GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the granting of restricted stock units to 14 new employees totaling 46,400 shares of common stock on May 1, 2022. These awards were made under the company’s Amended and Restated 2017 Inducement Equity Plan as an inducement for employment per NASDAQ Listing Rule 5635(c)(4). Founded in 2011, GBT focuses on treatments for sickle cell disease (SCD), presenting Oxbryta® as the first FDA-approved treatment to inhibit sickle hemoglobin polymerization. The company is advancing its pipeline, including a Phase 3 development program for inclacumab.

Positive

• Granting of 46,400 restricted stock units indicates growth in staffing.
• Focus on sickle cell disease with innovative treatments like Oxbryta® and inclacumab enhances long-term business prospects.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., May 05, 2022 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on May 1, 2022, the compensation committee of GBT’s board of directors granted 14 new employees restricted stock units for an aggregate of 46,400 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, starting with sickle cell disease (SCD). Founded in 2011, GBT is delivering on its goal to transform the treatment and care of SCD, a lifelong, devastating inherited blood disorder. The company has introduced Oxbryta® (voxelotor), the first FDA-approved medicine that directly inhibits sickle hemoglobin (HbS) 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 Phase 3 development to address pain crises associated with the disease, and GBT021601 (GBT601), the company’s next generation HbS polymerization inhibitor. In addition, GBT’s drug discovery teams are working on new targets to develop the next generation of treatments for SCD. To learn more, please visit www.gbt.com and follow the company on Twitter @GBT_news.

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

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

FAQ

What is the significance of the restricted stock units granted by GBT on May 1, 2022?

The restricted stock units totaling 46,400 shares were granted as an inducement for 14 new employees, showcasing GBT's commitment to attracting talent.

What does the Amended and Restated 2017 Inducement Equity Plan entail?

This plan allows GBT to grant stock options and restricted stock units as incentives to new employees, supporting recruitment and retention efforts.

How does GBT's Oxbryta® contribute to the treatment of sickle cell disease?

Oxbryta® is the first FDA-approved medication targeting sickle hemoglobin polymerization, directly addressing the root cause of sickle cell disease.

What is inclacumab and its current development stage?

Inclacumab is a P-selectin inhibitor in Phase 3 development aimed at reducing pain crises associated with sickle cell disease.