’s ongoing clinical trials; any Company
statements about its understanding of product candidates mechanisms
of action and interpretation of preclinical and early clinical
results from its clinical development programs and any
collaboration studies; and other factors, including legislative,
regulatory, political and economic developments not within the
Company’s control, including unforeseen circumstances or other
disruptions to normal business operations arising from or related
to COVID-19. The foregoing review of important factors that could
cause actual events to differ from expectations should not be
construed as exhaustive and should be read in conjunction with
statements that are included herein and elsewhere, including the
risk factors included in the Company’s annual and periodic reports
filed with the SEC. The forward-looking statements are made only as
of the date of this press release and, except as required by
applicable law, the Company undertakes no obligation to revise or
update any forward-looking statement, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
Versamune® is a registered trademark and
Infectimune™ is a trademark of PDS Biotechnology.
Investor Contacts:
Deanne RandolphPDS BiotechPhone: +1 (908)
517-3613drandolph@pdsbiotech.com
Rich CockrellCG CapitalPhone: +1 (404)
736-3838pdsb@cg.capital
MediaDave SchemeliaTiberend Strategic Advisors,
Inc.Phone: +1 (609) 468-9325dschemelia@tiberend.com
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