Plus Therapeutics Announces Inducement Stock Grants
July 06 2020 - 8:01AM
Plus Therapeutics, Inc. (Nasdaq: PSTV) today announced that the
compensation committee of the Company’s board of directors approved
an inducement grant of stock options to purchase a total of 40,000
shares of common stock to Dr. Gregory Stein with a grant date of
June 29, 2020 and an exercise price equal to $2.11, the fair market
value on the grant date and a total of an additional 40,000 shares
of common stock to Andrew Sims with a grant date of February 6,
2020 and an exercise price equal to $2.23, the fair market value on
the grant date.
The options issued to Mr. Stein and Mr. Sims, respectively, have
a ten year term and vest over four years, with 25% vesting on the
one-year anniversary of the employee’s first day of employment with
the Company and 1/36 of the remaining shares vesting monthly
thereafter, subject to Dr. Stein’s and Mr. Sims’ continued service
relationship with the Company, respectively, on each such date. The
options are being granted under the Company’s 2015 New Employee
Incentive Plan, which was amended on February 6, 2020 to add
250,000 additional shares of common stock to the pool of shares to
be used exclusively for the grant of inducement awards in
compliance with Nasdaq Listing Rule 5635(c)(4). The options issued
to Dr. Stein and to Mr. Sims are subject to the terms and
conditions of the Company’s 2015 New Employee Incentive Plan and
the stock option agreements pursuant to which the stock options
have been granted and were made as an inducement material to each
entering into employment with the Company in reliance of the
exemption under Nasdaq Listing Rule 5635(c)(4).
About Plus Therapeutics, Inc.
Plus Therapeutics is a clinical-stage pharmaceutical company
focused on making a positive impact on patients’ lives and adding
value to the healthcare system. We are a publicly-traded company on
Nasdaq (PSTV, an abbreviation of ‘POSITIVE’) with our headquarters
in Austin, Texas and GMP-validated manufacturing facilities in San
Antonio, Texas. The location of our operations provides us
with many potential strategic advantages, including proximity to
world-class cancer institutions and researchers and the ability to
qualify and apply for funding through the Cancer Prevention and
Research Institute of Texas, or CPRIT. Our pipeline of
candidate drug products includes our lead drug product candidates,
RNL™ and DocePLUS™, which are being developed in the U.S. by a
dedicated and energetic team of biologists, chemists, engineers,
physicians and other professionals. This diverse and experienced
team uses versatile and proprietary nanotechnology to reformulate
and deliver chemotherapeutics and radiotherapeutics to provide
meaningful benefits to patients and healthcare providers. Our
technology platform serves as the foundation of our drug product
pipeline and affords us the opportunity to develop additional drugs
for rare cancers. More information may be found
at www.plustherapeutics.com.
Contact:Plus Therapeutics,
Inc. Andrew SimsVP – Chief Financial Officer,
Investor RelationsPhone:
+1.619.333.4150Email: ir@plustherapeutics.com Website: plustherapeutics.com
Plus Therapeutics (NASDAQ:PSTV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Plus Therapeutics (NASDAQ:PSTV)
Historical Stock Chart
From Apr 2023 to Apr 2024