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PDSB - PDS Biotechnology News Story

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Last Trade - 06/12/21

Small Cap
Market Cap £180.5m
Enterprise Value £127.9m
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Position in Universe 4651st / 7335

PDS Biotech Reports An Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)

Wed 15th September, 2021 1:30pm
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FLORHAM PARK, N.J., Sept. 15, 2021 (GLOBE NEWSWIRE) -- PDS Biotechnology
Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing
novel cancer therapies based on the Company’s proprietary Versamune(®)
T-cell activating technology, today announced that the compensation committee
of the board of directors of the Company approved, on September 13, 2021, an
equity award to Gregory Reid, the Company’s new VP of Program Development,
as a material inducement to Mr. Reid entering into employment with PDS

Prior to joining PDS Biotech, Mr. Reid amassed more than 30 years of
experience in the pharmaceutical industry, primarily in drug development. Mr.
Reid has worked extensively with biotech firms, successfully bringing several
novel molecules targeting oncology and anti-fungal therapies from the bench
through development. Internationally, Mr. Reid led many drug development
programs in North America, Europe and Asia. Mr. Reid holds a M.Sc. in
immunology from McGill University and an MBA from the John Molson School of
Business at Concordia University, and is the author of more than 20
peer-reviewed manuscripts and abstracts.

“Greg brings a breadth of experience to PDS Biotech to support the
advancement of the company’s innovative pipeline,” said PDS Biotech CEO,
Frank Bedu-Addo. “He is an expert in oncology product development.”

An inducement grant of 63,800 shares of PDS Biotech’s common stock, in
accordance with Nasdaq Listing Rule 5635(c)(4), was awarded as part of Mr.
Reid’s compensation. The awards were granted under PDS Biotech’s 2019
Inducement Plan, as amended, in accordance with Nasdaq Listing Rule 5635(c)(4)
and provides for the granting of equity awards to new employees of PDS
Biotech. The option award has an exercise price of $14.99, the closing price
of PDS Biotech’s common stock on September 13, 2021. The option award vests
over a four-year period, with one-quarter of the shares vesting on the first
anniversary of the grant date (September 13, 2022) 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 developing a growing
pipeline of cancer immunotherapies based on the Company’s proprietary
Versamune(®) T-cell activating technology platform. Our Versamune(®)-based
products have demonstrated the potential to overcome the limitations of
current immunotherapy by inducing in vivo, large quantities of high-quality,
highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer
T-cells. PDS Biotech has developed multiple therapies, based on combinations
of Versamune(®) and disease-specific antigens, designed to train the immune
system to better recognize diseased cells and effectively attack and destroy
them.  The company’s pipeline products address various cancers including
breast, colon, lung, prostate and ovarian cancers.  To learn more, please
visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

Forward Looking Statements
This communication contains forward-looking statements (including within the
meaning of Section 21E of the United States Securities Exchange Act of 1934,
as amended, and Section 27A of the United States Securities Act of 1933, as
amended) concerning PDS Biotechnology Corporation (the “Company”) and
other matters. These statements may discuss goals, intentions and expectations
as to future plans, trends, events, results of operations or financial
condition, or otherwise, based on current beliefs of the Company’s
management, as well as assumptions made by, and information currently
available to, management. Forward-looking statements generally include
statements that are predictive in nature and depend upon or refer to future
events or conditions, and include words such as “may,” “will,”
“should,” “would,” “expect,” “anticipate,” “plan,”
“likely,” “believe,” “estimate,” “project,” “intend,”
“forecast,” “guidance”, “outlook” and other similar expressions
among others. Forward-looking statements are based on current beliefs and
assumptions that are subject to risks and uncertainties and are not guarantees
of future performance. Actual results could differ materially from those
contained in any forward-looking statement as a result of various factors,
including, without limitation: the Company’s ability to protect its
intellectual property rights; the Company’s anticipated capital
requirements, including the Company’s anticipated cash runway and the
Company’s current expectations regarding its plans for future equity
financings; the Company’s dependence on additional financing to fund its
operations and complete the development and commercialization of its product
candidates, and the risks that raising such additional capital may restrict
the Company’s operations or require the Company to relinquish rights to the
Company’s technologies or product candidates; the Company’s limited
operating history in the Company’s current line of business, which makes it
difficult to evaluate the Company’s prospects, the Company’s business plan
or the likelihood of the Company’s successful implementation of such
business plan; the timing for the Company or its partners to initiate the
planned clinical trials for PDS0101, PDS0203 and other Versamune(®) based
products; the future success of such trials; the successful implementation of
the Company’s research and development programs and collaborations,
including any collaboration studies concerning PDS0101, PDS0203 and other
Versamune(®) based products and the Company’s interpretation of the results
and findings of such programs and collaborations and whether such results are
sufficient to support the future success of the Company’s product
candidates; the success, timing and cost of the Company’s ongoing clinical
trials and anticipated clinical trials for the Company’s current product
candidates, including statements regarding the timing of initiation, pace of
enrollment and completion of the trials (including our ability to fully fund
our disclosed clinical trials, which assumes no material changes to our
currently projected expenses), futility analyses, presentations at conferences
and data reported in an abstract, and receipt of interim results, which are
not necessarily indicative of the final results of the Company’s ongoing
clinical trials;  any Company statements about its understanding of product
candidates mechanisms of action and interpretation of preclinical and early
clinical  results from its clinical development programs and any
collaboration studies; the acceptance by the market of the Company’s product
candidates, if approved; the timing of and the Company’s ability to obtain
and maintain U.S. Food and Drug Administration or other regulatory authority
approval of, or other action with respect to, the Company’s product
candidates; and other factors, including legislative, regulatory, political
and economic developments not within the Company’s control, including
unforeseen circumstances or other disruptions to normal business operations
arising from or related to COVID-19. The foregoing review of important factors
that could cause actual events to differ from expectations should not be
construed as exhaustive and should be read in conjunction with statements that
are included herein and elsewhere, including the risk factors included in the
Company’s annual and periodic reports filed with the SEC. The
forward-looking statements are made only as of the date of this press release
and, except as required by applicable law, the Company undertakes no
obligation to revise or update any forward-looking statement, or to make any
other forward-looking statements, whether as a result of new information,
future events or otherwise.

Media & Investor Relations Contact:
Deanne Randolph
PDS Biotech
Phone: +1 (908) 517-3613
Email: drandolph@pdsbiotech.com

Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838 
Email: rich@cg.capital


GlobeNewswire, Inc. 2021
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