Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
February 18 2022 - 4:00PM
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that the
Company granted non-statutory stock options to a 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 stock options to purchase up to an aggregate
of 15,000 shares of Kala Pharmaceuticals common stock to the new
employee. The stock options were granted on February 15, 2022. The
grant was approved by the Compensation Committee and made as an
inducement material to such employee entering into employment with
Kala Pharmaceuticals in accordance with NASDAQ Listing Rule
5635(c)(4). The option award has an exercise price of $0.77 per
share, the closing price of Kala Pharmaceuticals’ common stock on
February 15, 2022. 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 options is subject to the
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
KALA BIO (NASDAQ:KALA)
Historical Stock Chart
From May 2024 to Jun 2024
KALA BIO (NASDAQ:KALA)
Historical Stock Chart
From Jun 2023 to Jun 2024