PLYMOUTH
MEETING, Pa., July 1, 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 an option to purchase an aggregate of 1,400
shares of common stock, with a grant date of June 30, 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 $8.08, which is equal to the closing price of
INOVIO's common stock on June 28,
2024. The stock option will vest and become exercisable with
respect to one-fourth of the shares underlying the stock option on
the Grant Date, and an additional one-fourth of the shares
underlying the stock option on the first, second, and third
anniversaries of the Grant Date. The vesting of the stock option
will be subject to the employee's continued employment with INOVIO
on the applicable vesting dates. The award is subject to the terms
and conditions of a stock option agreement 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.