DermTech Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
02 Junho 2023 - 5:05PM
Business Wire
DermTech, Inc. (NASDAQ: DMTK) (“DermTech” or the “Company”), a
leader in precision dermatology enabled by a non-invasive skin
genomics platform, today announced the grant to eight new employees
of restricted stock units representing the contingent right to
receive up to an aggregate of 28,500 shares of the Company’s common
stock under its 2022 Inducement Equity Incentive Plan, as amended,
or the 2022 Inducement Plan. The restricted stock units were
approved by DermTech’s Compensation Committee, effective May 31,
2023, and were granted as inducements material to the employee’s
acceptance of employment with DermTech in accordance with Nasdaq
Listing Rule 5635(c)(4).
The 28,500 restricted stock units shall vest over 4 years as
follows: (i) twenty-five percent of the restricted stock units will
vest on June 5, 2024 and (ii) the remaining seventy-five percent of
the restricted stock units will vest in equal quarterly
installments until fully vested on June 5, 2027, subject to the
employee’s continued employment with the Company on these vesting
dates. The restricted stock units are also subject to the terms and
conditions of the 2022 Inducement Plan, and the terms and
conditions of the equity award agreements covering the grants.
About DermTech
DermTech is a leading genomics company in dermatology and is
creating a new category of medicine, precision dermatology, enabled
by its non-invasive skin genomics platform. DermTech’s mission is
to improve the lives of millions by providing non-invasive
precision dermatology solutions that enable individualized care.
DermTech provides genomic analysis of skin samples collected
non-invasively using our Smart Stickers™. DermTech markets and
develops products that facilitate the early detection of skin
cancers and is developing products that assess inflammatory
diseases and customize drug treatments. For additional information,
please visit DermTech.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. The expectations,
estimates, and projections of DermTech may differ from its actual
results and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as “expect,” “estimate,” “project,” “budget,” “forecast,”
"outlook," “anticipate,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believe,” “predict,” “potential,” “continue,” and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, expectations and evaluations with respect to: the
performance, patient benefits, cost- effectiveness,
commercialization and adoption of DermTech’s products and the
market opportunity for these products, DermTech’s positioning and
potential growth, financial outlook and future financial
performance, ability to monetize existing demand by increasing its
proportion of reimbursed billable samples, ability to maintain or
improve its operating efficiency and reduce operating expenses, the
sufficiency of DermTech’s cash resources and runway and ability to
access capital to fund its operating plan, implications and
interpretations of any study results, expectations regarding
agreements with or reimbursement or cash collection patterns from
Medicare, government payers or commercial payers and related
billing practices or number of covered lives and DermTech’s ability
to expand its product offerings and develop pipeline products.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside of the control of DermTech and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (1) the outcome of any legal proceedings that may be
instituted against DermTech; (2) DermTech’s ability to obtain
additional funding to develop and market its products; (3) the
existence of favorable or unfavorable clinical guidelines for
DermTech’s tests; (4) the reimbursement of DermTech’s tests by
Medicare, government payers and commercial payers; (5) the ability
of patients or healthcare providers to obtain coverage of or
sufficient reimbursement for DermTech’s products; (6) DermTech’s
ability to grow, manage growth and retain its key employees and
maintain or improve its operating efficiency and reduce operating
expenses; (7) changes in applicable laws or regulations; (8) the
market adoption and demand for DermTech’s products and services
together with the possibility that DermTech may be adversely
affected by other economic, business, and/or competitive factors;
and (9) other risks and uncertainties included in the “Risk
Factors” section of the most recent Annual Report on Form 10-K
filed by DermTech with the Securities and Exchange Commission (the
“SEC”), and other documents filed or to be filed by DermTech with
the SEC, including subsequently filed reports. DermTech cautions
that the foregoing list of factors is not exclusive. You should not
place undue reliance upon any forward- looking statements, which
speak only as of the date made. DermTech does not undertake or
accept any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements to reflect
any change in its expectations or any change in events, conditions,
or circumstances on which any such statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20230602005356/en/
Steve Kunszabo DermTech (858) 291-1647
steve.kunszabo@dermtech.com
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