Kala Pharmaceuticals Reports Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
August 19 2022 - 4:01PM
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), today announced that the
Company granted non-statutory stock options to new employees 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 35,000 shares of Kala Pharmaceuticals common stock to two new
employees. The stock options were granted on August 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 $0.33 per
share, the closing price of Kala Pharmaceuticals’ common stock on
August 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 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 the potential development of 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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