SEATTLE, April 21, 2021 /PRNewswire/
-- CTI BioPharma Corp. (NASDAQ: CTIC) today
announced that 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 April 21, 2021, in
accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received options to purchase an aggregate of
80,000 shares of CTI BioPharma common stock. The options will be
issued upon each employee's commencement of employment (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 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 Meyers
+212-600-1902
cti@argotpartners.com
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SOURCE CTI BioPharma Corp.