PLYMOUTH
MEETING, Pa., June 1, 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").
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, with a grant date of
May 31st, 2023 (the
"Grant Date"), to the newly hired employee in accordance with
Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price of $0.60, 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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content:https://www.prnewswire.com/news-releases/inovio-reports-inducement-grants-under-inducement-plan-301839827.html
SOURCE INOVIO Pharmaceuticals, Inc.