KALA

Leadership Change at KALA BIO: KALA BIO, Inc. announced the resignation of CEO Mark Iwicki and appointed Todd Bazemore as interim CEO, while Iwicki will remain as Chair of the Board. Bazemore has extensive experience in the biopharmaceutical industry and aims to advance KALA's lead product candidate, KPI-012.

Focus on Innovative Therapies: KALA is dedicated to developing therapies for rare eye diseases using its proprietary MSC-S platform, with KPI-012 currently in clinical trials for persistent corneal epithelial defect (PCED) and potential applications for other ocular conditions.

Kala Pharmaceuticals Stock Offering: Kala Pharmaceuticals (KALA) has filed to sell 1.67 million shares of common stock for its holders.

Private Placement Details: The company plans to sell 1.34 million shares at a price of $6.44 in a private placement.

Insider Trading Activity: Darius Kharabi, the Chief Business Officer of $KALA, sold 2,021 shares, representing about 2.9% of his holdings, leaving him with 67,807 shares. In the past six months, there have been a total of seven insider trades involving $KALA stock, with five sales and two purchases.

Institutional Investor Movements: Recently, seven institutional investors increased their positions in $KALA, while eleven reduced theirs in the last quarter, indicating mixed sentiment among larger shareholders.

KALA BIO's Private Placement: KALA BIO, Inc. has entered into a securities purchase agreement for a private placement of common stock and Series I Preferred Stock, raising approximately $10.75 million to fund its clinical development of KPI-012 for treating persistent corneal epithelial defect.

Clinical Trial Progress: The company is actively recruiting patients for the Phase 2b CHASE trial of KPI-012, with over 80% enrollment completed, and expects to report topline data in the second quarter of 2025, which may support a future BLA submission.

Kala Bio Q2 2024 Earnings Report: Kala Bio reported a second-quarter earnings per share of -$3.16, surpassing analyst expectations of -$4.40, but did not generate any revenue for the quarter.

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Financial Update: KALA BIO, Inc. successfully closed a $12.5 million private placement financing and reported cash resources of $54.2 million as of June 30, 2024, which is expected to fund operations into the fourth quarter of 2025.

Clinical Development: The company is advancing its lead candidate KPI-012 for Persistent Corneal Epithelial Defect (PCED) with topline data from the Phase 2b CHASE trial anticipated in Q1 2025, while also exploring additional indications and developing another asset, KPI-014, for retinal diseases.

Kala Pharmaceuticals Earnings Report:

• Kala Pharmaceuticals (NASDAQ:KALA) reported earnings per share of -$4.20 for the first quarter of 2024, below the analyst estimate of -$2.89.
• The company did not report any revenue for the quarter.

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