Arcturus Therapeutics Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
January 21 2022 - 8:14PM
Business Wire
Arcturus Therapeutics Holdings Inc. (the “Company”, “Arcturus”,
Nasdaq: ARCT), a leading clinical-stage messenger RNA medicines
company focused on the development of infectious disease vaccines
and significant opportunities within liver and respiratory rare
diseases, today announced that the Compensation Committee of the
Company’s Board of Directors and the Company’s Board of Directors
approved inducement grants of stock options to purchase an
aggregate of 5,800 shares of Arcturus’s common stock to one
newly-hired employee. The equity awards were granted pursuant to
the Nasdaq Rule 5635(c)(4) inducement grant exception as a
component of each individual’s employment compensation and were
granted as an inducement material to his or her acceptance of
employment with the Company.
The options have an exercise price equal to $27.21 per share,
the closing price of the Company’s common stock as reported by
Nasdaq on January 18, 2022. The options have a ten-year term and
vest over four years, with 25% of the number of shares underlying
the stock option vesting on one-year anniversary of the applicable
vesting commencement date (based on the quarter in which the
applicable employee’s employment commenced) and the remaining
shares vesting monthly over 36 months thereafter. The equity awards
are subject to each individual’s continued service with the Company
through the applicable vesting dates.
About Arcturus Therapeutics
Founded in 2013 and based in San Diego, California, Arcturus
Therapeutics Holdings Inc. (Nasdaq: ARCT) is a clinical-stage mRNA
medicines and vaccines company with enabling technologies: (i)
LUNAR® lipid-mediated delivery, (ii) STARR™ mRNA Technology and
(iii) mRNA drug substance along with drug product manufacturing
expertise. Arcturus’ diverse pipeline of RNA therapeutic and
vaccine candidates includes mRNA vaccine programs for SARS-CoV-2
(COVID-19) and Influenza, and other programs to potentially treat
ornithine transcarbamylase (OTC) deficiency, and cystic fibrosis
along with partnered programs including glycogen storage disease
type III, hepatitis B virus, and non-alcoholic steatohepatitis
(NASH). Arcturus’ versatile RNA therapeutics platforms can be
applied toward multiple types of nucleic acid medicines including
messenger RNA, small interfering RNA, replicon RNA, antisense RNA,
microRNA, DNA, and gene editing therapeutics. Arcturus’
technologies are covered by its extensive patent portfolio (patents
and patent applications issued in the U.S., Europe, Japan, China
and other countries). Arcturus’ commitment to the development of
novel RNA therapeutics has led to collaborations with Janssen
Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies
of Johnson & Johnson, Ultragenyx Pharmaceutical, Inc., Takeda
Pharmaceutical Company Limited, CureVac AG, Duke-NUS Medical
School, and the Cystic Fibrosis Foundation. For more information
visit www.ArcturusRx.com. In addition, please connect with us on
Twitter and LinkedIn.
Forward Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties for purposes of the
safe harbor provided by the Private Securities Litigation Reform
Act of 1995. Any statements, other than statements of historical
fact included in this press release, are forward-looking
statements, including those regarding strategy, future operations,
collaborations, the likelihood of success (including safety and
efficacy) of the Company’s pipeline, the likelihood that a patent
will issue from any patent application and the impact of general
business and economic conditions. Arcturus may not actually achieve
the plans, carry out the intentions or meet the expectations or
projections disclosed in any forward-looking statements such as the
foregoing and you should not place undue reliance on such
forward-looking statements. Such statements are based on
management’s current expectations and involve risks and
uncertainties, including those discussed under the heading "Risk
Factors" in Arcturus’ most recent Annual Report on Form 10-K, and
in subsequent filings with, or submissions to, the SEC, which are
available on the SEC’s website at www.sec.gov. Except as otherwise
required by law, Arcturus disclaims any intention or obligation to
update or revise any forward-looking statements, which speak only
as of the date they were made, whether as a result of new
information, future events or circumstances or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220121005510/en/
Arcturus Therapeutics Deepankar Roy, Ph.D. (858) 900-2682
IR@ArcturusRx.com
Kendall Investor Relations Carlo Tanzi, Ph.D. (617) 914-0008
ctanzi@kendallir.com
Arcturus Therapeutics (NASDAQ:ARCT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Arcturus Therapeutics (NASDAQ:ARCT)
Historical Stock Chart
From Sep 2023 to Sep 2024