Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
July 22 2022 - 4:01PM
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 40,000 shares of Kala Pharmaceuticals common stock to the new
employee. The stock options were granted on July 18, 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 $0.33 per
share, the closing price of Kala Pharmaceuticals’ common stock on
July 18, 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 clinical-stage biopharmaceutical company
dedicated to the research, development and commercialization of
innovative therapies for rare diseases of the eye. Kala’s
biologics-based investigational therapies utilize Kala’s
proprietary Mesenchymal Stem Cell Secretome (MSC-S) platform.
Kala’s lead product candidate, KPI-012, is in clinical development
for the treatment of persistent corneal epithelial defect (PCED), a
rare disease of impaired corneal healing, which has received orphan
drug designation from the U.S. Food and Drug Administration. Kala
is also targeting KPI-012 for the treatment of Partial Limbal Stem
Cell Deficiency and ocular manifestations of moderate-to-severe
Sjögren's and plans to initiate preclinical studies to evaluate the
utility of its MSC-S platform for retinal degenerative diseases,
such as Retinitis Pigmentosa and Stargardt Disease. For more
information on Kala, please visit www.kalarx.com.
Investor Contacts: Hannah
Deresiewiczhannah.deresiewicz@sternir.com 212-362-1200
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