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

Rhea-AI Summary

KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) announced the granting of inducement stock options for 2,000 shares to a newly-hired employee, effective December 1, 2022. The options have an exercise price of $5.34, matching the closing stock price on the grant date. Vesting occurs in stages, with a quarter vesting after one year and the remainder in monthly installments over three years. KalVista focuses on developing innovative therapies for conditions like hereditary angioedema and diabetic macular edema, with ongoing clinical trials for sebetralstat and KVD001.

Positive

• Granting stock options may enhance employee retention and motivation.
• KalVista's focus on developing unique therapies aligns with significant unmet medical needs.

Negative

• None.

CAMBRIDGE, Mass. & SALISBURY, England--(BUSINESS WIRE)-- KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), today announced that the compensation committee of KalVista’s board of directors granted one newly-hired employee inducement options to purchase an aggregate of 2,000 shares of KalVista common stock on December 1, 2022 as inducement material to such 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 $5.34 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 oral, 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 sebetralstat as an oral on-demand therapy for HAE attacks and is enrolling the Phase 3 KONFIDENT clinical trial. In addition, KalVista’s oral Factor XIIa inhibitor program represents a new generation of therapies that may further improve the treatment for people living with HAE. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005236/en/

KalVista Pharmaceuticals, Inc.

Jarrod Aldom

Vice President, Corporate Communications

(201) 705-0254

jarrod.aldom@kalvista.com

 

Source: KalVista Pharmaceuticals, Inc.

FAQ

What is the significance of KalVista's recent stock option grant?

The grant of stock options to a new employee may help attract and retain talent, which is crucial for ongoing business development.

What is the exercise price of the stock options granted by KalVista?

The exercise price of the inducement stock options is $5.34 per share.

When do the stock options granted by KalVista start vesting?

One-fourth of the options will vest on the one-year anniversary of the vesting commencement date, with the remaining options vesting monthly over the next three years.

What are the ongoing projects of KalVista Pharmaceuticals?

KalVista is currently developing sebetralstat for hereditary angioedema and KVD001 for diabetic macular edema, with clinical trials ongoing.