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

SOUTH SAN FRANCISCO, Calif., Dec. 31, 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 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.

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