PLYMOUTH
MEETING, Pa., Nov. 1, 2023
/PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company
focused on developing and commercializing DNA medicines
to help treat and protect people from HPV-associated 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 15,625 shares of common stock, with a
grant date of October 31, 2023 (the "Grant Date"), to the
newly hired employee in accordance with Nasdaq Listing Rule
5635(c)(4).
The stock option has an exercise price of $0.36, the closing price of INOVIO's common stock
on the Grant Date. The stock option will vest and become
exercisable with respect to one-fourth of the shares underlying the
stock option vested 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.
This award 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.