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

Rhea-AI Summary

Fulcrum Therapeutics, Inc. (Nasdaq: FULC) announced the granting of non-statutory stock options to a new employee as an inducement to join the company. The options, totaling 58,760 shares, were granted at an exercise price of $3.59 per share, with a ten-year term and vesting over four years.

Positive

• The grant of stock options reflects Fulcrum's commitment to attracting and retaining top talent, enhancing employee motivation and alignment with company goals.

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• None.

CAMBRIDGE, Mass., Nov. 10, 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 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 58,760 options to purchase shares of the company’s common stock at an exercise price of $3.59 per share, the closing price per share of Fulcrum’s common stock as reported on the grant effective date, November 6, 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 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 (formerly known as FTX-6058), a small molecule designed to increase expression of fetal hemoglobin and in development for the treatment of sickle cell disease (SCD) and other hemoglobinopathies. 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 @FulcrumTx and LinkedIn.

Contact:

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

FAQ

What did Fulcrum Therapeutics announce?

Fulcrum announced the granting of non-statutory stock options to a new employee as an inducement to join the company.

How many options were granted to the new employee?

Fulcrum granted the new employee 58,760 options to purchase shares of the company’s common stock.

What is the exercise price of the granted shares?

The exercise price of the granted shares is $3.59 per share.

How long is the term of each option?

Each option has a ten-year term.

How does the vesting of the options work?

The options vest over four years, with 25% of the original number of shares vesting on the first anniversary of the 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.