PLYMOUTH
MEETING, Pa., May 31, 2024
/PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company
focused on developing and commercializing DNA medicines
to help treat and protect people from HPV-related diseases,
cancer, and infectious diseases, today announced that it has
made an equity grant to a newly hired employee under its
2022 Inducement Plan (the "Inducement Plan").
The Compensation Committee of INOVIO's Board of Directors has
approved the award of options to purchase
an aggregate of 1,666 shares of common stock, with a
grant date of May 31, 2024 (the
"Grant Date"), to a newly hired employee in accordance
with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price of $10.13, the closing price of INOVIO's common
stock on the Grant Date. The stock options will vest and become
exercisable with respect to one-fourth of the shares underlying the
stock options on the Grant Date, and an additional one-fourth of
the shares underlying the stock options on the first, second, and
third anniversaries of the Grant Date. The vesting of the stock
options will be subject to the employee's continued employment with
INOVIO on the applicable vesting dates. Each of these awards is
subject to the terms and conditions of a stock option agreement, as
applicable, under the Inducement Plan.
About INOVIO
INOVIO is a biotechnology company focused
on developing and commercializing DNA medicines to help treat and
protect people from HPV-related diseases, cancer, and infectious
diseases. INOVIO's technology optimizes the design and delivery of
innovative DNA medicines that teach the body to manufacture its own
disease-fighting tools. For more information, visit
www.inovio.com.
Contacts
Media: Jennie
Willson, (267) 429-8567, jennie.willson@inovio.com
Investors: Thomas Hong, (267)
440-4298, thomas.hong@inovio.com
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SOURCE INOVIO Pharmaceuticals, Inc.