CTI BIOPHARMA CORP. (NASDAQ:CTIC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.>Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
President, Finance and Administration, Chief Governance Officer
and Secretary of CTI BioPharma Corp. (the Company) effective
immediately. Bruce J. Seeley, the Companys Executive Vice
President, Chief Commercial Officer, will serve as the principal
financial officer of the Company, effective immediately, and will
assume the title of Executive Vice President, Chief Commercial
and Administrative Officer and Secretary.
President and Chief Commercial Officer in July 2015. Mr. Seeley
previously served as Senior Vice President and General Manager,
Diagnostics at NanoString Technologies, Inc. from May 2012 to
March 2015. From October 2009 to March 2012, Mr. Seeley was
Executive Vice President, Commercial, at Seattle Genetics, Inc.
Prior to that, from August 2004 to October 2009, Mr. Seeley
served in various commercial roles at Genentech, Inc. (now a
member of the Roche Group). From 1996 to 2004, Mr. Seeley held
various roles at Aventis Pharmaceuticals Inc. (now a part of
Sanofi) in global and U.S. marketing, sales and new product
commercialization and licensing. Prior to that, from 1991 to
1996, he served in sales at Bristol-Myers Squibb Company. Mr.
Seeley received a B.A. in Sociology from the University of
California at Los Angeles.
require disclosure under Item 401(d) of Regulation S-K. There are
no current or proposed transactions in which he or any member of
his immediate family has, or will have, a direct or indirect
material interest that would require disclosure under Item 404(a)
of Regulation S-K.
Separation and Release Agreement with Mr. Bianco dated March 13,
2017 (the Separation Agreement). The following summary of the
Separation Agreement is qualified in its entirety by the
provisions of the Separation Agreement, which is filed herewith
as Exhibit 10.1 and incorporated herein by reference. The
Separation Agreement provides for Mr. Bianco to receive a cash
severance payment of $675,000, paid over 18 months, and payment
of his health and life insurance premiums for up to 18 months
following his resignation. Each of Mr. Biancos outstanding stock
options granted by the Company fully vested and will generally
remain exercisable until the earlier of the date that is 21
months following his resignation date or the expiration date of
the option, subject to earlier termination in connection with a
change in control of the Company. The Separation Agreement also
includes a general release of claims by Mr. Bianco in favor of
the Company.
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Exhibit No.
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Description
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10.1
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Separation and Release Agreement, dated March 13, 2017,
by and between the Company and Louis A. Bianco. |
About CTI BIOPHARMA CORP. (NASDAQ:CTIC)
CTI BioPharma Corp. (CTI) is a biopharmaceutical company focused on the acquisition, development and commercialization of targeted therapies covering a spectrum of blood-related cancers to patients and healthcare providers. The Company is primarily focused on commercializing PIXUVRI in select countries in the European Union, for multiply relapsed or refractory aggressive B-cell non-Hodgkin lymphoma (NHL). It is also engaged in evaluating pacritinib for the treatment of adult patients with myelofibrosis. Its earlier stage product candidate, tosedostat, is an oral, once-daily aminopeptidase inhibitor that has demonstrated responses in patients with acute myeloid leukemia (AML). It also evaluates its pipeline candidate paclitaxel poliglumex (Opaxio), which targets solid tumors. It is evaluating Opaxio through cooperative group sponsored trials and investigator-sponsored trials (ISTs), such as the ongoing maintenance therapy trial in patients with ovarian cancer. CTI BIOPHARMA CORP. (NASDAQ:CTIC) Recent Trading Information
CTI BIOPHARMA CORP. (NASDAQ:CTIC) closed its last trading session up +0.14 at 4.49 with 110,546 shares trading hands.
