SAN DIEGO--(BUSINESS WIRE)--Biocept (Nasdaq: BIOC), a leading provider of molecular diagnostic assays and services, today announced that it has granted inducement stock options to purchase an aggregate of 220,800 shares of its common stock to 16 new employees. These inducement stock options have a grant date of August 31, 2021, and were granted as inducements material to the new employees entering into employment with Biocept in accordance with Nasdaq Listing Rule 5635(c)(4).
The inducement stock options have an exercise price of $3.62 per share, the closing price of Biocept’s common stock on August 31, 2021, are non-qualified stock options, have a ten-year term and vest over four years, with 25% of the shares vesting on the one-year anniversary of the vesting commencement date and the remaining 75% of the shares vesting in equal monthly installments over the following 36 months, subject to the new employee’s continued service with Biocept through the applicable vesting dates. The inducement stock options are subject to the terms and conditions of Biocept’s Amended and Restated 2013 Equity Incentive Plan.
Biocept, Inc., develops and commercializes molecular diagnostic assays that provide physicians with clinically actionable information to aid in the diagnosis, treatment and monitoring of patients with cancer. In addition to its broad portfolio of blood-based liquid biopsy tests, the company has developed the CNSide cerebrospinal fluid assay, designed to diagnose cancer that has metastasized to the central nervous system. Biocept also is leveraging its molecular diagnostic capabilities to offer nationwide RT-PCR-based COVID-19 testing and services to support public health efforts during this unprecedented pandemic. For more information, visit www.biocept.com. Follow Biocept on Facebook, LinkedIn and Twitter.