CTI BioPharma Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
10/14/2021 - 04:05 PM
SEATTLE , Oct. 14, 2021 /PRNewswire/ -- CTI BioPharma Corp. (NASDAQ: CTIC) today announced that an authorized subcommittee of the Compensation Committee of its Board of Directors granted an equity award to a new employee as an equity inducement award outside of the Company's Amended and Restated 2017 Equity Incentive Plan (but under the terms of the Amended and Restated 2017 Equity Incentive Plan) and material to the employee's acceptance of employment with the company. The equity award was approved on October 14, 2021 , in accordance with Nasdaq Listing Rule 5635(c)(4).
The employee received options to purchase 18,000 shares of CTI BioPharma common stock. The options will be issued upon the employee's grant date (the "Grant Date"), and all stock options included within the equity inducement award will have an exercise price equal to the closing price of CTI BioPharma common stock on the Grant Date. One-fourth of the options will vest on each anniversary of the employee's Grant Date, subject to the employee's continued employment with CTI BioPharma on such vesting dates. The options have a ten-year term.
About CTI BioPharma Corp.
We are a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies for blood-related cancers that offer a unique benefit to patients and their healthcare providers. We concentrate our efforts on treatments that target blood-related cancers where there is an unmet medical need. In particular, we are focused on evaluating pacritinib, our sole product candidate currently in active late-stage development, for the treatment of adult patients with myelofibrosis. In addition, we have recently started developing pacritinib for use in hospitalized patients with severe COVID-19, in response to the COVID-19 pandemic. We are headquartered in Seattle, Washington .
CTI BioPharma Investor Contacts: Maeve Conneighton /Maghan Meyerscti@argotpartners.com
https://www.prnewswire.com/news-releases/cti-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-301400626.html
SOURCE CTI BioPharma Corp.
CTIC Rankings
N/A Ranked by Stock Gains
CTIC Stock Data
Industry
Pharmaceutical Preparation Manufacturing
Sector
Manufacturing
Tags
Health Technology, Pharmaceuticals: Other, Manufacturing, Pharmaceutical Preparation Manufacturing
Country
US
City
Seattle
About CTIC
cti was founded on the belief that a coalition between unique scientific technology and its strong desire to “do right” by the patient could help us achieve our mission to acquire, develop and bring to market less toxic, more effective therapies to treat and cure cancer. we strive to do business better than other biopharmaceutical companies. better means a more collaborative, well-trained team environment willing to institute novel approaches to scientific discovery and business opportunities. a willingness to push the limits to achieve challenging goals is the essential attribute that sets cti employees apart.
