Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
September 19 2019 - 4:05PM
Business Wire
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that
the Company granted a non-statutory stock option to one new
employee as an inducement award outside the Company’s 2017 Equity
Incentive Plan in accordance with NASDAQ Listing Rule
5635(c)(4).
The Company granted a stock option to purchase up to an
aggregate of 4,000 shares of Kala Pharmaceuticals common stock to
one new employee. The stock option was granted on September 16,
2019. The grant was approved by the Compensation Committee and was
made as an inducement material to the employee entering into
employment with Kala Pharmaceuticals in accordance with NASDAQ
Listing Rule 5635(c)(4). The option award has an exercise price of
$4.41 per share, the closing price of Kala Pharmaceuticals’ common
stock on September 16, 2019. The option has a ten-year term and
vests over four years, with 25% of the original number of shares
vesting on the first anniversary of the employee’s new hire date
and the remainder vesting in equal monthly installments over the
following three years. Vesting of the option is subject to the
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 the August 2018 FDA approval of
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190919005016/en/
Investors Hannah Deresiewicz, 212-362-1200
hannah.deresiewicz@sternir.com
Media Kari Watson, 781-235-3060 kwatson@macbiocom.com
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