SEATTLE, May 4, 2023
/PRNewswire/ -- CTI BioPharma Corp. (Nasdaq: CTIC), a commercial
biopharmaceutical company focused on the development and
commercialization of novel targeted therapies for blood-related
cancers, today announced that an authorized subcommittee of the
Compensation Committee of its Board of Directors granted an equity
award to a new employee as an equity inducement award 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 employee's acceptance of employment with
the company. The equity award was approved on May 3, 2023, in accordance with Nasdaq Listing
Rule 5635(c)(4).
The employee received options to purchase 18,000 shares of CTI
BioPharma common stock. The options will be issued upon the
employee's grant date (the "Grant Date"), and all stock options
included within the equity inducement award will have an exercise
price equal to the closing price of CTI BioPharma common stock on
the 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.
CTI BioPharma is a commercial biopharmaceutical company focused
on the 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, ACVR1, 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. For more
information, please visit www.ctibiopharma.com.
VONJO® is a registered trademark of CTI BioPharma Corp.
Investor Relations and Media Contacts:
Remy Bernarda
Jenny Kobin
invest@ctibiopharma.com
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SOURCE CTI BioPharma Corp.