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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 that its compensation committee granted inducement options to purchase 23,000 shares of common stock to six newly-hired employees on November 3, 2021. The options have an exercise price of $18.22 per share, equal to the closing price on the grant date. Vesting occurs over four years, with one-fourth vesting on the first anniversary and the rest monthly over three years. KalVista focuses on developing small molecule protease inhibitors for unmet medical needs, specifically targeting HAE and DME.
Positive
Inducement options granted for 23,000 shares could attract talent, potentially enhancing the company's workforce.
The exercise price of $18.22 is in line with market value, indicating confidence in stock 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 23,000 shares of KalVista common stock on November 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 $18.22 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.
What inducement options were granted by KalVista Pharmaceuticals on November 3, 2021?
KalVista Pharmaceuticals granted inducement options to purchase 23,000 shares of common stock to six newly-hired employees.
What is the exercise price for the stock options granted by KalVista?
The exercise price for the stock options is $18.22 per share.
What is the vesting schedule for the stock options at KalVista?
The options vest one-fourth on the one-year anniversary and the remainder in equal monthly installments over three years.
What is the focus of KalVista Pharmaceuticals?
KalVista Pharmaceuticals focuses on developing small molecule protease inhibitors for diseases with significant unmet need, specifically targeting HAE and DME.
