Kala Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
WALTHAM, Mass.–(BUSINESS WIRE)–Kala Pharmaceuticals, Inc. (NASDAQ:KALA), a biopharmaceutical company
focused on the development and commercialization of therapeutics using
its proprietary mucus-penetrating particle (MPP) technology, 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
69,500 shares of Kala Pharmaceuticals common stock to seven new
employees. The stock options were granted on September 17, 2018. The
grant was approved by the Compensation Committee and was 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 $10.68 per share, the closing
price of Kala Pharmaceuticals’ common stock on September 17, 2018. 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 biopharmaceutical company focused on the development and
commercialization of therapeutics using its proprietary Mucus
Penetrating Particle (MPP) technology, with an initial focus on the
treatment of eye diseases. Kala has applied the MPP technology to a
corticosteroid, loteprednol etabonate, designed for ocular applications,
resulting in the recent approval of INVELTYSTM (loteprednol
etabonate ophthalmic suspension) 1% for the treatment of inflammation
and pain following ocular surgery. Kala plans to submit a New Drug
Application for KPI-121 0.25%, for the temporary relief of the signs and
symptoms of dry eye disease in the second half of 2018.
Contacts
For Kala Pharmaceuticals, Inc.
Investors
Michael Schaffzin,
212-362-1200
michael@sternir.com
or
Media
Kari
Watson, 781-235-3060
kwatson@macbiocom.com
