Kalytera Therapeutics, Inc. (TSX VENTURE: KALY and OTCQB:KALTF) (the “Company” or “Kalytera”) today announced that it has granted stock options on September 24, 2018 to certain directors and employees of the Company. The stock options have an exercise price of $0.135 per common share and expire ten years from the date of grant. One third of the options granted will vest on September 24, 2019 and the remaining options will vest in twenty-four (24) equal monthly installments commencing October 2019.
Stock options to purchase 1,262,475 common shares of Kalytera were issued to each of Ron Erickson, Jeff Paley and Gary Leong, who are all independent members of the Company’s board of directors, and stock options to purchase 5,117,794 common shares of Kalytera were issued to Robert Farrell, a director and the Chief Executive Officer of the Company. Stock options to purchase 250,000 common shares of Kalytera were issued to Victoria Rudman, the Company’s Interim Chief Financial Officer, while Drs. Prutchi-Sagiv and Yeshurun were granted stock options to purchase 400,000 common shares and 500,000 common shares of the Company, respectively.
Kalytera Therapeutics, Inc. is pioneering the development of cannabidiol (CBD) therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of CBD medicines for a range of important unmet medical needs, with an initial focus on graft versus host disease (GVHD) and treatment of acute and chronic pain.
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This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives and other statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the ris k that future clinical studies may not proceed as expected or may produce unfavourable results. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third-parties, its securities, or financial or operating results (as applicable). Although Kalytera believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Kalytera’s control. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. Kalytera disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.