HAYWARD, Calif.--(BUSINESS WIRE)--Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or the “Company”), a novel bioelectric medicine company bringing to market its proprietary CellFX™ System, announced today that the Compensation Committee of the Company’s Board of Directors granted non-qualified stock options covering an aggregate of 105,000 shares of Pulse Biosciences common stock to two recently hired non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on August 29, 2019.
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 $11.82 per share, which is equal to the closing price of Pulse Biosciences common stock on August 29, 2019. For one of the option grants, (i) half of the 65,000 shares underlying the option grant will vest and become exercisable as to 25% of the shares annually beginning on the first anniversary of the recipient’s start date; and (ii) the other half of the 65,000 shares underlying the option grant will vest in accordance with the achievement of corporate performance objectives through December 2022. The 40,000 shares underlying the other option grant will vest and become exercisable as to 33 1/3% of the shares annually beginning on the first anniversary of the recipient’s start date. Continued vesting for both option grants is subject to the recipient’s continued employment with Pulse Biosciences on the respective 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 novel bioelectric medicine company committed to health innovation that improves and extends the lives of patients. The Company utilizes its patented groundbreaking Nano-Pulse Stimulation™ (NPS™) technology to treat a variety of applications for which an optimal solution remains unfulfilled. NPS is a proprietary technology that delivers nano-second pulses of high amplitude electrical energy to non-thermally clear targeted cells while sparing adjacent non-cellular tissue. The cell-specific effects of NPS technology have been validated in a series of ongoing clinical trials. In addition, early pre-clinical evidence suggests that the NPS technology holds a promising future in immuno-oncology by demonstrating an ability to induce immunogenic cell death. The CellFX System, the first planned commercial product to harness the distinctive advantages of NPS technology, is preparing to launch in 2019 as a multi-application platform designed to address a broad range of dermatologic conditions. As part of the customer experience, the Company is offering an utilization-based revenue model and easy-access customer portal offering a suite of services. CellFX procedures offer customer value across an expanding spectrum of clinical applications. The initial commercial use will be the clearance of common skin lesions, including sebaceous hyperplasia (SH) and seborrheic keratosis (SK) – two prevalent and difficult-to-treat benign skin conditions that share high demand among patients and practitioners for improved and durable aesthetic outcomes that lead to greater overall satisfaction. For more information about Pulse Biosciences, proprietary NPS technology, or CellFX, please visit us at PulseBiosciences.com.
Caution: Pulse Biosciences’ CellFX System and Nano-Pulse Stimulation (NPS) technology are for investigational use only.
