T2 Biosystems Reports Granting of Inducement Award
June 26 2020 - 8:00AM
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 May 5, 2020 and June 2,
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
May 5, 2020 consists of an option to purchase 3,000 shares of T2
Biosystems common stock and has a ten-year term. The exercise price
of the option was $0.596 which was the per-share closing price of
T2 Biosystems common stock on the Nasdaq Capital Market on May 5,
2020. The inducement awards granted on June 2, 2020 consist of
options to purchase 9,500 shares of T2 Biosystems common stock and
have a ten-year term. The exercise price of the options were $1.07
which was the per-share closing price of T2 Biosystems common stock
on the Nasdaq Capital Market on June 2, 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
T2Resistance™ Panel and are powered by the proprietary T2
Magnetic Resonance (T2MR®) technology. T2 Biosystems has an active
pipeline of future products, including the T2Cauris™ Panel,
T2SARS-CoV-2™ Panel, and T2Lyme™ Panel, as well as
additional products for the detection of bacterial and fungal
pathogens and associated antimicrobial resistance markers, as well
as biothreat pathogens.
Media Contact: Gina Kent, Vault
Communicationsgkent@vaultcommunications.com610-455-2763
Investor Contact: Philip Trip Taylor, Gilmartin
Groupphilip@gilmartinIR.com415-937-5406
T2 Biosystems (NASDAQ:TTOO)
Historical Stock Chart
From Mar 2024 to Apr 2024
T2 Biosystems (NASDAQ:TTOO)
Historical Stock Chart
From Apr 2023 to Apr 2024