SEATTLE, May 27, 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 three 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 May 27,
2022, in accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received options to purchase an aggregate of
94,000 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, 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. 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 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.