Fulcrum Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Fulcrum Therapeutics (Nasdaq: FULC) announced the grant of non-statutory stock options to new employees under its 2022 Inducement Stock Incentive Plan.
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Rhea-AI Summary
Fulcrum Therapeutics (Nasdaq: FULC) announced the grant of non-statutory stock options to new employees under its 2022 Inducement Stock Incentive Plan. A total of 29,200 options were awarded to two employees at an exercise price of $10.20 per share, reflecting the closing price on January 9, 2023. The options vest over four years, with 25% vesting after one year and the remaining 75% in quarterly installments over the next three years, contingent on continued employment. Fulcrum focuses on treating genetically defined rare diseases, with clinical programs targeting facioscapulohumeral muscular dystrophy and sickle cell disease.
Positive
- Granting stock options may incentivize new talent to join the company.
- The exercise price of $10.20 aligns with the company's recent stock closing price, indicating a fair market value.
Negative
- None.
Details
News Market Reaction – FULC
The recorded move for FULC in the trading session of this news was +2.12%.
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CAMBRIDGE, Mass., Jan. 13, 2023 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.® (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases, today announced that the Company granted non-statutory stock options to new employees.
Fulcrum granted stock options to purchase shares of the Company’s common stock, pursuant to the Company’s 2022 Inducement Stock Incentive Plan, each as an inducement material to the new employees entering into employment with the Fulcrum Therapeutics in accordance with Nasdaq Listing Rule 5635(c)(4).
An award of an aggregate 29,200 shares was made to two employees at an exercise price of
About Fulcrum Therapeutics
Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases in areas of high unmet medical need. Fulcrum’s two lead programs in clinical development are losmapimod, a small molecule for the treatment of facioscapulohumeral muscular dystrophy (FSHD) and FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease and other hemoglobinopathies, including beta-thalassemia. The company’s proprietary product engine, FulcrumSeek™, identifies drug targets that can modulate gene expression to treat the known root cause of gene mis-expression.
Contact:
Dee Smith
Executive Director, Corporate Communications
Fulcrum Therapeutics, Inc.
(202) 746-1324
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