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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) granted inducement options for 43,000 shares to five new employees on September 1, 2021. The options have an exercise price of $20.76 per share, matching the stock's closing price on the grant date. Vesting occurs gradually over four years. KalVista is focused on developing small molecule protease inhibitors for unmet medical needs, notably in hereditary angioedema and diabetic macular edema. The company is advancing multiple clinical trials, including KVD900 for HAE.
Positive
Granting of options may enhance employee retention and attract talent.
KVD900 demonstrated statistical and clinical significance in a Phase 2 trial.
Ongoing development of therapies for unmet medical needs can position KalVista favorably in the market.
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 five newly-hired employees inducement options to purchase an aggregate of 43,000 shares of KalVista common stock on September 1, 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 $20.76 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 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.
