WALTHAM, Mass.--(BUSINESS WIRE)--Apr. 9, 2018--
Kala Pharmaceuticals, Inc. (NASDAQ:KALA), a biopharmaceutical company
focused on the development and commercialization of product candidates
using its proprietary mucus-penetrating particle (MPP) technology, today
announced that in connection with the appointment of Eric Trachtenberg
as General Counsel and Corporate Secretary, the Company granted Mr.
Trachtenberg an inducement award outside the Company’s 2017 Equity
Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).
The Company granted to Mr. Trachtenberg a stock option to purchase up to
150,000 shares of Kala Pharmaceuticals’ common stock. The stock option
was granted on April 5, 2018. The grant was approved by the Compensation
Committee and was made as an inducement material to Mr. Trachtenberg’s
entering into employment with Kala Pharmaceuticals in accordance with
NASDAQ Listing Rule 5635(c)(4). The option award has an exercise price
of $16.62 per share, the closing price of Kala Pharmaceuticals’ common
stock on April 5, 2018. The option has a ten-year term and vests over
four years with 25% of the original number of shares vesting on April 2,
2019, and the remainder vesting in equal monthly installments over the
following three years. Vesting of the option is subject to Mr.
Trachtenberg’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 designed for ocular applications,
resulting in two lead product candidates. The product candidates are
INVELTYS™ (KPI-121 1%) for the treatment of inflammation and pain
following ocular surgery, for which an NDA has been accepted for review
by the FDA, and KPI-121 0.25% for the temporary relief of the signs and
symptoms of dry eye disease.
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Source: Kala Pharmaceuticals, Inc.
Investor and Media Contact:
Cammy Duong, 781-591-3443