PDS Biotechnology Corporation Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
July 03 2019 - 8:30AM
PDS Biotechnology Corporation (“PDS Biotechnology”) (Nasdaq: PDSB),
a clinical-stage immuno-oncology company pioneering the development
of novel multifunctional immunotherapeutic products, today
announced that on June 28, 2019 the Compensation Committee of PDS’
Board of Directors approved the grant of inducement stock options
covering an aggregate of 70,000 shares of PDS’ common stock to four
new employees in accordance with Nasdaq Listing Rule 5635(c)(4).
The awards were granted under PDS’ 2019 Inducement Plan, which
was adopted on June 17, 2019 and provides for the granting of
equity awards to new employees of PDS. Each of the stock options
has an exercise price of $5.99, the closing price of PDS’ common
stock on June 28, 2019. Each stock option vests over a four-year
period, with one-quarter of the shares vesting on the first
anniversary of the grant date (June 28, 2020) and then monthly over
the following 36 months, subject to continued employment with the
company through the applicable vesting dates.
About the Versamune® Cationic Lipid
Platform TechnologyVersamune® is a proprietary, clinical
stage, synthetic lipid-based immunotherapy platform. PDS
Biotechnology’s pipeline of Versamune®-based products, which are
administered by subcutaneous injection, provides strong activation
of type I interferon genes. The Versamune® mechanism of action
also involves effective presentation of tumor antigens via the MHC
Class I and Class II pathways. These mechanisms together promote
strong in-vivo induction of polyfunctional tumor-targeting CD8+
T-cells. This result, as well as a high degree of safety, was
confirmed in the PDS0101 monotherapy Phase 1/2a human clinical
trial.
Versamune®-based immunotherapies have been
demonstrated to alter the tumor micro-environment in preclinical
mechanism of action studies, thus further enhancing the ability of
Versamune®-induced T-cells to effectively kill tumor
cells. Versamune® is now being applied to the development of
multiple clinical-stage cancer products, including those intended
to address both early and late-stage cancer indications as
monotherapies, as well as combinations with other successful
immuno-oncology approaches such as checkpoint inhibitors.
About PDS Biotechnology
PDS Biotechnology is a clinical stage
immuno-oncology company with a growing pipeline of clinical-stage
immunotherapies to treat various early-stage and late-stage
cancers, including head and neck cancer, cervical, anal, prostate,
breast and other cancers.
PDS Biotechnology’s lead product candidate,
PDS0101 (Versamune®-HPV) is a proprietary clinical stage
immunotherapeutic administered by subcutaneous injection being
developed to treat HPV-associated cancers such as head and neck
cancers and anal cancers, both of which are widely reported to be
increasing in frequency over the last decade, as well as cervical,
penile, vaginal and vulvar cancers and their pre-cancerous
conditions. In a human Phase 1/2a clinical study, PDS0101
monotherapy demonstrated potent in-vivo induction of the critical
phenotype of tumor-attacking killer (CD8) T-cells, and induction of
memory T-cells. No dose-limiting toxicities were observed in this
study, suggesting potential for a rare combination of potency and
safety among immune-oncology therapeutics.
For additional information about PDS, please
visit www.pdsbiotech.com.
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,” and
other similar expressions among others. Statements that are not
historical facts are forward-looking statements. 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 ability of the Company
to integrate Edge and PDS Biotechnology following the merger; the
Company’s ability to protect its intellectual property rights;
competitive responses to the completion of the merger; potential
adverse reactions or changes to business relationships resulting
from the completion of the merger; the Company’s ability to access
capital markets, the timing for the Company to initiate two
clinical trials for its lead asset, PDS0101; the successful
implementation of the Company’s research and development programs
and collaborations; the acceptance by the market of the Company’s
product candidates, if approved; and other factors, including
legislative, regulatory, political and economic developments not
within the Company’s control. 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:
Tram Bui / Alexander LoboThe Ruth GroupPhone:
+1-646-536-7035 / +1-646-536-7037Email: tbui@theruthgroup.com /
alobo@theruthgroup.com
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