Arcutis Biotherapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
04 Agosto 2023 - 5:00PM
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), an early
commercial-stage biopharmaceutical company focused on developing
meaningful innovations in immuno-dermatology, today reported the
grant of an aggregate of 38,500 restricted stock units of Arcutis’
common stock to five 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, 2023, 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 an early 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 that harnesses 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, seborrheic dermatitis, and alopecia
areata. For more information, visit www.arcutis.com or
follow Arcutis on LinkedIn, Facebook, and Twitter.
Forward-Looking StatementsThis press release
contains “forward-looking” statements, including, among others,
statements regarding its potential to address urgent needs and
expectations with regard to the timing of data and regulatory
events. 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 28, 2023, 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 Communicationsasheldon@arcutis.com
InvestorsEric McIntyre, Head of Investor
Relationsemcintyre@arcutis.com
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