SOUTH SAN FRANCISCO, Calif., July 26, 2017 (GLOBE NEWSWIRE) -- Global Blood Therapeutics, Inc. (GBT) (NASDAQ:GBT) today announced that on July 24, 2017, the compensation committee of the Company’s board of directors granted one new employee an option to purchase 30,000 shares of the Company’s common stock with a per share exercise price of $30.25, the closing trading price on the grant date, and a restricted stock unit award for 25,000 shares of the Company’s common stock, in each case under the Company’s 2017 Inducement Equity Plan (the “Plan”).
The above-described awards were each granted as an inducement material to the employee’s entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4), and were granted pursuant to the terms of the Plan. The Company has reserved an aggregate of 300,000 shares of its common stock (including the shares underlying the stock option and restricted stock unit award described above) for issuance under the Plan, which was approved by the Company’s Board of Directors in January 2017.
About Global Blood Therapeutics
Global Blood Therapeutics, Inc. is a clinical-stage biopharmaceutical company dedicated to discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders with significant unmet need. GBT is developing its lead product candidate, GBT440, as an oral, once-daily therapy for sickle cell disease. GBT is also investigating GBT440 for the treatment of hypoxemic pulmonary disorders in two ongoing Phase 2a studies in patients with idiopathic pulmonary fibrosis. To learn more, please visit www.globalbloodtx.com and follow the company on Twitter: @GBT_news.