Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
September 21 2021 - 4:01PM
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 112,000 shares of Kala Pharmaceuticals common stock to eleven
new employees. The stock options were granted on September 15,
2021. The grants were approved by the Compensation Committee and
were 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 $3.08 per share, the closing price of Kala Pharmaceuticals’
common stock on September 15, 2021. 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 commercial-stage 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 (MPP) Drug Delivery Technology
to two ocular therapies, EYSUVIS® (loteprednol etabonate ophthalmic
suspension) 0.25% for the short-term (up to two weeks) treatment of
signs and symptoms of dry eye disease and INVELTYS® (loteprednol
etabonate ophthalmic suspension) 1% for the treatment of
post-operative inflammation and pain following ocular surgery. The
Company also has a pipeline of pre-clinical development programs
targeted to address unmet medical needs, including both front and
back of the eye diseases. For more information on Kala, please
visit www.kalarx.com.
Investor Contacts: Jill
Steierjill.steier@kalarx.com 781-810-4086
Hannah Deresiewiczhannah.deresiewicz@sternir.com
212-362-1200
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