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Item 8.01. Other Events.
On January 9, 2023, Kala Pharmaceuticals, Inc. (the “Company”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that its application to transfer the listing of its common stock, par value $0.001 per share (the “Common Stock”), from The Nasdaq Global Select Market to The Nasdaq Capital Market had been approved. The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as The Nasdaq Global Select Market and listed companies must meet certain financial requirements and comply with Nasdaq’s corporate governance requirements. The transfer will be effective at the opening of business on January 11, 2023. The Company’s Common Stock will continue to trade under the symbol “KALA.”
The transfer was approved following Nasdaq’s determination that the Company met the applicable requirements for continued listing on The Nasdaq Capital Market, including Listing Rule 5550(b)(1), the minimum stockholders equity requirement for continued listing on The Nasdaq Capital Market. In addition, Nasdaq advised the Company that, upon the transfer of its listing to The Nasdaq Capital Market, the Company will also be in compliance with Nasdaq Rule 5550(a)(5), the market value of publicly held shares requirement for continued listing on The Nasdaq Capital Market.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
KALA PHARMACEUTICALS, INC.
Date: January 10, 2023
/s/ Eric L. Trachtenberg
Name: Eric L. Trachtenberg
Title: General Counsel, Chief Compliance Officer