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

Rhea-AI Summary

BridgeBio Pharma (Nasdaq: BBIO) announced the grant of stock options and restricted stock units to 22 employees on August 3, 2020. The total awards comprise options for 30,443 shares and restricted units for 61,760 shares, with an exercise price of $27.20 per share. These grants are part of the 2019 Inducement Equity Plan, established to incentivize new employees under Nasdaq Listing Rule 5635(c)(4). Founded in 2015, BridgeBio focuses on developing transformative medicines for genetic diseases, holding a diverse pipeline of over 20 programs.

PALO ALTO, Calif., Aug. 12, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on August 3, 2020, the compensation committee of BridgeBio’s board of directors granted twenty-two employees options to purchase an aggregate of 30,443 shares of the Company’s common stock with a per share exercise price of $27.20 and restricted stock units for an aggregate of 61,760 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 did BridgeBio Pharma announce on August 3, 2020?

BridgeBio Pharma announced the granting of stock options and restricted stock units to 22 employees.

How many shares of stock were granted to employees by BridgeBio?

A total of 30,443 options and 61,760 restricted stock units were granted.

What was the exercise price for the stock options granted by BridgeBio?

The exercise price for the stock options was set at $27.20 per share.

Under which plan were the stock options and restricted units granted by BridgeBio?

The awards were granted under BridgeBio's 2019 Inducement Equity Plan.

What is the primary focus of BridgeBio Pharma?

BridgeBio Pharma focuses on developing medicines for genetic diseases.