GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the issuance of restricted stock units on November 1, 2021, to eight new employees, totaling 16,350 shares under its Amended and Restated 2017 Inducement Equity Plan. This move, compliant with NASDAQ Listing Rule 5635(c)(4), aims to attract talent crucial for advancing GBT’s mission in sickle cell disease treatment. GBT is known for its FDA-approved Oxbryta (voxelotor) and is developing additional therapies to improve care for underserved patient communities.

Positive

• Attracting talent through stock options may enhance company performance.
• Continued commitment to sickle cell disease treatment reinforces GBT's market position.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Nov. 08, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on November 1, 2021, the compensation committee of GBT’s board of directors granted eight new employees restricted stock units for an aggregate of 16,350 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) tablets, 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 Phase 3 development to address pain crises associated with the disease, and GBT021601 (GBT601), 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 potential 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 recent stock award announcement by GBT about?

GBT announced the grant of restricted stock units totaling 16,350 shares to eight new employees on November 1, 2021.

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

The stock units are awarded as an inducement for new employees to join GBT, following NASDAQ regulations.

What is GBT's primary focus in the biopharmaceutical sector?

GBT focuses on developing treatments for sickle cell disease, including the FDA-approved drug Oxbryta.

When was the Amended and Restated 2017 Inducement Equity Plan adopted?

The Inducement Equity Plan was adopted by GBT's board of directors in January 2017.