SOUTH SAN FRANCISCO, Calif.,
Oct. 10, 2016 /PRNewswire/
-- Rigel Pharmaceuticals (Nasdaq: RIGL) today announced that
it has granted awards pursuant to the Rigel Pharmaceuticals, Inc.
Inducement Plan, approved by the Compensation Committee of Rigel's
Board of Directors and granted as an inducement material to each
employee's employment with Rigel, in accordance with NASDAQ Listing
Rule 5635(c)(4). Specifically, Rigel granted 300,000 stock
options to Eldon C. Mayer III,
Rigel's newly appointed EVP, Chief Commercial Officer, 150,000
stock options to Joseph Lasaga,
Rigel's newly appointed VP of Business Development and Alliance
Management, and 40,000 stock options to one other new employee,
each vesting over four years, with a one-year cliff.
Additionally, Mr. Mayer and Mr. Lasaga were granted 100,000 stock
options and 50,000 stock options, respectively, to vest over time
upon achievement of certain performance conditions. Each
option to purchase has an exercise price equal to the closing price
of Rigel's common stock on October 7,
2016, the last trading day prior to the date of grant.
Rigel is providing this information in accordance with NASDAQ
Listing Rule 5635(c)(4).
About Rigel (www.rigel.com)
Rigel Pharmaceuticals, Inc. is a clinical-stage
biotechnology company dedicated to the discovery and development of
novel, targeted drugs in the therapeutic areas of immunology,
oncology and immuno-oncology. Rigel's pioneering research focuses
on signaling pathways that are critical to disease mechanisms. The
company's current clinical programs include fostamatinib, an oral
spleen tyrosine kinase (SYK) inhibitor, which is in Phase 3
clinical trials for immune thrombocytopenia (ITP). Rigel
reported data from the first of two Phase 3 trials in August 2016; the second Phase 3 trial results are
expected in late October or early November
2016. The investigation of fostamatinib also includes a
Phase 2 clinical trial for autoimmune hemolytic anemia (AIHA) and a
Phase 2 clinical trial for IgA nephropathy (IgAN). In
addition, Rigel has two oncology product candidates in Phase 1
development with partners BerGenBio AS and Daiichi
Sankyo.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
Media Contact: Susan C. Rogers,
Rivily, Inc.
Phone: 650.430.3777
Email: susan@rivily.com
Logo - http://photos.prnewswire.com/prnh/20030226/RIGLLOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/rigel-pharmaceuticals-inc-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-300342304.html
SOURCE Rigel Pharmaceuticals, Inc.