SEATTLE, Sept. 21,
2022 /PRNewswire/ -- CTI BioPharma Corp. (NASDAQ:
CTIC) today announced the grant of 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 September 20, 2022 and September 21, 2022, respectively, in accordance
with Nasdaq Listing Rule 5635(c)(4).
The employees received options to purchase an aggregate of
140,000 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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cti-biopharma-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-301630407.html
SOURCE CTI BioPharma Corp.