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Kalytera Announces Grant of Stock Options to Chief Scientific Officer and Chief Medical Officer
Kalytera Announces Grant of Stock Options to Chief Scientific Officer and Chief Medical Officer.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\n\n SAN FRANCISCO and TEL AVIV, Israel, March 14, 2018 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX VENTURE:KALY) (OTCQB:KALTF) (the \"Company\" or \"Kalytera\") today announced that it has granted stock options on March 13, 2018 to certain officers of the Company.  The stock options have an exercise price of $0.34 per common share and expire ten years from the date of grant.  Stock options to purchase 650,000 common shares of Kalytera were issued to Dr. Sari Prutchi-Sagiv, the Chief Scientific Officer of the Company, and stock options to purchase 750,000 common shares of Kalytera were issued to Dr. Moshe Yeshurun, the Chief Medical Officer of the Company.  One-quarter of the options granted will vest on June 15, 2018 (in the case of Dr. Prutchi-Sagiv) or July 15, 2018 (in the case of Dr. Yeshurun) and the remaining options will vest in thirty-six (36) equal monthly installments following the initial vesting date.\n The Company also announced that the TSX Venture Exchange (the “TSXV”) has approved, and the Company has completed, a settlement of certain debt previously owing to a service provider through the issuance of common shares to the service provider.  This transaction was previously announced on January 11, 2018, and involved debt owing of US$76,000 (or C$94,969.60 based on the daily average exchange rate for January 10, 2018 published by the Bank of Canada).  This debt was extinguished through the issuance of 328,614 Common Shares, based on a deemed issue price of C$0.289 per Common Share, being 85% of the closing price of the Common Shares on the TSXV on January 11, 2018. About Kalytera TherapeuticsKalytera Therapeutics, Inc. (\"Kalytera\") is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on graft versus host disease (“GVHD”) . Kalytera also intends to develop a new class of proprietary cannabidiol (\"CBD\") therapeutics. CBD is a versatile compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural ...