Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
02 Agosto 2024 - 3:00PM
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a
commercial-stage biopharmaceutical company focused on developing
meaningful innovations in immuno-dermatology, today reported the
grant of an aggregate of 38,000 restricted stock units of Arcutis’
common stock to four newly hired employees. These awards were
approved by the Compensation Committee of Arcutis’ Board of
Directors and granted under the Arcutis Biotherapeutics, Inc. 2022
Inducement Plan, with a grant date of August 1, 2024, as an
inducement material to the new employees entering into employment
with Arcutis, in accordance with Nasdaq Listing Rule 5635(c)(4).
The restricted stock units vest over four years,
with 25 percent vesting on each annual anniversary of the vesting
commencement date, subject to the employee being continuously
employed by Arcutis as of such vesting dates.
Arcutis is providing this information in accordance
with Nasdaq Listing Rule 5635(c)(4).
About ArcutisArcutis
Biotherapeutics, Inc. (Nasdaq: ARQT) is a commercial-stage medical
dermatology company that champions meaningful innovation to address
the urgent needs of individuals living with immune-mediated
dermatological diseases and conditions. With a commitment to
solving the most persistent patient challenges in dermatology,
Arcutis has a growing portfolio including three FDA approved
products that harness our unique dermatology development platform
coupled with our dermatology expertise to build differentiated
therapies against biologically validated targets. Arcutis’
dermatology development platform includes a robust pipeline with
multiple clinical programs for a range of inflammatory
dermatological conditions including scalp and body psoriasis,
atopic dermatitis, and alopecia areata. For more information,
visit www.arcutis.com or follow Arcutis on LinkedIn,
Facebook, Instagram, and X.
Forward-Looking StatementsArcutis
cautions you that statements contained in this press release
regarding matters that are not historical facts are forward-looking
statements. These statements are based on the Company’s current
beliefs and expectations. These statements involve substantial
known and unknown risks, uncertainties and other factors that may
cause our actual results, levels of activity, performance, or
achievements to be materially different from the information
expressed or implied by these forward-looking statements and you
should not place undue reliance on our forward-looking statements.
Risks and uncertainties that may cause our actual results to differ
include risks inherent in the clinical development process and
regulatory approval process, the timing of regulatory filings, the
timing and expenses of commercialization efforts, and our ability
to defend our intellectual property. For a further description of
the risks and uncertainties applicable to our business, see the
“Risk Factors” section of our Form 10-K filed with U.S. Securities
and Exchange Commission (SEC) on February 27, 2024, as well as any
subsequent filings with the SEC. You should not place undue
reliance on any forward-looking statements in this press release.
We undertake no obligation to revise or update information herein
to reflect events or circumstances in the future, even if new
information becomes available. All forward-looking statements are
qualified in their entirety by this cautionary statement, which is
made under the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995.
Contacts:MediaAmanda Sheldon,
Head of Corporate Communicationsmedia@arcutis.com
InvestorsLatha Vairavan, Vice
President, Finance and Investor Relationsir@arcutis.com
Arcutis Biotherapeutics (NASDAQ:ARQT)
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