BridgeBio Pharma Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

BridgeBio Pharma (Nasdaq: BBIO) announced on September 1, 2020, the granting of options to purchase 18,231 shares and restricted stock units for 19,915 shares under its 2019 Inducement Equity Plan. The compensation committee made these grants to 10 new employees as an inducement for their employment, adhering to Nasdaq Listing Rule 5635(c)(4). These awards are part of BridgeBio's effort to attract talent as it advances its pipeline of over 20 programs targeting genetic diseases and cancers with genetic drivers.

Positive

• Granted options and stock units to attract new talent.
• Pipeline includes over 20 development programs targeting genetic diseases.

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• None.

PALO ALTO, Calif., Sept. 03, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on September 1, 2020, the compensation committee of BridgeBio’s board of directors granted 10 new employees options to purchase an aggregate of 18,231 shares of the Company’s common stock with a per share exercise price of $27.62 and restricted stock units for an aggregate of 19,915 shares of the Company’s common stock. All of the above-described awards were made under BridgeBio’s 2019 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 BridgeBio’s board of directors in November 2019.

About BridgeBio
BridgeBio is a team of experienced drug discoverers, developers and innovators working to create life-altering medicines that target well-characterized genetic diseases at their source. BridgeBio was founded in 2015 to identify and advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. BridgeBio’s pipeline of over 20 development programs includes product candidates ranging from early discovery to late-stage development.

Media Contact:
Grace Rauh
Grace.rauh@bridgebio.com
(917) 232-5478

Investor Contact:
John Grimaldi, Burns McClellan
jgrimaldi@burnsmc.com
212-213-0006 ext. 362

Source: BridgeBio Pharma, Inc.

FAQ

What options were granted by BridgeBio Pharma on September 1, 2020?

BridgeBio Pharma granted options to purchase 18,231 shares and restricted stock units for 19,915 shares under its 2019 Inducement Equity Plan.

What is the exercise price for the shares granted by BridgeBio?

The per share exercise price for the options granted by BridgeBio is $27.62.

Why did BridgeBio grant these stock options and units?

The stock options and units were granted as an inducement for new employees to join the company, in accordance with Nasdaq Listing Rule 5635(c)(4).

How many employees received stock options from BridgeBio?

The options were granted to 10 new employees of BridgeBio Pharma.

What is the significance of BridgeBio's 2019 Inducement Equity Plan?

The plan aims to attract talent by providing stock options and restricted stock units as part of employee compensation.