Biocept Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

SAN DIEGO--(BUSINESS WIRE)--Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products and services, today announced that it has granted inducement stock options to purchase an aggregate of 7,360 shares of its common stock to two new employees. The inducement stock options have a grant date of February 28, 2023 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 $0.52 per share, the closing price of Biocept’s common stock on February 28, 2023, 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 employees’ 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, as amended.

About Biocept

Biocept, Inc. develops and commercializes molecular diagnostic assays that provide physicians with clinically actionable information for treating and monitoring patients diagnosed with a variety of cancers. For more information, visit www.biocept.com. Follow Biocept on Facebook, LinkedIn, Twitter, and Instagram.