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Firefly Neuroscience Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) - Firefly Neuroscience (NASDAQ:AIFF)
TORONTO, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Firefly Neuroscience, Inc. ("Firefly," or the "Company") AIFF, an Artificial Intelligence ("AI") company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced that the Board of Directors of Firefly granted 557,885 restricted shares (the "Shares") as an inducement grant to David Johnson, the Company's Executive Chairman, pursuant to that certain Employment Agreement (the "Agreement"), by and between the Company and Mr. Johnson. The Shares were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of the Agreement and the Company's 2024 Long-Term Incentive Plan. The Shares will vest as follows: one-half of the Shares shall vest on each of the sixth and twelfth month anniversaries of the grant date. provided that Mr. Johnson has not incurred a termination of service prior to the applicable vesting date. About Firefly Firefly AIFF is an Artificial Intelligence ("AI") company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly's FDA-510(k) cleared Brain Network Analytics (BNAâ„¢) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance. The Company is now launching BNAâ„¢ commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use. Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly's extensive proprietary database of standardized, high-definition longitudinal electroencephalograms (EEGs) of over 17,000 patients representing twelve disorders, as well as clinically normal patients. BNAâ„¢, in conjunction with an FDA-cleared EEG system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician's ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and/or drug is best suited to optimize a patient's outcome. Please visit https://fireflyneuro.com/ for more information. Certain statements in this press release and the information incorporated herein by reference may constitute "forward-looking statements" for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly's management teams' expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to development and commercialization of BNAâ„¢ technology; risks related to Firefly's ability to recognize the anticipated benefits of the merger (the "Merger") with WaveDancer, Inc. ("WaveDancer"); risks related to Firefly's ability to correctly estimate its operating expenses and expenses associated with the Merger and other events and unanticipated spending and costs that could reduce Firefly's cash resources; the ability of Firefly to protect its intellectual property rights; competitive responses to the business combination; unexpected costs, charges or expenses resulting from the Merger; potential adverse reactions or changes to business relationships resulting from the completion of the Merger; legislative, regulatory, political and economic developments; and those factors described under the heading "Risk Factors" in the in the registration statement on Form S-4 filed by WaveDancer with the Securities and Exchange Commission on January 22, 2024, as amended, and declared effective on February 6, 2024. Should one or more of these risks or uncertainties materialize, or should any of Firefly's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Firefly Neuroscience Investor Contacts KCSA Strategic Communications Valter Pinto / Jack Perkins (212) 896-1254 Firefly@KCSA.com Firefly Neuroscience Media Contact KCSA Strategic Communications Raquel Cona, Vice President (516) 779-2630 Rcona@KCSA.com Market News and Data brought to you by Benzinga APIs
[2]
Firefly Neuroscience Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) By Investing.com
TORONTO, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Firefly Neuroscience, Inc. (Firefly, or the Company) (NASDAQ: AIFF), an Artificial Intelligence (AI) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders, today announced that the Board of Directors of Firefly granted 557,885 restricted shares (the Shares) as an inducement grant to David Johnson, the Company's Executive Chairman, pursuant to that certain Employment Agreement (the Agreement), by and between the Company and Mr. Johnson. The Shares were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of the Agreement and the Company's 2024 Long-Term Incentive Plan. The Shares will vest as follows: one-half of the Shares shall vest on each of the sixth and twelfth month anniversaries of the grant date. provided that Mr. Johnson has not incurred a termination of service prior to the applicable vesting date. About Firefly Firefly (NASDAQ: AIFF) is an Artificial Intelligence (AI) company developing innovative solutions that improve brain health outcomes for patients with neurological and mental disorders. Firefly's FDA-510(k) cleared Brain Network (LON:NETW) Analytics (BNAâ„¢) technology revolutionizes diagnostic and treatment monitoring methods for conditions such as depression, dementia, anxiety disorders, concussions, and ADHD. Over the past 15 years, Firefly has built a comprehensive database of brain wave tests, securing patent protection, and achieving FDA clearance. The Company is now launching BNAâ„¢ commercially, targeting pharmaceutical companies engaged in drug research and clinical trials, as well as medical practitioners for clinical use. Brain Network Analytics was developed using artificial intelligence and machine learning on Firefly's extensive proprietary database of standardized, high-definition longitudinal electroencephalograms (EEGs) of over 17,000 patients representing twelve disorders, as well as clinically normal patients. BNAâ„¢, in conjunction with an FDA-cleared EEG system, can provide clinicians with comprehensive insights into brain function. These insights can enhance a clinician's ability to accurately diagnose mental and cognitive disorders and to evaluate what therapy and/or drug is best suited to optimize a patient's outcome. Please visit https://fireflyneuro.com/ for more information. Forward-Looking Statements Certain statements in this press release and the information incorporated herein by reference may constitute forward-looking statements for purposes of the federal securities laws concerning Firefly. These forward-looking statements include express or implied statements relating to Firefly's management teams' expectations, hopes, beliefs, intentions, or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words anticipate, believe, contemplate, continue, could, estimate, expect, intends, may, might, plan, possible, potential, predict, project, should, will, would and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on current expectations and beliefs concerning future developments and their potential effects. There can be no assurance that future developments affecting Firefly will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond Firefly's control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks related to development and commercialization of BNAâ„¢ technology; risks related to Firefly's ability to recognize the anticipated benefits of the merger (the Merger) with WaveDancer, Inc. (WaveDancer); risks related to Firefly's ability to correctly estimate its operating expenses and expenses associated with the Merger and other events and unanticipated spending and costs that could reduce Firefly's cash resources; the ability of Firefly to protect its intellectual property rights; competitive responses to the business combination; unexpected costs, charges or expenses resulting from the Merger; potential adverse reactions or changes to business relationships resulting from the completion of the Merger; legislative, regulatory, political and economic developments; and those factors described under the heading Risk Factors in the in the registration statement on Form S-4 filed by WaveDancer with the Securities and Exchange Commission on January 22, 2024, as amended, and declared effective on February 6, 2024. Should one or more of these risks or uncertainties materialize, or should any of Firefly's assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. It is not possible to predict or identify all such risks. Forward-looking statements included in this press release only speak as of the date they are made, and Firefly does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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Firefly Neuroscience, an AI company focused on brain health, announces an inducement grant to its Executive Chairman and discusses its innovative Brain Network Analytics technology.
Firefly Neuroscience, Inc. (NASDAQ: AIFF), an Artificial Intelligence (AI) company specializing in brain health solutions, has announced a significant inducement grant to its Executive Chairman, David Johnson. The company's Board of Directors has granted 557,885 restricted shares to Mr. Johnson as part of his employment agreement 12.
The shares were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms of the employment agreement and Firefly's 2024 Long-Term Incentive Plan. The vesting schedule for these shares is as follows:
This vesting is contingent upon Mr. Johnson not incurring a termination of service prior to the applicable vesting dates 12.
Firefly Neuroscience is at the forefront of developing innovative AI solutions for improving brain health outcomes. The company's flagship technology, Brain Network Analytics (BNAâ„¢), has received FDA-510(k) clearance and is poised to revolutionize diagnostic and treatment monitoring methods for various neurological and mental disorders 1.
Firefly is now launching BNAâ„¢ commercially, targeting two primary markets:
Over the past 15 years, Firefly has made significant strides in the field of brain health:
The company's innovative approach combines AI-driven analysis with high-definition longitudinal electroencephalograms (EEGs) to enhance clinicians' ability to accurately diagnose mental and cognitive disorders and optimize treatment outcomes 12.
While Firefly Neuroscience expresses optimism about its future prospects, the company has also issued cautionary statements regarding forward-looking projections. These include potential risks related to:
As Firefly Neuroscience continues to advance its AI-driven brain health solutions, the company remains committed to improving outcomes for patients with neurological and mental disorders while navigating the complex landscape of medical technology development and commercialization.
Firefly Neuroscience, an AI company focused on brain health solutions, has closed a financing deal of up to $12.4 million to support the commercialization of its FDA-cleared Brain Network Analytics technology.
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Firefly Neuroscience's FDA-cleared BNAâ„¢ platform, utilizing AI and machine learning, demonstrates significant potential in providing objective measures for drug efficacy and cognitive changes in neuropharmacology and psychiatry.
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Firefly Neuroscience, an AI company focused on brain health, appoints Greg Lipschitz as Executive Chairman. The move aims to bolster the company's commercialization efforts for its FDA-cleared Brain Network Analytics technology.
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Firefly Neuroscience, an AI company specializing in brain health diagnostics, announces its participation in two major investor conferences in October 2024, highlighting its innovative Brain Network Analytics technology.
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Firefly Neuroscience announces a breakthrough in assessing cognitive brain age using its FDA-cleared BNAâ„¢ technology, potentially revolutionizing early detection and monitoring of neurological disorders like Alzheimer's.
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