Arcutis Biotherapeutics Announces Equity Inducement Grants Under NASDAQ Stock Market Rules

Based in Westlake Village, California, Arcutis Biotherapeutics, Inc. ARQT, a company specialized in the development and commercialization of innovative treatments for dermatology diseases, has made a significant announcement on December 1, 2023. Compliant with NASDAQ's Listing Rule 5635(c)(4), the early commercial-stage biopharmaceutical firm reported the issue of restricted stock units totaling an aggregate of 90,500. This strategic move is a part of the company's inducement grants, which are notably awarded to new employees as part of their employment compensation.

About Arcutis Biotherapeutics

ARQT operates in the realm of immuno-dermatology, seeking to bring forward novel treatments that offer tangible benefits for patients grappling with skin diseases. The company's commitment to research and development in the dermatological sector is at the core of its operations. With a strategic focus on tackling unmet medical needs, ARQT aims to harness the power of innovative science to improve the lives of those affected by dermatological conditions.

NASDAQ's Rule 5635(c)(4)

It is under NASDAQ's inducement exception that ARQT has facilitated the recent restricted stock unit grants. This rule allows companies listed on the NASDAQ stock market to issue equity grants to draw in new employees with competitive compensation packages. This approach is particularly beneficial for attracting high-caliber talent which is crucial for organizations, like ARQT, that are intensively involved in research and scientific advancements.

Arcutis, Biotherapeutics, NASDAQ