KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

KalVista Pharmaceuticals (NASDAQ: KALV) announced the granting of 20,000 inducement stock options to four newly-hired employees as part of their employment agreement on August 3, 2021. The options have an exercise price of $20.65 per share, aligning with the closing price on the grant date. Vesting occurs in stages, with one-fourth vesting after one year and the rest monthly over three years. KalVista focuses on developing small molecule protease inhibitors for serious diseases, including hereditary angioedema and diabetic macular edema.

Positive

• Granting of stock options may enhance employee retention and motivation.
• KalVista's pipeline includes promising treatments for unmet medical needs.

Negative

• None.

KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted four newly-hired employees inducement options to purchase an aggregate of 20,000 shares of KalVista common stock on August 3, 2021 as inducements material to each employee entering into employment with KalVista. The options were granted in accordance with Nasdaq Listing Rule 5635(c)(4).

The options have an exercise price of $20.65 per share, which was equal to the closing price of KalVista common stock on the grant date. One-fourth of the options vest on the one-year anniversary of the vesting commencement date and the remainder vest in equal monthly installments over the next three years, in each case subject to the new employee’s continued service with the company. Each stock option has a 10-year term and is subject to the terms and conditions of KalVista’s Inducement Equity Incentive Plan and a stock option agreement covering the grant.

About KalVista Pharmaceuticals, Inc.

KalVista Pharmaceuticals, Inc. is a pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors for diseases with significant unmet need. KalVista has developed a proprietary portfolio of novel, small molecule plasma kallikrein inhibitors initially targeting hereditary angioedema (HAE) and diabetic macular edema (DME). KalVista is developing KVD900 as an oral on-demand therapy for acute HAE attacks, which completed a Phase 2 efficacy trial in February 2021, demonstrating statistical and clinical significance across all endpoints. KVD824 is in development for prophylactic treatment of HAE. In addition, KalVista’s oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve the treatment of HAE for patients. In DME, an intravitreally administered plasma kallikrein inhibitor, called KVD001, has completed a Phase 2 clinical trial.

For more information, please visit www.kalvista.com.

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FAQ

What stock options did KalVista Pharmaceuticals grant?

KalVista granted 20,000 inducement stock options to four new employees on August 3, 2021.

What is the exercise price for KalVista's stock options?

The exercise price for the stock options is $20.65 per share.

What is the vesting schedule for KalVista's stock options?

The stock options vest one-fourth after one year and the remainder in equal monthly installments over the next three years.

What does KalVista Pharmaceuticals specialize in?

KalVista specializes in developing small molecule protease inhibitors for diseases with significant unmet needs.

What recent clinical trials has KalVista completed?

KalVista completed a Phase 2 efficacy trial for KVD900 in February 2021.