UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 29, 2015
ARQULE, INC.
(Exact Name of Issuer as Specified in Charter)
| Delaware | 000-21429 | 04-3221586 | ||
| (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer | ||
| of incorporation) | Identification No.) |
| One Wall Street | ||
| Burlington, MA | ||
| (Address of principal executive offices) |
| 01803 | ||
| (Zip code) |
| (781) 994-0300 | ||
| (Registrant’s telephone number, including area code) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Section 5 – Corporate Governance and Management
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 29, 2015, the Board of Directors of the Registrant appointed Robert J. Weiskopf as the Registrant’s Chief Financial Officer effective June 1, 2015. Mr. Weiskopf previously served as the Company’s Vice President of Finance, Corporate Controller, Principal Accounting Officer and Treasurer since 2007. In addition to his new title, he will continue to serve as the Principal Accounting Officer and Treasurer.
Prior to joining the Registrant in 2007, Mr. Weiskopf was Chief Financial Officer of Aware Inc. from 2004 until 2006. Prior to that, Mr. Weiskopf was Director of Finance at Lightbridge, Inc. from 2000 to 2004. Mr. Weiskopf is a Certified Public Accountant and holds a B.S.B.A. magna cum laude and M.S.B.A. in accounting from the University of Massachusetts at Amherst.
In connection with his appointment as Chief Financial Officer, the Compensation Committee granted Mr. Weiskopf an option to purchase 30,000 shares of the Registrant’s common stock. The option will vest in equal installments on each of the first four anniversaries of the date of grant. In addition, the Compensation Committee and Board of Directors approved a base salary of $305,000 and a bonus opportunity amount equal to thirty-five percent of Mr. Weiskopf’s base salary.
There are no family relationships, as defined in Item 401 of Regulation S-K, between Mr. Weiskopf and any of the Registrant’s executive officers or directors or any person nominated or chosen by the Registrant to become a director or executive officer. Mr. Weiskopf was not selected pursuant to any arrangement or understanding between him and any other person. In addition, Mr. Weiskopf does not have a direct or indirect material interest in any transaction that would be required to be disclosed under Item 404(a) of Regulation S-K.
On June 1, 2015, the Registrant issued a press release announcing Mr. Weiskopf’s appointment as Chief Financial Officer. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release issued by ArQule, Inc. on June 1, 2015.
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ARQULE, INC. | ||
| (Registrant) | ||
| /s/ Peter S. Lawrence | ||
| Peter S. Lawrence | ||
| President and Chief Operating Officer | ||
June 1, 2015
| 3 |
Exhibit 99.1
| Contact: | |
| Robert J. Weiskopf | |
| Chief Financial Officer and Treasurer | |
| ArQule, Inc. | |
| (781) 994-0300 | |
| www.ArQule.com |
ArQule Appoints Robert J. Weiskopf as Chief Financial Officer
Burlington, MA--(BUSINESS WIRE) -- June 1, 2015--ArQule, Inc. (Nasdaq: ARQL) today announced that Robert J. Weiskopf has been appointed chief financial officer. Mr. Weiskopf was previously vice president of finance, corporate controller and treasurer of ArQule. He will retain the title of treasurer and continue to report to Paolo Pucci, chief executive officer of the company.
"I am very pleased to announce Rob Weiskopf’s new position at ArQule," said Mr. Pucci. “Rob has served with distinction in the position of vice president of finance, corporate controller and treasurer, and this promotion reflects both the board’s confidence in Rob and his increasing responsibilities within ArQule. ArQule will continue to benefit from Rob’s extensive financial experience in positions of leadership in the biotechnology and technology industries for over 30 years.”
Prior to joining the Company in 2007, Mr. Weiskopf was chief financial officer of Aware Inc. from 2004 until 2006. Prior to that, Mr. Weiskopf was director of finance at Lightbridge, Inc. from 2000 to 2004. Mr. Weiskopf is a certified public accountant and holds a B.S.B.A. magna cum laude and M.S.B.A. in accounting from the University of Massachusetts at Amherst.
About ArQule
ArQule is a biotechnology company engaged in the research and development of next-generation, small-molecule cancer therapeutics. The Company’s targeted, broad-spectrum products and research programs are focused on key biological processes that are central to human cancers. ArQule’s lead product, in Phase 2 and Phase 3 clinical development, is tivantinib (ARQ 197), an oral, selective inhibitor of the c-MET receptor tyrosine kinase. The Company’s pipeline includes: ARQ 092, designed to inhibit the AKT serine/threonine kinase; ARQ 087, a multi-kinase inhibitor designed to preferentially inhibit the fibroblast growth factor receptor (FGFR) family; and ARQ 761, a Beta lapachone analog being evaluated as a promoter of NQ01-mediated programmed cancer cell necrosis. ArQule’s current discovery efforts are focused on the identification of novel kinase inhibitors, leveraging the Company’s proprietary library of compounds.