GERMANTOWN, Md., Oct. 3, 2019 /PRNewswire/ -- Neuralstem, Inc.
(Nasdaq: CUR), a biopharmaceutical company focused on the
development of nervous system therapies based on its neural stem
cell and small molecule technologies, announced the adjustment of
an options award that was previously approved in accordance with
Nasdaq Listing Rule 5635(c)(4).
On December 18, 2018, Neuralstem
announced the grant of a non-qualified inducement stock option
pursuant to Nasdaq Listing Rule 5635(c)(4) to Dr. Kenneth Carter as
an inducement for his employment by the company. The options
contain certain anti-dilution provisions which provide that
for a period of twelve (12) months (subject to Dr. Carter's
continued employment), if the Company enters into a transaction
whereby securities are sold for cash for the primary purpose of
raising capital, then the number of shares into which the option is
exercisable will adjust so that the number of common shares into
which the option is exercisable will equal the same percentage of
the issued and outstanding shares of common stock prior to such
transaction.
On July 31, 2019, Neuralstem
closed an underwritten offering of its securities resulting in the
issuance of 2,777,777 units. As a result of the offering, the
number of shares into which Dr. Carter's inducement grant is
exercisable into was increased from 40,000 to 156,213. All other
terms of the inducement grant, including exercise price, duration
and vesting conditions remain the same. Additionally, the
inducement grant's anti-dilution provisions will continue until
December 12, 2019.
About Neuralstem, Inc.
Neuralstem is a clinical-stage biopharmaceutical company
developing novel treatments for nervous system diseases of high
unmet medical need. The Company has two lead development
candidates:
NSI-566 is a stem cell therapy being tested for treatment of
paralysis in stroke, Amyotrophic Lateral Sclerosis (ALS) and
chronic spinal cord injury (cSCI)
NSI-189, is a small molecule in clinical development for major
depressive disorder and in preclinical development for Angelman
syndrome, irradiation-induced cognitive impairment, diabetic
neuropathy, and stroke
Neuralstem's diversified portfolio of product candidates is
based on its proprietary neural stem cell technology.
Forward-Looking Statements
This news release contains "forward-looking statements" made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
relate to future, not past, events and may often be identified by
words such as "expect," "anticipate," "intend," "plan," "believe,"
"seek" or "will." Forward-looking statements by their nature
address matters that are, to different degrees, uncertain. Specific
risks and uncertainties that could cause our actual results to
differ materially from those expressed in our forward-looking
statements include risks inherent in the development and
commercialization of potential products, uncertainty of clinical
trial results or regulatory approvals or clearances, need for
future capital, dependence upon collaborators and maintenance of
our intellectual property rights. Actual results may differ
materially from the results anticipated in these forward-looking
statements. Additional information on potential factors that could
affect our results and other risks and uncertainties are detailed
from time to time in Neuralstem's periodic reports, including the
Annual Report on Form 10-K for the year ended December 31, 2018 and its Quarterly Report on
Form 10-Q for the three and six months ended June 30, 2019, filed with the Securities and
Exchange Commission (SEC), and in other reports filed with the SEC.
We do not assume any obligation to update any forward-looking
statements.
Investor Contact:
Hibiscus Bioventures
josh@hibiscusbio.com
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SOURCE Neuralstem, Inc.