Science 37 (NASDAQ:SNCE) stock is rising higher on Monday following news of inducement equity awards for its Metasite employees.
According to a press release from Science 37, the awards were approved by its board of directors in November 2022. They have also been approved by the Compensation Committee. This has them acting as a material inducement to the non-executive employees gaining employment at the company.
To go along with this, options to purchase an aggregate of 86,300 shares of SNCE stock were approved on March 10, 2023. The exercise price for these options is 24 cents per share. These have a 10-year term and a four-year vesting schedule. The stock was made available to 13 new employees.
How This Affects SNCE Stock on Monday
Following news of the inducement equity award, shares of SNCE stock have seen heavy trading volume. As of this writing, more than 1.4 million shares of the stock have changed hands. That’s well above its daily average trading volume of about 618,000 shares.
Science 37 is a company focused on providing support to clinical research. It does so by allowing universal trial access for patients through its Metasite. This allows for greater patient diversity and recruiting power.
SNCE stock is up 8.7% in pre-market trading on Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.