Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
September 18 2020 - 4:05PM
Business Wire
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that
the Company granted non-statutory stock options to a new employee
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 7,000 shares
of Kala Pharmaceuticals common stock to a new employee. The stock
options were granted on September 15, 2020. The grant was approved
by the Compensation Committee and 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 $8.05 per share, the closing price of Kala
Pharmaceuticals’ common stock on September 15, 2020. 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 the option award 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 discovery,
development and commercialization of innovative therapies for
diseases of the eye. Kala has applied its AMPPLIFY® mucus
penetrating particle Drug Delivery Technology to a corticosteroid,
loteprednol etabonate (LE), designed for ocular applications,
resulting in the January 2019 launch of INVELTYS® (loteprednol
etabonate ophthalmic suspension) 1% and its investigational product
candidate, EYSUVISTM (loteprednol etabonate ophthalmic suspension)
0.25%, for which a New Drug Application (NDA) is under review by
the United States Food and Drug Administration (FDA) with a target
action date under the Prescription Drug User Fee Act (PDUFA) set
for October 30, 2020.
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Investors Hannah Deresiewicz, 212-362-1200
Hannah.Deresiewicz@sternir.com
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