SOUTH SAN FRANCISCO, Calif.,
Nov. 17, 2017 /PRNewswire/
-- Rigel Pharmaceuticals (Nasdaq: RIGL) today announced that
on November 7, 2017 and November 13, 2017 the Compensation Committee of
Rigel's Board of Directors approved the grant of inducement stock
options to purchase an aggregate of 278,500 shares of common stock
to twelve new employees. These awards were granted pursuant to the
Rigel Pharmaceuticals, Inc. Inducement Plan, as amended, as an
inducement material to the new employees entering into employment
with Rigel, in accordance with NASDAQ Listing Rule 5635(c)(4).
Rigel granted stock options to purchase shares of Rigel's common
stock to (i) eleven of the employees with an exercise price of
$3.79 per share, the closing price of
Rigel's common stock on November 6,
2017, the first trading date prior to November 7, 2017, the effective date of such
grants and (ii) one employee with an exercise price of $3.85 per share, the closing price of Rigel's
common stock on November 10, 2017,
the first trading date prior to November 13,
2017, the effective date of such grant. The stock options
vest as follows: certain of the shares of common stock subject to
the awards vest immediately upon achievement of one or more
performance conditions, and certain of the shares of common stock
subject to the awards vest over a four year period, with one-fourth
of the shares subject to such awards vesting on the first
anniversary of the award's vesting commencement date, and the
remaining shares vesting in equal monthly installments
thereafter.
Rigel is providing this information in accordance with NASDAQ
Listing Rule 5635(c)(4).
About Rigel (www.rigel.com)
Rigel Pharmaceuticals, Inc. is a biotechnology company dedicated
to discovering, developing and providing novel small molecule drugs
that significantly improve the lives of patients with immune and
hematological disorders, cancer and rare diseases. Rigel's
pioneering research focuses on signaling pathways that are critical
to disease mechanisms. The company's current clinical programs
include clinical trials of fostamatinib, an oral spleen tyrosine
kinase (SYK) inhibitor, in a number of indications. Rigel has
submitted, and the FDA has accepted for review, an NDA for
fostamatinib in patients with chronic or persistent immune
thrombocytopenia (ITP). In addition, Rigel has product candidates
in development with partners BerGenBio AS, Daiichi Sankyo and
Aclaris Therapeutics.
Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com
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SOURCE Rigel Pharmaceuticals, Inc.