SEATTLE, Aug. 22,
2022 /PRNewswire/ -- CTI BioPharma Corp. (NASDAQ:
CTIC) today announced that an authorized subcommittee of the
Compensation Committee of its Board of Directors granted equity
awards to two new employees as equity inducement awards 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 employees' acceptance of employment with
the company. The equity awards were approved on August 22, 2022, in accordance with Nasdaq
Listing Rule 5635(c)(4).
The employees received options to purchase an aggregate of
40,000 shares of CTI BioPharma common stock. The options will be
issued upon each employee's grant date (the "Grant Date"), and all
stock options included within the equity inducement awards will
have an exercise price equal to the closing price of CTI BioPharma
common stock on each respective 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 commercial 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. CTI has one FDA-approved
product, VONJO® (pacritinib), a JAK2 and IRAK1
inhibitor, that spares JAK1. VONJO is approved for the treatment of
adults with intermediate- or high-risk primary or secondary
(post-polycythemia vera or post-essential thrombocythemia)
myelofibrosis with a platelet count below 50 × 109/L.
This indication is approved under FDA accelerated approval based on
spleen volume reduction. Continued approval for this indication may
be contingent upon verification and description of clinical benefit
in a confirmatory trial(s). CTI is conducting the Phase 3 PACIFICA
study of VONJO in patients with myelofibrosis and severe
thrombocytopenia as a post-marketing requirement.
VONJO® is a registered trademark of CTI BioPharma
Corp.
CTI BioPharma Investor Contacts:
Argot
Partners
+212-600-1902
cti@argotpartners.com
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SOURCE CTI BioPharma Corp.