Senti Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Senti Biosciences (Nasdaq: SNTI) has announced new employment inducement grants approved by its Compensation Committee on November 26, 2024. The committee granted stock options to three new employees to purchase a total of 49,778 shares of company common stock at an exercise price of $2.11 per share. These grants were made under the company's 2022 Inducement Equity Plan, which was adopted on August 5, 2022, and are in accordance with NASDAQ Listing Rule 5635(c)(4) as inducement material for new employees joining the company.

SOUTH SAN FRANCISCO, Calif., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Senti Biosciences, Inc. (Nasdaq: SNTI) (“Senti Bio”), a clinical-stage biotechnology company developing next-generation cell and gene therapies using its proprietary Gene Circuit platform, today announced that on November 26, 2024, the Compensation Committee of Senti Bio’s Board of Directors granted to three new employees stock options to purchase an aggregate of 49,778 shares of the Company’s common stock with a per share exercise price of $2.11. These awards were made under the Company’s 2022 Inducement Equity Plan (the “Plan”).

The above-described awards were each granted as an inducement material to the employees entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan. The Plan was adopted by the Company’s board of directors on August 5, 2022.

About Senti Bio
Senti Bio is a clinical-stage biotechnology company developing a new generation of cell and gene therapies for patients living with incurable diseases. To achieve this, Senti Bio is leveraging a synthetic biology platform called Gene Circuits to create therapies with enhanced precision and control. These Gene Circuits are designed to precisely kill cancer cells, spare healthy cells, increase specificity to target cells and control the expression of drugs even after administration. The Company’s wholly-owned pipeline includes off-the-shelf CAR-NK cells, outfitted with Gene Circuits, to target challenging liquid and solid tumor indications. Senti Bio has also preclinically demonstrated that its Gene Circuits can function in T cells. Additionally, Senti Bio has preclinically demonstrated the potential breadth of Gene Circuits in other cell and gene therapy modalities, diseases outside of oncology, and continues to advance these capabilities through partnerships with Roche/Spark Therapeutics and Bayer/Bluerock Therapeutics.

Availability of Other Information About Senti Bio
For more information, please visit the Senti Bio website at https://www.sentibio.com or follow Senti Bio on X (formerly Twitter) (@SentiBio) and LinkedIn (Senti Biosciences). Investors and others should note that we communicate with our investors and the public using our company website (www.sentibio.com), including, but not limited to, company disclosures, investor presentations and FAQs, Securities and Exchange Commission filings, press releases, public conference call transcripts and webcast transcripts, as well as on X and LinkedIn. The information that we post on our website or on X or LinkedIn could be deemed to be material information. As a result, we encourage investors, the media and others interested to review the information that we post there on a regular basis. The contents of our website or social media shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

FAQ

How many shares were granted in Senti Biosciences (SNTI) November 2024 employee stock options?

Senti Biosciences granted stock options to purchase 49,778 shares of common stock to three new employees.

What was the exercise price for Senti Biosciences (SNTI) November 2024 employee stock options?

The stock options were granted with an exercise price of $2.11 per share.

When did Senti Biosciences (SNTI) adopt its 2022 Inducement Equity Plan?

Senti Biosciences adopted its 2022 Inducement Equity Plan on August 5, 2022.