Arcturus Therapeutics Announces Incentive Grant Under Nasdaq Listing Rule 5635(c)(4)
SAN DIEGO–(BUSINESS WIRE)–Arcturus Therapeutics Holdings Inc. (the “Company”, “Arcturus”, Nasdaq: ARCT), a leading clinical-stage messenger RNA drug company focused on the development of vaccines against diseases infectious diseases and significant opportunities in the area of rare liver and respiratory diseases, today announced that the Company’s Board of Directors Compensation Committee and the Company’s Board of Directors have approved incentive awards of stock options to purchase a total of 11,200 shares of Arcturus common stock from three newly hired employees. The equity awards were granted pursuant to the incentive award exception of Nasdaq Rule 5635(c)(4) as part of each individual’s employment compensation and were granted as as an incentive to accept employment with the Company.
The options have an exercise price equal to $24.85 per share, the closing price of the Company’s common stock as reported by Nasdaq on February 15, 2022. The options have a term of ten years and vest over four years, with 25% of the number of shares underlying the stock option vesting on the first anniversary of the applicable vesting start date (based on the quarter in which employment of the relevant employee has commenced) and the remaining shares vest monthly for 36 months thereafter. Stock awards are subject to each individual’s continuous 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 drug and vaccine company with enabling technologies: (i) LUNAR® lipid-mediated delivery, (ii) STARR™ mRNA technology and (iii) mRNA drug substance and drug manufacturing expertise. Arcturus’ diverse pipeline of RNA-based therapeutic and vaccine candidates includes mRNA-based vaccine programs for SARS-CoV-2 (COVID-19) and influenza, and other programs to treat potentially ornithine transcarbamylase (OTC) deficiency and cystic fibrosis, as well as partnered programs including glycogen storage disease type III, hepatitis B virus and non-alcoholic steatohepatitis (NASH). Arcturus’ versatile RNA therapeutic platforms can be applied to multiple types of nucleic acid drugs, including messenger RNA, small interfering RNA, replicon RNA, antisense RNA, microRNA, DNA and gene editing therapies. Arcturus technologies are covered by its extensive patent portfolio (patents and patent applications granted in the United States, Europe, Japan, China and other countries). Arcturus’ commitment to the development of novel RNA-based therapies 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. Also, please contact us at Twitter and LinkedIn.
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. All statements, other than statements of historical facts included in this release releases, are forward-looking. statements, including those regarding strategy, future operations, collaborations, likelihood of success (including safety and efficacy) of the Company’s pipeline, likelihood of patent issuance from any application for patent and the impact of general business and economic conditions. Arcturus may not actually achieve the plans, achieve the intentions or meet the expectations or projections disclosed in forward-looking statements such as the foregoing and you should not place undue reliance on such forward-looking statements. These statements are based on management’s current expectations and involve risks and uncertainties, including those discussed under “Risk Factors” in Arcturus’s most recent Annual Report on Form 10-K, and in filings. or subsequently filed with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Arcturus disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date on which they were made, whether as a result of new information, future events or circumstances or otherwise.