Fulcrum Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Fulcrum Therapeutics, Inc. granted non-statutory stock options to its new chief medical officer, Dr. Patrick Horn, to purchase 400,000 shares of common stock at an exercise price of $10.12 per share. The options have a ten-year term and vest over four years, aligning with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass., March 22, 2024 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.^® (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on developing small molecules to improve the lives of patients with genetically defined rare diseases, today announced that the company granted non-statutory stock options to Patrick Horn, M.D., Ph.D., the company’s newly appointed chief medical officer. Fulcrum granted stock options to purchase shares of the company’s common stock pursuant to the company’s 2022 Inducement Stock Incentive Plan, as amended, or the plan, as an inducement material to the new employees entering into employment with Fulcrum in accordance with Nasdaq Listing Rule 5635(c)(4).

Fulcrum granted Dr. Horn a non-statutory option to purchase 400,000 shares of the company’s common stock, with an exercise price of $10.12 per share, the closing price per share of the company’s common stock as reported by Nasdaq on the grants’ effective date, March 18, 2024. Dr. Horn’s stock option to purchase 400,000 shares of Fulcrum’s common stock has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of Dr. Horn’s start date and an additional 6.25% of the shares vesting in equal quarterly installments over the 12 successive quarters following the first anniversary, subject to Dr. Horn’s continued service with the company through the applicable vesting dates.

About Fulcrum Therapeutics

Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on developing small molecules to improve 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 in development for the treatment of facioscapulohumeral muscular dystrophy (FSHD), and pociredir, a small molecule designed to increase expression of fetal hemoglobin and in development for the treatment of sickle cell disease (SCD). Fulcrum uses proprietary technology to identify drug targets that can modulate gene expression to treat the known root cause of gene mis-expression. For more information, visit www.fulcrumtx.com and follow us on Twitter/X (@FulcrumTx) and LinkedIn.

Contact:
Chris Calabrese
LifeSci Advisors, LLC
ccalabrese@lifesciadvisors.com
917-680-5608

What type of company is Fulcrum Therapeutics, Inc.?

Fulcrum Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing small molecules for patients with genetically defined rare diseases.

Who was granted non-statutory stock options by Fulcrum Therapeutics, Inc.?

Dr. Patrick Horn, the company's newly appointed chief medical officer, was granted non-statutory stock options.

How many shares of common stock can Dr. Horn purchase through the stock options?

Dr. Horn can purchase 400,000 shares of Fulcrum Therapeutics, Inc.'s common stock.

What is the exercise price per share for the stock options granted to Dr. Horn?

The exercise price per share for the stock options granted to Dr. Horn is $10.12.

How long is the term of the stock options granted to Dr. Horn?

The stock options granted to Dr. Horn have a ten-year term.

How do the stock options granted to Dr. Horn vest?

The stock options granted to Dr. Horn vest over four years, with 25% of the shares vesting on the first anniversary of his start date and an additional 6.25% vesting in equal quarterly installments over the 12 successive quarters following the first anniversary.