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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, Inc. (NASDAQ: KALV) announced the grant of inducement options for 18,000 shares to six newly-hired employees, effective December 1, 2021. The options have an exercise price of $13.63 per share, aligned with the closing stock price on the grant date. Vesting occurs over four years: one-fourth after one year, with remaining shares vesting monthly over three years. This move complies with Nasdaq Listing Rule 5635(c)(4) and is part of KalVista's strategy to attract talent for its innovative therapies targeting hereditary angioedema and diabetic macular edema.
Positive
Inducement options granted to attract new talent, indicating company growth plans.
Options align with stock price, potentially motivating employee performance.
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 six newly-hired employees inducement options to purchase an aggregate of 18,000 shares of KalVista common stock on December 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 $13.63 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. 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.
