HAYWARD, Calif.--(BUSINESS WIRE)--Sep. 19, 2018--
Pulse Biosciences, Inc. (NASDAQ: PLSE), a medical technology company
developing a proprietary therapeutic tissue treatment based on its
Nano-Pulse StimulationTM (NPSTM) platform,
announced today that the Compensation Committee of the company’s Board
of Directors granted non-qualified stock options covering an aggregate
of 34,250 shares of Pulse Biosciences common stock to four new
non-executive employees under the Pulse Biosciences 2017 Inducement
Equity Incentive Plan on September 17, 2018.
The 2017 Inducement Equity Incentive Plan is used exclusively to grant
equity awards to individuals who were not previously an employee or
non-employee director of Pulse Biosciences as an inducement material to
such individual's entering into employment with Pulse Biosciences in
accordance with Nasdaq Marketplace Rule 5635(c)(4).
The options have an exercise price of $14.59 per share, which is equal
to the closing price of Pulse Biosciences common stock on September 17,
2018. The 34,250 shares underlying the option grants will vest and
become exercisable as to 25% of the shares on the first anniversary of
the recipient’s start date, and will vest and become exercisable as to
the remaining 75% of the shares in 36 equal monthly installments
following the first anniversary of the recipient’s start date, subject
to the recipient’s continued employment with Pulse Biosciences on these
vesting dates. The options are subject to the terms and conditions of
the 2017 Inducement Equity Incentive Plan and the award agreements
entered into with each recipient.
About Pulse Biosciences
Pulse Biosciences is a publicly listed clinical stage electroceutical
company pursuing multiple clinical applications of its proprietary
Nano-Pulse Stimulation technology. Nano-Pulse Stimulation (NPS) is a
non-thermal, precise, focal tissue treatment technology comprised of
nanosecond (billionth of a second) range pulsed electric fields that
directly affect the cell membrane and intracellular structures and
initiate cell death in treated cells. The initiation of cell death by
NPS results in a minimal inflammatory response, which improves healing
outcomes and supports the replacement of treated tissue cells with
healthy tissue cells. NPS’ unique mechanism of action to initiate cell
death has the potential to significantly benefit patients for multiple
medical applications in dermatology, immune-oncology, and in other
unique tissue targets. In cancerous lesions, NPS has been shown in
preclinical models to induce immunogenic cell death (ICD), which exposes
the unique antigens of the treated cells to the immune system and
enrolls immune system cells, such as cytotoxic T-cells to mount an
adaptive immune response. More information is available at www.pulsebiosciences.com.
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Source: Pulse Biosciences, Inc.
Pulse Biosciences, Inc.
Vice President and Chief Financial Officer
Gitanjali Jain Ogawa, 646-378-2949