GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the grant of 33,050 restricted stock units to 12 new employees on August 1, 2021. This issuance was made under the Amended and Restated 2017 Inducement Equity Plan as an inducement for joining the company, in compliance with NASDAQ Listing Rule 5635(c)(4). GBT is focused on innovative treatments for sickle cell disease, including Oxbryta®, the first FDA-approved treatment targeting sickle hemoglobin polymerization, along with ongoing development of other promising therapies.

Positive

• Grant of 33,050 restricted stock units signals confidence in new talent acquisition.
• Oxbryta® is the first FDA-approved treatment for sickle cell disease, enhancing company's market position.
• Advancing pipeline programs, including inclacumab in Phase 3 development and GBT021601.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Aug. 12, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on August 1, 2021, the compensation committee of GBT’s board of directors granted 12 new employees restricted stock units for an aggregate of 33,050 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 did Global Blood Therapeutics announce on August 1, 2021?

Global Blood Therapeutics announced the grant of 33,050 restricted stock units to 12 new employees.

How many shares were granted to the new employees by GBT?

GBT granted a total of 33,050 shares in restricted stock units to the new employees.

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

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

What is Oxbryta® and its significance for GBT?

Oxbryta® is the first FDA-approved treatment for sickle cell disease, marking a significant achievement for GBT.

What is the status of GBT's pipeline programs?

GBT is advancing pipeline programs, including inclacumab in Phase 3 development and GBT021601.