SEATTLE, April 10,
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 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 10, 2023, in
accordance with Nasdaq Listing Rule 5635(c)(4).
The employees received options to purchase an aggregate of
36,000 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.
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.