SOUTH SAN FRANCISCO, Calif — Calithera Biosciences, Inc. (Nasdaq: CALA), a clinical stage biotechnology company focused on discovering and developing novel small molecule drugs for the treatment of cancer and other life-threatening diseases, today announced that the compensation committee of the company’s board of directors granted one new employee a non-qualified stock option to purchase an aggregate of 50,000 shares of Calithera’s common stock, at a per share exercise price of $4.91, the closing trading price on December 31, 2020. One-fourth of the option vests in December 2021, and the balance of the option vests in a series of thirty-six successive equal monthly installments thereafter and was granted pursuant to the Calithera Biosciences, Inc. 2018 Inducement Plan, or Inducement Plan, which was approved by Calithera’s board of directors in January 2018 in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option also has a ten-year term and is subject to the terms and conditions of the Inducement Plan and the stock option agreement pursuant to which the option was granted.
The stock option was granted as an inducement material to the new employee entering into employment with Calithera in accordance with Nasdaq Listing Rule 5635(c)(4).
Calithera Biosciences is a clinical-stage biopharmaceutical company pioneering the discovery and development of targeted therapies that disrupt cellular metabolic pathways to preferentially block tumor cells and enhance immune-cell activity. Driven by a commitment to rigorous science and a passion for improving the lives of people impacted by cancer and other life-threatening diseases, Calithera is advancing a pipeline of first-in-clinic, oral therapeutics to meaningfully expand treatment options available to patients. Calithera is headquartered in South San Francisco, California. For more information about Calithera, please visit www.calithera.com.