Fulcrum Therapeutics, Inc.® (Nasdaq: FULC) is thrilled to announce that it has granted non-statutory stock options to new employees, underscoring its commitment to improving the lives of patients with rare, genetically defined diseases. With this move, Fulcrum further strengthens its dedication to developing innovative treatments to address these critical unmet needs.
Fulcrum welcomed its newest team members with an exciting opportunity to purchase shares of the Company’s common stock by granting stock options to them, under the 2022 Inducement Stock Incentive Plan, as an inducement for joining the company in accordance with Nasdaq Listing Rule 5635(c)(4).
Fulcrum recently granted options to two of its employees, giving them the right to purchase 44,700 shares of the Company’s common stock at the closing price per share of $2.72 as reported by Nasdaq on May 1, 2023. These options boast a ten-year term, and will vest over four years in quarterly installments, providing that the employees remain with the Company until the vesting dates. 25% of the original number of shares will vest on the first anniversary of the employee’s start date, with the remaining 6.25% vesting in equal quarterly installments for the following 12 quarters.
About Fulcrum Therapeutics
Fulcrum Therapeutics is a biopharmaceutical company that is working on transforming the lives of those with rare genetic diseases. Their two lead clinical programs, losmapimod and FTX-6058, are under development for the treatment of facioscapulohumeral muscular dystrophy and sickle cell disease, respectively.
Their proprietary engine, FulcrumSeek™, is designed to identify and target drug treatments that can modulate gene expression and treat the root causes of gene mis-expression. With their cutting-edge technology, Fulcrum Therapeutics is pioneering a new era in the fight against rare genetic diseases.