Science 37 Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
March 10 2023 - 05:25PM
GlobeNewswire Inc.
Science 37 Holdings, Inc. (Nasdaq: SNCE), the industry-leading
Metasite™, today announced the granting of inducement equity awards
under the Science 37 Holdings, Inc. 2022 Employment Inducement
Incentive Award Plan (the “Plan”). The Plan was approved by Science
37’s Board of Directors in November 2022. In accordance with NASDAQ
Listing Rule 5635(c)(4), the awards were approved by Science 37’s
Compensation Committee and made as a material inducement to the
non-executive employees' entry into employment with the Company.
In connection with the commencement of employment, on March
10, 2023, options to purchase an aggregate 86,300 shares of
Science 37 common stock at an exercise price of $0.24 per
share, which was the closing sales price of Science 37’s common
stock on the Nasdaq Stock Market LLC on the date of grant, were
granted to 13 new employees.
The options have a 10-year term and a four-year vesting
schedule, with 25% of the shares subject to the option vesting on
the first anniversary of the grant date and the remaining
underlying shares vesting in equal monthly installments until fully
vested on the fourth anniversary of the grant date, subject to the
applicable employee's continued service with Science 37 through
each applicable vesting date.
About Science 37Science 37 Holdings, Inc.’s
(Nasdaq: SNCE) mission is to accelerate clinical research by
enabling universal trial access for patients. As a single Metasite™
Science 37 reaches an expanded patient population beyond the
traditional site and delivers the recruiting power of up to 20
sites in one with greater patient diversity. Patients gain the
flexibility to participate from the comfort of their own home, at
their local community provider, or at a traditional site when
needed. The Science 37 Metasite is powered by a proprietary
technology platform, in addition to in-house investigators, mobile
nurses, and remote coordinators that drive uniform study
orchestration, enabling greater compliance and high-quality data.
To learn more, visit www.science37.com, or email
science37@science37.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains certain
forward-looking statements within the meaning of the federal
securities laws, including statements regarding the products
offered by Science 37 and the markets in which it operates, and
Science 37’s anticipated growth and profitability. These
forward-looking statements generally are identified by the words
“believe,” “can,” “could”, “seek”, “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “might”, “should,” “will,” “would,”
“will be,” “will continue,” “will likely result” and similar
expressions. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, including but not limited to: (i)
the ability to maintain the listing of Science 37’s securities on
Nasdaq, (ii) volatility in the price of Science 37’s securities due
to a variety of factors, including changes in the competitive and
highly regulated industries in which Science 37 operates,
variations in performance across competitors, changes in laws and
regulations affecting Science 37’s business, changes in its capital
structure, and general economic and financial market conditions,
including fluctuations in currency exchange rates, economic
instability, and inflationary conditions (iii) the ability to
implement business plans, forecasts, and other expectations, and to
identify and realize additional opportunities, (iv) the risk that
Science 37 may never achieve or sustain profitability, (v) the risk
that Science 37 will need to raise additional capital to execute
its business plan, which may not be available on acceptable terms
or at all, and (vi) risks related to the general economic and
financial market conditions. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of our Annual Report on Form 10-K for the fiscal year ended
December 31, 2021 filed with the U.S. Securities and Exchange
Commission (the “SEC”) on March 22, 2022 and in our other documents
filed by Science 37 from time to time with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Science 37 assumes no obligation and does not intend to update
or revise these forward-looking statements, whether as a result of
new information, future events, or otherwise, except as required by
law. Science 37 does not give any assurance that Science 37 will
achieve its expectations.
MEDIA INQUIRIES:Grazia MohrenScience
37PR@science37.com
INVESTOR RELATIONS:Steve HalperLifeSci
AdvisorsInvestors@science37.com
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