Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
December 17 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 13,500 shares of Kala Pharmaceuticals common stock to four new
employees. The stock options were granted on December 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 $1.44 per
share, the closing price of Kala Pharmaceuticals’ common stock on
December 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% and INVELTYS® (loteprednol etabonate ophthalmic
suspension) 1%. The Company also has a pipeline of development
programs including a clinical-stage secretome product candidate,
KPI-012, initially targeting persistent corneal epithelial defects
(PCED) and multiple proprietary new chemical entity (NCE)
preclinical 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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