Calithera Biosciences Announces New Employment Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

SOUTH SAN FRANCISCO, Calif., Nov. 02, 2020 (GLOBE NEWSWIRE) -- 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 three new employees non-qualified stock options to purchase an aggregate of 138,500 shares of Calithera’s common stock, at a per share exercise price of $3.54, the closing trading price on October 30, 2020. One-fourth of the options vest one year after the respective vesting commencement dates, and the balance of the options vest 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 options also have a ten year term and are subject to the terms and conditions of the Inducement Plan and the stock option agreement pursuant to which the options were granted.

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