HAYWARD, Calif.--(BUSINESS WIRE)--Pulse Biosciences, Inc. (Nasdaq: PLSE) (“Pulse Biosciences” or the “Company”), a novel medical therapy 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 28,000 shares of Pulse Biosciences common stock to three new non-executive employees under the Pulse Biosciences 2017 Inducement Equity Incentive Plan on April 15, 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 $16.02 per share, which is equal to the closing price of Pulse Biosciences common stock on April 15, 2019. The 28,000 shares underlying the option grants will vest and become exercisable as to 25% of the shares annually beginning on 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 novel medical therapy company bringing to market its proprietary CellFX™ System. The Company’s novel CellFX System provides a precise, non-thermal delivery of nanosecond duration energy pulses that impact cells in treated tissue while sparing non-cellular tissue. This unique mechanism of action disrupts the functions of internal cell structures while maintaining the outer cell membrane, initiating a cascade of events within the cell that results in regulated cell death. The novel characteristics of the Company’s CellFX System has the potential to significantly benefit patients across multiple medical applications, including dermatology, the Company’s first planned commercial application. In pre-clinical studies, Nano-Pulse Stimulation™ (NPS™) technology platform has demonstrated an ability to induce immunogenic cell death in several cancer cell lines. The Company believes its NPS technology platform may play a role in immuno-oncology as a focal tumor treatment that can initiate an adaptive immune response. More information can be found at www.pulsebiosciences.com.
Caution: Pulse Biosciences’ CellFX system and Nano-Pulse Stimulation (NPS) are for investigational use.