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

Rhea-AI Summary

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced on January 4, 2021, the grant of 4,126 restricted stock units to six new employees under its 2019 Inducement Equity Plan, compliant with Nasdaq Listing Rule 5635(c)(4). This plan, adopted in November 2019, aims to provide compensation incentives to attract talent within the biopharmaceutical sector. Founded in 2015, BridgeBio focuses on developing transformative medicines targeting genetic diseases and cancers with genetic drivers, boasting a pipeline of over 20 development programs.

Positive

• Issuance of 4,126 restricted stock units can attract and retain talented employees.
• Pipeline includes over 20 development programs, indicating strong future potential.

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• None.

PALO ALTO, Calif., Jan. 06, 2021 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on January 4, 2021, the compensation committee of BridgeBio’s board of directors granted six new employees restricted stock units for an aggregate of 4,126 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 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 January 4, 2021?

BridgeBio Pharma announced the grant of 4,126 restricted stock units to six new employees under its 2019 Inducement Equity Plan.

How many restricted stock units were granted by BridgeBio Pharma?

A total of 4,126 restricted stock units were granted.

What is the purpose of the restricted stock units granted by BridgeBio?

The restricted stock units were granted as an inducement for employees entering into employment with the company.

Under which plan were the restricted stock units granted?

The restricted stock units were granted under BridgeBio's 2019 Inducement Equity Plan.

How does the grant of stock units benefit BridgeBio Pharma?

It helps attract and retain talent, which is critical for the company's growth and innovation in developing medicines.