Kala Pharmaceuticals Announces Preferred Position for EYSUVIS™ on Cigna

Rhea-AI Summary

Kala Pharmaceuticals (NASDAQ:KALA) announced that Cigna has added its product EYSUVIS (loteprednol etabonate ophthalmic suspension) 0.25% to its commercial formulary as a preferred brand, effective May 15, 2021. This addition is expected to enhance patient access to EYSUVIS, which is the first prescription drug approved for the short-term treatment of dry eye disease symptoms. The company aims to engage with additional health plans to expand coverage for this therapy, enhancing its market presence.

Positive

• EYSUVIS added to Cigna's preferred formulary, increasing potential patient access.
• EYSUVIS is the first approved therapy specifically for short-term dry eye disease treatment.

Negative

• Dependence on commercial success of EYSUVIS amidst emerging competitive pressures.
• Risks related to achieving projected financial goals and securing additional coverage from other payors.

Kala Pharmaceuticals, Inc. (NASDAQ:KALA), a biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for diseases of the eye, today announced that Cigna has added EYSUVIS (loteprednol etabonate ophthalmic suspension) 0.25% as a preferred brand on its commercial formulary, effective May 15, 2021.

“We are pleased to announce the addition of EYSUVIS to Cigna’s preferred formulary, reflecting a significant expansion of our commercial coverage and important progress toward our goal of securing broad patient access,” said Todd Bazemore, Chief Operating Officer of Kala Pharmaceuticals. “We look forward to continuing to engage with other commercial and Medicare Part D health plans as we execute on our strategy to optimize coverage, with the goal of delivering EYSUVIS as the preferred prescription therapy for the millions of people in the United States who suffer from dry eye disease flares.”

EYSUVIS was approved in October 2020 as the first and only prescription therapy indicated specifically for the short-term (up to two weeks) treatment of the signs and symptoms of dry eye disease. EYSUVIS became commercially available in the United States in January 2021 and is available through both national and regional U.S. pharmaceutical distribution centers, as well as local retail pharmacies or home delivery.

About EYSUVIS

EYSUVIS (loteprednol etabonate ophthalmic suspension) 0.25% is approved for the short-term (up to two weeks) treatment of the signs and symptoms of dry eye disease. EYSUVIS utilizes Kala's proprietary AMPPLIFY mucus-penetrating particle (MPP) Drug Delivery Technology to enhance penetration of loteprednol etabonate (LE) into target tissue of the ocular surface. EYSUVIS was approved by the FDA on October 26, 2020. Kala believes that EYSUVIS' broad mechanism of action, rapid onset of relief of both signs and symptoms, favorable tolerability and safety profile and the potential to be complementary to existing therapies, offer a differentiated product profile for the treatment of dry eye disease, including the management of dry eye flares.

EYSUVIS Important Safety Information

EYSUVIS, as with other ophthalmic corticosteroids, is contraindicated in most viral diseases of the cornea and conjunctiva including epithelial herpes simplex keratitis (dendritic keratitis), vaccinia, and varicella, and also in mycobacterial infection of the eye and fungal diseases of ocular structures. The initial prescription and each renewal of the medication order should be made by a physician only after examination of the patient with the aid of magnification, such as slit lamp biomicroscopy, and, where appropriate, fluorescein staining. Prolonged use of corticosteroids may result in glaucoma with damage to the optic nerve, as well as defects in visual acuity and fields of vision. Corticosteroids should be used with caution in the presence of glaucoma. Renewal of the medication order should be made by a physician only after examination of the patient and evaluation of the IOP. Use of corticosteroids may result in posterior subcapsular cataract formation. Use of corticosteroids may suppress the host response and thus increase the hazard of secondary ocular infections. In acute purulent conditions, corticosteroids may mask infection or enhance existing infection. Use of a corticosteroid medication in the treatment of patients with a history of herpes simplex requires great caution. Use of ocular corticosteroids may prolong the course and may exacerbate the severity of many viral infections of the eye (including herpes simplex). Fungal infections of the cornea are particularly prone to develop coincidentally with long-term local corticosteroid application. Fungus invasion must be considered in any persistent corneal ulceration where a corticosteroid has been used or is in use. The most common adverse drug reaction following the use of EYSUVIS for two weeks was instillation site pain, which was reported in 5% of patients.

Please see full Prescribing Information at www.eysuvis.com

About Kala Pharmaceuticals, Inc.

Kala is a biopharmaceutical company focused on the discovery, development, and commercialization of innovative therapies for diseases of the eye. Kala has applied its AMPPLIFY^® mucus-penetrating particle (MPP) Drug Delivery Technology to two ocular therapies, EYSUVIS™ (loteprednol etabonate ophthalmic suspension) 0.25% for the short-term (up to two weeks) treatment of signs and symptoms of dry eye disease and INVELTYS® (loteprednol etabonate ophthalmic suspension) 1% for the treatment of post-operative inflammation and pain following ocular surgery. The Company also has a pipeline of preclinical development programs targeted to address unmet medical needs, including both front and back of the eye diseases. For more information on Kala, please visit www.kalarx.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that involve substantial risks and uncertainties, including statements regarding EYSUVIS, the Company continuing to engage with commercial and Medicare Part D health plans as it executes on its strategy to optimize managed care coverage, and the Company’s goal of delivering EYSUVIS as the preferred prescription therapy for the millions of people in the United States who suffer from dry eye disease flares. All statements, other than statements of historical facts, contained in this press release, including statements regarding the Company’s strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words “anticipate,” “believe,” “continue” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on such forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements as a result of various risks and uncertainties including, but not limited to: the impact of extraordinary external events, such as the current pandemic health event resulting from the novel coronavirus (COVID-19), and their collateral consequences, including disruption of the activities of the Company’s sales force and the market for EYSUVIS and INVELTYS; whether the Company will be able to successfully implement its commercialization plans for EYSUVIS and INVELTYS; whether the market opportunity for EYSUVIS and INVELTYS is consistent with the Company’s expectations and market research; the Company’s ability execute on the commercial launch of EYSUVIS on the timeline expected, or at all, including obtaining Commercial and Medicare Part D payor coverage; whether the Company will be able to generate its projected net product revenue on the timeline expected, or at all; whether the Company's cash resources will be sufficient to fund the Company's foreseeable and unforeseeable operating expenses and capital expenditure requirements for the Company's expected timeline; other matters that could affect the availability or commercial potential of EYSUVIS and INVELTYS; and other important factors, any of which could cause the Company's actual results to differ from those contained in the forward-looking statements, discussed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K, most recently filed Quarterly Report on Form 10-Q and other filings the Company makes with the Securities and Exchange Commission. These forward-looking statements represent the Company’s views as of the date of this release and should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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FAQ

What is Kala Pharmaceuticals' stock symbol?

Kala Pharmaceuticals trades under the stock symbol KALA.

What recent development occurred regarding EYSUVIS and Cigna?

Cigna has added EYSUVIS as a preferred brand on its commercial formulary effective May 15, 2021.

What is EYSUVIS used for?

EYSUVIS is indicated for the short-term treatment of symptoms of dry eye disease.

How does the addition of EYSUVIS to Cigna's formulary affect Kala Pharmaceuticals?

The addition may enhance patient access and potentially increase market share for EYSUVIS.