GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) granted 54,675 restricted stock units to eight new employees on December 1, 2020, under its Amended and Restated 2017 Inducement Equity Plan. This action complies with NASDAQ Listing Rule 5635(c)(4), offering inducements for new hires. GBT, founded in 2011, focuses on treatments for sickle cell disease (SCD) and has developed Oxbryta, the first FDA-approved therapy that inhibits sickle hemoglobin polymerization. The company is also advancing its pipeline with other promising candidates to further combat SCD.

Positive

• Granting of 54,675 shares to new employees shows commitment to attracting talent.
• GBT continues to develop innovative SCD treatments, enhancing its market position.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Dec. 15, 2020 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on December 1, 2020, the compensation committee of GBT’s board of directors granted eight new employees restricted stock units for an aggregate of 54,675 shares of the company’s common stock. These awards were made under GBT’s Amended and Restated 2017 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 GBT’s board of directors in January 2017 and has been amended and restated from time to time.

About Global Blood Therapeutics
Global Blood Therapeutics (GBT) is a biopharmaceutical company dedicated to the discovery, development, and delivery of life-changing treatments that provide hope to underserved patient communities. Founded in 2011, GBT is delivering on its goal to transform the treatment and care of sickle cell disease (SCD), a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta^® (voxelotor), the first FDA-approved treatment that directly inhibits sickle hemoglobin polymerization, the root cause of red blood cell sickling in SCD. GBT is also advancing its pipeline program in SCD with inclacumab, a P-selectin inhibitor in development to address pain crises associated with the disease, and GBT021601, the company’s next generation hemoglobin S polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next wave of treatments for SCD. To learn more, please visit www.gbt.com and follow the company on Twitter @GBT_news.

Contact Information:
Steven Immergut (media)
650-410-3258
simmergut@gbt.com

Courtney Roberts (investors)
650-351-7881
croberts@gbt.com

FAQ

What date did Global Blood Therapeutics grant restricted stock units?

GBT granted restricted stock units on December 1, 2020.

How many shares were granted to new employees by GBT?

GBT granted an aggregate of 54,675 shares.

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

The stock units were granted as an inducement for new employees to join the company.

What is GBT's focus in the biopharmaceutical industry?

GBT focuses on treatments for sickle cell disease (SCD).

What is the name of the first FDA-approved treatment developed by GBT?

The first FDA-approved treatment developed by GBT is Oxbryta (voxelotor).