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KALA BIO (NASDAQ: KALA) released its first quarter 2024 financial results and corporate update, emphasizing ongoing patient enrollment in the Phase 2b CHASE trial for KPI-012 targeting persistent corneal epithelial defect (PCED), with topline data expected by year-end 2024.
The company is also exploring KPI-012 for other corneal diseases like Limbal Stem Cell Deficiency (LSCD) and the preclinical KPI-014 for inherited retinal diseases.
As of March 31, 2024, KALA had cash resources of $48.5 million, expected to fund operations into 3Q 2025. First-quarter financials revealed a net loss of $11.8 million ($4.20 per share), compared to a $14.5 million loss ($6.99 per share) in the same period in 2023. G&A expenses decreased to $5.4 million, while R&D expenses increased to $6.4 million.