Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
June 20 2019 - 4:05PM
Business Wire
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that
the Company granted non-statutory stock options to new employees as
inducement awards outside the Company’s 2017 Equity Incentive Plan
in accordance with NASDAQ Listing Rule 5635(c)(4).
The Company granted stock options to purchase up to an aggregate
of 31,500 shares of Kala Pharmaceuticals common stock to two new
employees. The stock options were granted on June 14, 2019. The
grant was approved by the Compensation Committee and was made as an
inducement material to each employee entering into employment with
Kala Pharmaceuticals in accordance with NASDAQ Listing Rule
5635(c)(4). The option awards have an exercise price of $5.11 per
share, the closing price of Kala Pharmaceuticals’ common stock on
June 14, 2019. The options have a ten-year term and vest over four
years, with 25% of the original number of shares vesting on the
first anniversary of the applicable employee’s new hire date and
the remainder vesting in equal monthly installments over the
following three years. Vesting of each option is subject to such
employee’s continued service with Kala Pharmaceuticals through the
applicable vesting dates.
About Kala Pharmaceuticals, Inc.
Kala is a biopharmaceutical company focused on the development
and commercialization of therapeutics using its proprietary
AMPPLIFY™ mucus-penetrating particle (MPP) Drug Delivery
Technology, with an initial focus on the treatment of eye diseases.
Kala has applied the AMPPLIFY Drug Delivery Technology to a
corticosteroid, loteprednol etabonate (LE), designed for ocular
applications, resulting in recently approved INVELTYS® for the
treatment of inflammation and pain following ocular surgery and its
lead product candidate, KPI-121 0.25%, for the temporary relief of
the signs and symptoms of dry eye disease, for which a target
action date under the Prescription Drug User Fee Act (PDUFA) has
been set by the United States Food and Drug
Administration (FDA) for August 15, 2019.
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version on businesswire.com: https://www.businesswire.com/news/home/20190620005011/en/
For Kala Pharmaceuticals, Inc.InvestorsMichael Schaffzin,
212-362-1200michael@sternir.comorMediaKari Watson,
781-235-3060kwatson@macbiocom.com
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