Blueprint Medicines Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
11/03/2020 - 04:01 PM
CAMBRIDGE, Mass. , Nov. 3, 2020 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, today announced that, effective on November 1, 2020 , the Compensation Committee of Blueprint Medicines' Board of Directors granted non-qualified stock options to purchase an aggregate of 16,513 shares of its common stock and an aggregate of 8,255 restricted stock units (RSUs) to five new employees under Blueprint Medicines' 2020 Inducement Plan.
The 2020 Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of Blueprint Medicines, as an inducement material to such individual's entering into employment with Blueprint Medicines, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules.
The options have an exercise price of $102.28 per share, which is equal to the closing price of Blueprint Medicines' common stock on October 31, 2020 . Each option will vest as to 25% of the shares underlying such option on the first anniversary of the grant date and as to an additional 1/48th of the shares underlying the option monthly thereafter, in each case, subject to each such employee's continued employment on each vesting date. Each RSU will vest as to 25% of the shares underlying the RSU award on the first anniversary of the grant date and as to an additional 25% of the shares underlying the RSU award annually thereafter, subject to each such employee's continued employment on each vesting date. The options and RSUs are subject to the terms and conditions of Blueprint Medicines' 2020 Inducement Plan, and the terms and conditions of the stock option and RSU agreement covering the grant.
About Blueprint Medicines
Blueprint Medicines is a precision therapy company striving to improve human health. With a focus on genomically defined cancers, rare diseases and cancer immunotherapy, we are developing transformational medicines rooted in our leading expertise in protein kinases, which are proven drivers of disease. Our uniquely targeted, scalable approach empowers the rapid design and development of new treatments and increases the likelihood of clinical success. We have two approved precision therapies and are currently advancing multiple investigational medicines in clinical and pre-clinical development, along with a number of earlier-stage research programs. For more information, visit www.BlueprintMedicines.com and follow us on Twitter (@BlueprintMeds) and LinkedIn .
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SOURCE Blueprint Medicines Corporation
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Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Tags
Health Technology, Biotechnology, Manufacturing, Pharmaceutical Preparation Manufacturing
Country
US
City
Cambridge
About BPMC
blueprint medicines is developing a new generation of highly selective and potent kinase therapies to dramatically improve the lives of patients with genomically defined diseases. our approach is rooted in a deep understanding of the genetic blueprint of cancer and other diseases driven by the abnormal activation of kinases. our ability to identify novel drivers of disease, coupled with our proprietary library of novel and diverse chemical compounds, uniquely enables us to craft kinase therapies against new and difficult-to-drug targets. we are boldly advancing a deep pipeline of highly targeted therapies against previously unaddressed drivers of disease. by focusing on genomically defined subsets of patients, we believe we can identify the people most likely to respond to our therapies, resulting in a more efficient clinical development path with a greater likelihood of success and better outcomes for patients. we see a substantial opportunity in kinase drug discovery and development
