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Fulcrum Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Fulcrum Therapeutics grants non-statutory stock options to new employees
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CAMBRIDGE, Mass., Sept. 15, 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, 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 the new employees an aggregate of 4,850 options to purchase shares of the company’s common stock at an exercise price of $5.33 per share, the closing price per share of Fulcrum’s common stock as reported on the grant effective date, September 11, 2023. 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 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 pociredir, formerly known as FTX-6058, a small molecule designed to increase expression of fetal hemoglobin for the treatment of sickle cell disease (SCD) and other hemoglobinopathies. Fulcrum’s proprietary product engine, FulcrumSeek™, identifies 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 @FulcrumTx and LinkedIn.
what if we could regulate genes, not just discover them? what if we could treat disease at their genetic source? what if we could integrate multiple disciplines to develop breakthrough medicines? what if you could be a part of a passionate team committed to the patients we serve? we can. we will. we are. join us. we are here to develop new medicines to deliver a new future for patients and their families by transforming gene regulation in disease. a fulcrum is defined as the point on which a lever rests, balances and pivots. fulcrum therapeutics is intervening in gene regulatory mechanisms to unlock the information contained in the human genome. the fulcrum product engine is dedicated to bringing balance to the genetic on and off switches in disease. our approach the sequencing of the human genome has provided incredible insight into disease biology, yet the richness of biology comes from the dynamic on and off switches that control the genome – gene regulation. the fulcrum product eng