SOUTH SAN FRANCISCO, Calif.,
Jan. 16, 2017 /PRNewswire/
-- Rigel Pharmaceuticals (Nasdaq: RIGL) today announced that
on January 3, 2017 and January 16, 2017 the Compensation Committee of
Rigel's Board of Directors approved the grant of inducement stock
options to purchase an aggregate of 214,000 shares of common stock
to four new employees. These awards were granted pursuant to the
Rigel Pharmaceuticals, Inc. Inducement Plan, as amended, as an
inducement material to the new employees entering into employment
with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4).
Rigel granted stock options to purchase shares of Rigel's common
stock to (i) three of the employees with an exercise price of
$2.38 per share, the closing price of
Rigel's common stock on December 30,
2016, the first trading date prior to January 3, 2017, the effective date of such
grants and (ii) one employee with an exercise price of $2.51 per share, the closing price of Rigel's
common stock on January 13, 2017, the
first trading date prior to January 16,
2017 the effective date of such grant. The stock options
vest as follows: certain of the shares of common stock subject to
the award vest in equal monthly installments over a two period
subject to the achievement of one or more performance conditions
and certain of the shares of common stock subject to the award vest
in equal monthly installments over a four year period, with
one-fourth of the shares subject to the award vesting on the first
anniversary of the vesting commencement date.
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 clinical trials of fostamatinib,
an oral spleen tyrosine kinase (SYK) inhibitor in a number of
indications. The company completed and reported results from two
Phase 3 clinical studies of fostamatinib in chronic immune
thrombocytopenia (ITP) in August and October
2016. Rigel is also conducting a Phase 2 clinical trial with
fostamatinib in 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
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SOURCE Rigel Pharmaceuticals, Inc.