GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) announced the grant of 80,270 restricted stock units to 24 new employees as of December 1, 2021. This action was part of GBT's Amended and Restated 2017 Inducement Equity Plan and complies with NASDAQ Listing Rule 5635(c)(4), intended to attract new talent. The company, focused on treating sickle cell disease, is advancing its pipeline with treatments like Oxbryta and candidates including inclacumab in Phase 3 development. Founded in 2011, GBT aims to deliver transformative therapies for underserved patient communities.

Positive

• Grant of 80,270 restricted stock units to attract talent.
• Advanced pipeline with Oxbryta and inclacumab for sickle cell disease.

Negative

• None.

SOUTH SAN FRANCISCO, Calif., Dec. 09, 2021 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on December 1, 2021, the compensation committee of GBT’s board of directors granted 24 new employees restricted stock units for an aggregate of 80,270 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 and tablets for oral suspension, 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 restricted stock units were granted by Global Blood Therapeutics on December 1, 2021?

GBT granted 80,270 restricted stock units to 24 new employees on December 1, 2021.

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

The restricted stock units aim to attract new employees under GBT's Amended and Restated 2017 Inducement Equity Plan.

What is the significance of NASDAQ Listing Rule 5635(c)(4) for GBT?

This rule allows GBT to grant stock awards as an inducement for employees to join the company.

What treatments is GBT developing for sickle cell disease?

GBT has introduced Oxbryta and is developing inclacumab, currently in Phase 3, among other therapies.