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

Rhea-AI Summary

Fulcrum Therapeutics (FULC) has announced the granting of inducement stock options to a new employee under its 2022 Inducement Stock Incentive Plan. The company granted 63,000 options to purchase common stock at an exercise price of $3.81 per share, which was the closing price on February 3, 2025.

The options have a ten-year term and follow a four-year vesting schedule: 25% vests on the first employment anniversary, followed by 6.25% vesting quarterly over the next twelve quarters. The vesting is contingent upon continued employment with Fulcrum through the applicable dates. This grant was made in accordance with Nasdaq Listing Rule 5635(c)(4).

CAMBRIDGE, Mass., Feb. 07, 2025 (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 a new employee. 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 employee entering into employment with Fulcrum in accordance with Nasdaq Listing Rule 5635(c)(4).

Fulcrum granted the new employee 63,000 options to purchase shares of the company’s common stock at an exercise price of $3.81 per share, the closing price per share of Fulcrum’s common stock as reported on the grant effective date, February 3, 2025. Each option has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s start date and an additional 6.25% of the shares vesting in equal quarterly installments over the twelve successive quarters following the first anniversary, subject to the applicable employee’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 lead program in clinical development is 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

FAQ

What is the exercise price of FULC's new stock options granted on February 3, 2025?

The exercise price of the stock options is $3.81 per share, which was Fulcrum Therapeutics' closing stock price on February 3, 2025.

How many stock options did FULC grant to the new employee in February 2025?

Fulcrum Therapeutics granted 63,000 stock options to the new employee.

What is the vesting schedule for FULC's February 2025 inducement stock options?

The options vest over four years, with 25% vesting after one year and 6.25% vesting quarterly over the following twelve quarters.

How long is the term of FULC's February 2025 inducement stock options?

The stock options have a ten-year term.