WATERTOWN, Mass. WATERTOWN, Mass.–(BUSINESS WIRE)–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
26,000 shares of Kala Pharmaceuticals common stock to three new
employees. The stock options were granted on May 15, 2019. 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 $5.94 per share, the closing
price of Kala Pharmaceuticals’ common stock on May 15, 2019. 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 AMPPLIFY™
mucus-penetrating particle (MPP) Drug Delivery Technology, with an
initial focus on the treatment of eye diseases. Kala has applied the
AMPPLIFY Drug Delivery Technology to a corticosteroid, loteprednol
etabonate (LE), designed for ocular applications, resulting in recently
approved INVELTYS® for the treatment of inflammation and pain
following ocular surgery and its lead product candidate, KPI-121 0.25%,
for the temporary relief of the signs and symptoms of dry eye disease,
for which a target action date under the Prescription Drug User Fee Act
(PDUFA) has been set by the United States Food and Drug
Administration (FDA) for August 15, 2019.
Contacts
For Kala Pharmaceuticals, Inc.
Investors
Michael Schaffzin,
212-362-1200
[email protected]
or
Media
Kari
Watson, 781-235-3060
[email protected]
