SAN DIEGO, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Bionano Genomics, Inc. (Nasdaq: BNGO) today announced that on September 18, 2023, the Compensation Committee of the Company's Board of Directors (the "Compensation Committee") granted an inducement award consisting of a non-qualified stock option to purchase 106,000 shares of common stock to Gülsen Kama, the Company's new Chief Financial Officer, under the Company's 2020 Inducement Plan, as amended. The Compensation Committee approved the award as an inducement material to the new employee's employment in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option has an exercise price per share equal to $3.00 per share, the Company's closing trading price on September 18, 2023, and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of the grant date and the balance of the underlying shares vesting monthly thereafter over 36 months, subject to Ms. Kama's continued service relationship with the Company through the applicable vesting dates. The award is subject to the terms and conditions of the Company's 2020 Inducement Plan, as amended, and the terms and conditions of the applicable award agreement covering the grant.
Bionano is a provider of genome analysis solutions that can enable researchers and clinicians to reveal answers to challenging questions in biology and medicine. The Company's mission is to transform the way the world sees the genome through OGM solutions, diagnostic services and software. The Company offers OGM solutions for applications across basic, translational and clinical research. Through its Lineagen, Inc. d/b/a Bionano Laboratories business, the Company also provides diagnostic testing for patients with clinical presentations consistent with autism spectrum disorder and other neurodevelopmental disabilities. The Company also offers an industry-leading, platform-agnostic software solution, which integrates next-generation sequencing and microarray data designed to provide analysis, visualization, interpretation and reporting of copy number variants, single-nucleotide variants and absence of heterozygosity across the genome in one consolidated view. The Company additionally offers nucleic acid extraction and purification solutions using proprietary isotachophoresistechnology. For more information, visit www.bionano.com, www.bionanolaboratories.com or www.purigenbio.com.
Unless specifically noted otherwise, Bionano's OGM products are for research use only and not for use in diagnostic procedures.
Erik Holmlin, CEO
Bionano Genomics, Inc.
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