Science 37 Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
December 09 2022 - 5:36PM
Science 37 Holdings, Inc. (Nasdaq: SNCE), the industry-leading
Metasite™, today announced the granting of an inducement equity
award under the Science 37 Holdings, Inc. 2022 Employment
Inducement Incentive Award Plan (the “Plan”). The Plan was approved
by Science 37’s Board of Directors in November 2022. In accordance
with NASDAQ Listing Rule 5635(c)(4), the award was approved by
Science 37’s Compensation Committee and made as a material
inducement to the non-executive employee's entry into employment
with the Company.
In connection with the commencement of employment,
on December 9, 2022 options to purchase an aggregate
10,000 shares of Science 37 common stock at an exercise price
of $0.56 per share, which was the closing sales price of
Science 37's common stock on the Nasdaq Stock Market LLC on the
date of grant, were granted to a new employee.
The options have a 10-year term and a four-year vesting
schedule, with 25% of the shares subject to the option vesting on
the first anniversary of the grant date and the remaining
underlying shares vesting in equal monthly installments until fully
vested on the fourth anniversary of the grant date, subject to the
employee's continued service with Science 37 through each
applicable vesting date.
About Science 37Science 37 Holdings, Inc.’s
(Nasdaq: SNCE) mission is to enable universal access to clinical
research—making it easier for patients and providers to participate
from anywhere and helping to accelerate the development of
treatments that impact patient lives. As a pioneer of decentralized
clinical trials, the Science 37 l Operating System (OS) supports
today’s more agile clinical research designs with its full stack,
end-to-end technology platform and centralized networks of patient
communities, telemedicine investigators, mobile nurses, remote
coordinators, provider communities, and data and devices.
Configurable to enable almost any study type, the Science 37 OS
enables up to 21x faster enrollment, 28% better retention and 3x
more diverse patient population with industry-leading workflow
orchestration, evidence generation and data harmonization. For more
information, visit https://www.science37.com.
Cautionary Note Regarding Forward-Looking
StatementsThis press release contains certain
forward-looking statements within the meaning of the federal
securities laws, including statements regarding the products
offered by Science 37, its sales pipeline and the markets in which
it operates. These forward-looking statements generally are
identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the ability to maintain
the listing of Science 37’s securities on Nasdaq, (ii) volatility
in the price of Science 37’s securities due to a variety of
factors, including changes in the competitive and highly regulated
industries in which Science 37 operates, variations in performance
across competitors, changes in laws and regulations affecting
Science 37’s business and changes in its capital structure, (iii)
the ability to implement business plans, forecasts, and other
expectations, and to identify and realize additional opportunities,
(iv) the risk that Science 37 may never achieve or sustain
profitability, (v) the risk that Science 37 will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all, (vi) failure to realize
anticipated cost savings, and (vii) the potential adverse effects
of the ongoing global COVID-19 pandemic. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of our Annual Report on Form 10-K for
the fiscal year ended December 31, 2021 filed with the U.S.
Securities and Exchange Commission (the “SEC”) on March 22, 2022
and in our other documents filed by Science 37 from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and Science 37 assumes no obligation
and does not intend to update or revise these forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as required by law. Science 37 does not give
any assurance that Science 37 will achieve its expectations.
MEDIA INQUIRIES:Grazia MohrenScience
37PR@science37.com
INVESTOR RELATIONS:Steve HalperLifeSci
AdvisorsInvestors@science37.com
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