ProPhase Labs Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Garden City, NY, April 01, 2024 (GLOBE NEWSWIRE) -- ProPhase Labs, Inc. (NASDAQ: PRPH) (“ProPhase” or the “Company”), a next-generation biopharma, genomics, and diagnostics company, today announced that it has granted an inducement stock option to purchase up to 50,000 shares of the Company’s common stock to Lance Bisesar, who recently joined the Company as Controller. This award was made in accordance with the employment inducement award exemption provided by Nasdaq Rule 5635(c)(4) and was therefore not awarded under the Company’s stockholder approved equity plan. The option award will vest as follows, contingent upon continued service: 25% will vest on each of the next four anniversaries of the grant date. The options will have a strike price of $6.20 per share and will be exercisable for a period of 7 years.

About ProPhase Labs

ProPhase Labs, Inc. (Nasdaq: PRPH) is a next-generation biotech, genomics and diagnostics company. Our goal is to create a healthier world with bold action and the power of insight. We’re revolutionizing healthcare with industry-leading Whole Genome Sequencing solutions, while developing potential game changer diagnostics and therapeutics in the fight against cancer. This includes a potentially life-saving cancer test focused on early detection of esophageal cancer and potential breakthrough cancer therapeutics with novel mechanisms of action. Our world-class CLIA labs and cutting-edge diagnostic technology provide wellness solutions for healthcare providers and consumers. We develop, manufacture, and commercialize health and wellness solutions to enable people to live their best lives. We are committed to executional excellence, smart diversification, and a synergistic, omni-channel approach. ProPhase Labs’ valuable subsidiaries, their synergies, and significant growth underscores our multi-billion dollar potential.

For more information, visit www.ProPhaseLabs.com.

ProPhase Media Relations and Institutional Investor Contact:
ProPhase Labs, Inc.
267-880-1111
[e-mail]

ProPhase Retail Investor Relations Contact:
Renmark Financial Communications
John Boidman
514-939-3989
[e-mail]

Source: ProPhase Labs, Inc.