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

Rhea-AI Summary

BridgeBio Pharma granted restricted stock units totaling 32,691 shares to 19 new employees, as part of its 2019 Inducement Equity Plan. The awards were announced on April 5, 2021, following Nasdaq Listing Rule 5635(c)(4), which requires such grants as inducements for employees entering the company. BridgeBio focuses on developing transformative medications for genetic diseases and cancers, with a pipeline of over 30 development programs from early science to advanced clinical trials.

Positive

• Granting of 32,691 shares as restricted stock units may enhance employee retention and incentivize new talent.
• BridgeBio's focus on genetic diseases aligns with growing market demand for targeted therapies.

Negative

• None.

PALO ALTO, Calif., April 06, 2021 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today announced that on April 5, 2021, the compensation committee of BridgeBio’s board of directors granted 19 new employees restricted stock units for an aggregate of 32,691 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 biopharmaceutical company founded to discover, create, test and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio’s pipeline of over 30 development programs ranges from early science to advanced clinical trials and its commercial organization is focused on delivering the Company’s first approved therapy. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit bridgebio.com.

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

Source: BridgeBio Pharma, Inc.

FAQ

What was the purpose of the restricted stock units granted by BridgeBio Pharma?

The restricted stock units were granted as an inducement for 19 new employees entering the company, under Nasdaq Listing Rule 5635(c)(4).

How many shares were granted by BridgeBio Pharma on April 5, 2021?

BridgeBio Pharma granted a total of 32,691 shares as restricted stock units.

What is the 2019 Inducement Equity Plan by BridgeBio Pharma?

The 2019 Inducement Equity Plan is a program under which BridgeBio grants equity awards to new employees as an incentive.

What is BridgeBio Pharma's focus in the biopharmaceutical sector?

BridgeBio Pharma focuses on developing treatments for genetic diseases and cancers that have clear genetic drivers.