PDS Biotechnology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
October 21 2021 - 4:30PM
PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage
immunotherapy company developing novel cancer therapies and
infectious disease vaccines based on the Company’s proprietary
Versamune® T-cell activating technology, today announced that on
October 19, 2021 PDS Biotech granted nonstatutory stock options to
(a) Matthew Hill, PDS Biotech’s Chief Financial Officer to purchase
202,800 shares of PDS Biotech common stock, (b) Siva K. Gandhapudi,
PDS Biotech’s Director, Immunology Drug Development, to purchase
10,000 shares of PDS Biotech’s common stock, (c) Sally Jones, PDS
Biotech’s Associate Director, Clinical Operation, to purchase
12,900 shares of PDS Biotech’s common stock, and (d) Mary Banoub,
PDS Biotech’s Scientist, R&D, to purchase 2,500 shares of PDS
Biotech’s common stock, each 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 $12.03, the closing price of PDS Biotech’s common
stock on October 19, 2021. 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 cancer immunotherapies
based on the Company’s proprietary Versamune® T-cell activating
technology platform. 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
breast, colon, lung, prostate and ovarian cancers. 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® based
products; 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® based products and the
Company’s or monitoring committees’ or other third parties’
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, significance of milestones, and
completion of the trials (including our ability to fully fund our
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, 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; the acceptance by the market of the
Company’s product candidates, if approved; the timing of and the
Company’s ability to obtain and maintain U.S. Food and Drug
Administration or other regulatory authority approval of, or other
action with respect to, the Company’s product candidates; 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.
Media & Investor Relations
Contact:
Deanne RandolphPDS BiotechPhone: +1 (908)
517-3613Email: drandolph@pdsbiotech.com
Rich CockrellCG CapitalPhone: +1 (404) 736-3838
Email: rich@cg.capital
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