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KalVista Pharmaceuticals Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
KalVista Pharmaceuticals (NASDAQ: KALV) announced the grant of inducement options to a newly-hired employee for 20,000 shares of common stock on June 1, 2022. The options have an exercise price of $8.74, matching the closing share price on the grant date. They vest over four years, with one-fourth vesting on the one-year anniversary, followed by monthly vesting. This grant complies with Nasdaq Listing Rule 5635(c)(4). KalVista is focused on developing oral protease inhibitors for unmet medical needs, including treatments for hereditary angioedema and diabetic macular edema.
Positive
Granting of 20,000 inducement options can attract skilled talent to the company.
The exercise price of $8.74 aligns with the market value, indicating no immediate financial loss.
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 20,000 shares of KalVista common stock on June 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 $8.74 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 acute HAE attacks and has initiated the Phase 3 KONFIDENT clinical trial. KVD824 is in development for prophylactic treatment of HAE, with the Phase 2 KOMPLETE clinical trial underway. 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.
