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

Rhea-AI Summary

BridgeBio Pharma (Nasdaq: BBIO) announced on February 1, 2021, that its compensation committee granted 16,772 restricted stock units to 11 new employees. These awards were made under the 2019 Inducement Equity Plan, adhering to Nasdaq Listing Rule 5635(c)(4). BridgeBio, founded in 2015, focuses on developing transformative medicines for genetic diseases, with over 20 programs in its pipeline targeting Mendelian diseases and genetically driven cancers.

PALO ALTO, Calif., Feb. 05, 2021 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on February 1, 2021, the compensation committee of BridgeBio’s board of directors granted 11 new employees restricted stock units for an aggregate of 16,772 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

Source: BridgeBio Pharma, Inc.

FAQ

What did BridgeBio announce on February 1, 2021 regarding employee compensation?

On February 1, 2021, BridgeBio announced that it granted 16,772 restricted stock units to 11 new employees as part of its compensation plan.

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

The restricted stock units were granted as an inducement for new employees to join the company under Nasdaq Listing Rule 5635(c)(4).

What does BridgeBio focus on in its pharmaceutical development?

BridgeBio focuses on creating life-altering medicines for genetic diseases and cancers with clear genetic drivers.

How many development programs does BridgeBio have in its pipeline?

BridgeBio has over 20 development programs targeting Mendelian diseases and genetically driven cancers.