GBT Announces New Employment Inducement Grants

Rhea-AI Summary

Global Blood Therapeutics (GBT) has granted options to seven new employees to purchase a total of 11,678 shares at $60.45 each, along with restricted stock units for 46,585 shares. These awards comply with NASDAQ Listing Rule 5635(c)(4) and are part of GBT's Amended and Restated 2017 Inducement Equity Plan. GBT is focused on developing treatments for sickle cell disease and has FDA-approved Oxbryta as its flagship product. The plan aims to attract talent to enhance GBT's product pipeline and overall impact in the biopharmaceutical sector.

Positive

• Options granted to new hires to attract talent.
• Inducement awards reflect GBT's commitment to growing its workforce and pipeline.

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• None.

SOUTH SAN FRANCISCO, Calif., Sept. 04, 2020 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ: GBT) today announced that on September 1, 2020, the compensation committee of GBT’s board of directors granted seven new employees options to purchase an aggregate of 11,678 shares of the company’s common stock with a per share exercise price of $60.45 and restricted stock units for an aggregate of 46,585 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. 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 Information:
Steven Immergut (media)
650-410-3258
simmergut@gbt.com

Stephanie Yao (investors)
650-741-7730
syao@gbt.com

FAQ

What stock options did Global Blood Therapeutics grant on September 1, 2020?

On September 1, 2020, GBT granted options to purchase 11,678 shares at an exercise price of $60.45 and restricted stock units for 46,585 shares.

What is the purpose of the options granted by GBT?

The options were granted as an inducement for new employees to join the company under NASDAQ Listing Rule 5635(c)(4).

What equity plan is GBT using for its stock grants?

GBT is using the Amended and Restated 2017 Inducement Equity Plan for its stock awards.

What is GBT's focus in the biopharmaceutical industry?

GBT is dedicated to transforming the treatment of sickle cell disease, with a focus on developing innovative therapies.