T2 Biosystems Reports Granting of Inducement Award
April 15 2020 - 5:06PM
T2 Biosystems, Inc. (NASDAQ:TTOO) a leader in the rapid detection
of sepsis-causing pathogens, announced today that it issued
inducement awards to four new employees.
The awards were made on March 18, 2020 and April
14, 2020 under T2 Biosystems’ Inducement Award Plan (the
"Inducement Plan"), which was adopted on March 1, 2018 and amended
and restated on January 8, 2020 and provides for the granting of
equity awards to new employees of T2 Biosystems. The inducement
award granted on March 18, 2020 consists of an option to purchase
40,000 shares of T2 Biosystems common stock and has a ten-year
term. The exercise price of the option was $0.365, which was the
per-share closing price of T2 Biosystems common stock on the Nasdaq
Capital Market on March 18, 2020. The inducement award granted on
April 14, 2020 consists of options to purchase 19,000 shares of T2
Biosystems common stock and has a ten-year term. The exercise price
of the options were $0.558, which was the per-share closing price
of T2 Biosystems common stock on the Nasdaq Capital Market on April
14, 2020. The options vest in equal monthly installments over the
four-year period following the grant date. The award was approved
by the independent compensation committee of T2 Biosystems’ board
of directors and was granted as an inducement material to the new
employee entering into employment with T2 Biosystems in accordance
with Nasdaq Marketplace Rule 5635(c)(4).
About T2 Biosystems:T2
Biosystems, a leader in the rapid detection of sepsis-causing
pathogens, is dedicated to improving patient care and reducing the
cost of care by helping clinicians effectively treat patients
faster than ever before. T2 Biosystems’ products include the T2Dx®
Instrument, T2Candida® Panel, the T2Bacteria® Panel, and the
T2ResistanceTM Panel and are powered by the proprietary T2 Magnetic
Resonance (T2MR®) technology. T2 Biosystems has an active pipeline
of future products, including products for the detection of
additional species and antibiotic resistance markers of sepsis
pathogens, and tests for Lyme disease.
Media Contact: Gina Kent, Vault
Communicationsgkent@vaultcommunications.com610-455-2763
Investor Contact: Philip Trip Taylor, Gilmartin
Group philip@gilmartinIR.com 415-937-5406
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