Bellicum Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Bellicum Pharmaceuticals (NASDAQ:BLCM) announced equity inducement grants for a new employee, comprising 16,820 stock options at an exercise price of $7.63 per share. Approved by the Compensation Committee, the grants are effective as of May 29, 2020, and will vest over four years, with 25% vesting after one year. The stock options are in accordance with Nasdaq Listing Rule 5635(c)(4) and the Company's 2019 Equity Incentive Plan. Bellicum focuses on developing controllable cellular immunotherapies for cancers, with its lead candidate BPX-601 designed for enhanced efficacy in CAR-T therapies.

Positive

• Granting of 16,820 stock options may attract talent and align employee interests with shareholder goals.
• The exercise price of $7.63 is above the current trading levels, indicating potential upside for the stock.

Negative

• None.

HOUSTON, May 29, 2020 (GLOBE NEWSWIRE) -- Bellicum Pharmaceuticals, Inc. (NASDAQ:BLCM), a leader in developing novel, controllable cellular immunotherapies for cancers, today announced equity inducement grants to one new employee consisting of an aggregate of 16,820 stock options. The Compensation Committee of the Board of Directors approved the grants with an effective date of May 29, 2020. The stock options were granted as inducements material to the employees entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

The stock options have an exercise price of $7.63 per share and vest over four years, with 25% of the shares vesting on the one-year anniversary of the applicable vesting commencement date and 1/48 of the shares vesting monthly thereafter, subject to the new employee's continued service relationship with the Company.  The stock options are subject to the terms and conditions of the Company's 2019 Equity Incentive Plan and a stock option agreement covering the grant.

About Bellicum Pharmaceuticals

Bellicum is a clinical stage biopharmaceutical company striving to deliver cures through controllable cell therapies. The company’s next-generation product candidates are differentiated by powerful cell signaling technologies designed to produce more effective CAR-T and CAR-NK cell therapies. Bellicum’s lead GoCAR-T^® candidate, BPX-601, is designed to be a more efficacious CAR-T cell product capable of overriding key immune inhibitory mechanisms. More information about Bellicum can be found at www.bellicum.com.​  

Source: Bellicum Pharmaceuticals

Investors:
Robert H. Uhl
Managing Director
Westwicke IR
858-356-5932
Robert.uhl@westwicke.com

FAQ

What are the details of Bellicum's recent stock options grant?

Bellicum granted 16,820 stock options to a new employee at an exercise price of $7.63, vesting over four years, effective May 29, 2020.

How do stock option grants impact Bellicum Pharmaceuticals?

Stock option grants can enhance employee retention and motivation, aligning their interests with company performance.

What is the significance of Nasdaq Listing Rule 5635(c)(4) for Bellicum?

This rule allows companies to grant stock options to new employees as an inducement for joining, which Bellicum utilized in this instance.

What is the focus of Bellicum Pharmaceuticals?

Bellicum specializes in developing controllable cellular immunotherapies, particularly for cancer treatment.

What is Bellicum's lead product candidate?

Bellicum’s lead candidate is BPX-601, designed to enhance the efficacy of CAR-T cell therapies.