FLORHAM PARK, N.J., Jan. 06, 2021 (GLOBE NEWSWIRE) -- PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing novel cancer therapies and infectious disease vaccines based on the Company’s proprietary Versamune T-cell activating technology, today announced that the Compensation Committee of the PDS Board of Directors approved the grant of inducement stock options covering an aggregate of 202,800 shares of PDS Biotech’s common stock to the newly appointed Chief Financial Officer, Seth Van Voorhees in accordance with Nasdaq Listing Rule 5635(c)(4).

The awards were granted under PDS Biotech’s 2019 Inducement Plan, which was adopted on June 17, 2019 and provides for the granting of equity awards to new employees of PDS Biotech. The stock options have an exercise price of $2.28, the closing price of PDS Biotech’s common stock on January 4, 2021. Each stock option vests over a four-year period, with one-quarter of the shares vesting on the first anniversary of the grant date and then monthly over the following 36 months, subject to continued employment with the company through the applicable vesting dates.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company with a growing pipeline of cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune® T-cell activating technology platform. Versamune® effectively delivers disease-specific antigens for in vivo uptake and processing, while also activating the critical type 1 interferon immunological pathway, resulting in production of potent disease-specific killer T-cells as well as neutralizing antibodies. PDS Biotech has engineered multiple therapies, based on combinations of Versamune® and disease-specific antigens, designed to train the immune system to better recognize disease cells and effectively attack and destroy them. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.