The Company Also Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4) in Conjunction with the Appointment
RESEARCH TRIANGLE PARK, N.C., May 22, 2023 (GLOBE NEWSWIRE) -- G1 Therapeutics, Inc. (Nasdaq: GTHX), a commercial-stage oncology company, today announced the appointment of Monica Thomas as its General Counsel and Chief Compliance Officer. Mrs. Thomas replaces Stillman Hanson who departed the Company in May 2023.
“G1 is in the midst of an important period in our evolution, as we evolve our commercial and clinical capabilities to maximize the future value of COSELA® (trilaciclib) and ensure that all appropriate patients may have access to this important drug,” said Jack Bailey, Chief Executive Officer of G1 Therapeutics. “As we do so, it is essential that we maintain our fundamental focus on excellence in compliance, governance, and agency engagement. Monica’s deep sector experience across all such areas will be important to our continued success as an emerging biotechnology company.”
Mrs. Thomas brings nearly two decades of leadership experience in securities filings and corporate governance, global regulatory engagement, and all aspects of legal support for commercialization of drug products/biologics. Mrs. Thomas has joined G1 after serving as Head of Corporate Legal and Assistant Corporate Secretary at Radius Health where she advised senior executives and the Board of Directors, established a framework for successful commercialization in Japan, and oversaw the resolution of costly litigation. Previously, she was Associate General Counsel for UCB, Inc. where she supported the launch of a reimagined Rare Disease organization. Prior to that, she held numerous leadership roles over 12 years with GlaxoSmithKline, serving as legal lead on the launch of a first-in-industry TV advertisement for HIV medication, the commercialization of medications and biologics across multiple disease states, and the standardization of contracting policies and procedures for Global Manufacturing Supply. Mrs. Thomas also served as a Corporate Securities Associate with Smith Anderson, one of North Carolina’s largest business law firms. She is admitted to the North Carolina state bar and earned a Juris Doctorate degree from North Carolina Central University School of Law and a Bachelor of Arts degree from Duke University.
In connection with the appointment of Mrs. Thomas, the Company is reporting an inducement equity grant under Nasdaq Listing Rule 5635(c)(4). The compensation committee of G1’s Board of Directors has approved a grant of inducement stock options exercisable for 150,000 shares of G1’s common stock and 50,000 restricted stock units (RSUs) to Mrs. Thomas under the Amended and Restated G1 Therapeutics, Inc. 2021 Inducement Equity Incentive Plan (the “Amended and Restated 2021 Plan”). These equity awards were granted as an inducement material to the new employee becoming an employee of G1 in accordance with Nasdaq Listing Rule 5635(c)(4). The Amended and Restated 2021 Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of G1 (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with G1, pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The stock options are exercisable at a price of $2.88 per share, the closing price of G1’s common stock on May 22, 2023, the grant date. The stock options have up to a ten-year term and vest over four years, with 25% of the award vesting on the first anniversary of the employee’s employment, and as to an additional 1/48th of the shares monthly thereafter, subject to continued service through the applicable vesting dates (subject to the terms and conditions of the stock option agreement covering the grant). The RSUs have a four-year term, with 25% of the award vesting on the first anniversary of the grant date, and the remainder vesting 25% annually over the remaining three (3) years, subject to continued service through the applicable vesting dates (subject to the terms and conditions of the RSU agreement covering the grant). The stock options and RSUs are subject to the terms and conditions of the Amended and Restated 2021 Plan.
About G1 Therapeutics
G1 Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on the development and commercialization of next generation therapies that improve the lives of those affected by cancer, including the Company’s first commercial product, COSELA® (trilaciclib). G1 has a deep clinical pipeline and is executing a development plan evaluating trilaciclib in a variety of solid tumors, including breast, lung, and bladder cancers. G1 Therapeutics is based in Research Triangle Park, N.C. For additional information, please visit www.g1therapeutics.com and follow us on Twitter @G1Therapeutics.
G1 Therapeutics® and the G1 Therapeutics logo and COSELA® and the COSELA logo are trademarks of G1 Therapeutics, Inc.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, those relating to the future value of COSELA (trilaciclib) and the company’s ability to ensure broad access. Each of these forward-looking statements involves risks and uncertainties. Factors that may cause the company’s actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in the company’s filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" sections contained therein and include, but are not limited to, the company’s dependence on the commercial success of COSELA; the development and commercialization of new drug products is highly competitive; the company’s ability to complete clinical trials for, obtain approvals for and commercialize any of its product candidates; the company’s initial success in ongoing clinical trials may not be indicative of results obtained when these trials are completed or in later stage trials; the inherent uncertainties associated with developing new products or technologies and operating as a commercial-stage company; and market conditions. Except as required by law, the company assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
Vice President, Investor Relations & Corporate Communications
Source: G1 Therapeutics