Welcome to our dedicated page for Kala Pharmaceuticals news (Ticker: KALA), a resource for investors and traders seeking the latest updates and insights on Kala Pharmaceuticals stock.
KALA BIO, Inc. (NASDAQ: KALA) generates news that spans clinical trial developments, strategic reviews, financing transactions and capital structure changes in the ophthalmology-focused biopharmaceutical space. As a clinical-stage company centered on rare and severe eye diseases, its updates often revolve around the progress and outcomes of its investigational programs and the funding required to support them.
A major theme in recent KALA news has been the development of KPI-012, a human mesenchymal stem cell secretome (MSC-S) therapy studied for persistent corneal epithelial defect (PCED). The company has reported on milestones such as completion of enrollment in the CHASE Phase 2b trial and, later, topline results showing that the study did not meet its primary or key secondary endpoints. These disclosures were accompanied by announcements about ceasing development of KPI-012 and the MSC-S platform, workforce reductions and an evaluation of strategic options.
Another significant stream of news involves financing and restructuring. KALA has issued press releases on a registered direct offering of common stock, a securities purchase agreement for non-voting convertible preferred stock, and a convertible loan agreement, as well as updates on a loan settlement with Oxford Finance LLC that resolved substantial debt obligations. Leadership and governance changes, including appointments in executive roles and board positions, have also been reported.
Investors and followers of KALA BIO’s news can expect coverage related to clinical data readouts, regulatory designations, Nasdaq listing compliance matters, debt settlements, equity offerings and strategic transaction discussions. Monitoring this news flow provides context on the company’s evolving pipeline priorities, financial position and potential corporate actions. For an ongoing view of these developments, readers can review the chronological news feed associated with the KALA ticker.
KALA BIO (NASDAQ:KALA) reported Q2 2024 financial results and provided a corporate update. Key highlights include:
- Closed a $12.5 million private placement financing
- Cash resources of $54.2 million as of June 30, 2024
- Funding expected to last into Q4 2025
- Topline data from Phase 2b CHASE trial of KPI-012 for PCED targeted in Q1 2025
The company is advancing its MSC-S platform technology, focusing on KPI-012 for PCED and exploring potential in other eye diseases. Q2 2024 financial results show a net loss of $9.6 million, or $3.16 per share, compared to $10.4 million, or $4.36 per share, in Q2 2023.
KALA BIO, a clinical-stage biopharmaceutical company, announced a private placement agreement with institutional investors to sell 1,197,314 shares of common stock at $5.85 per share and 9,393 shares of Series H Preferred Stock at $585.00 per share, raising approximately $12.5 million before expenses.
The placement, led by SR One with participation from ADAR1 Capital Management and another life sciences-focused investor, is set to close around June 28, 2024, pending customary conditions. Net proceeds will fund the clinical development of KPI-012 for persistent corneal epithelial defects and general corporate purposes.
The securities are unregistered under the Securities Act of 1933 and will only be offered via a prospectus. KALA will file a registration statement with the SEC within 30 days post-closing for resale purposes.
KALA BIO (NASDAQ:KALA) will present at the Jefferies Global Healthcare Conference on June 5, 2024, in New York, NY. Kim Brazzell, Ph.D., Head of R&D and Chief Medical Officer, will deliver the presentation at 12:30 p.m. ET. The company's management team is also available for one-on-one meetings on the same day. The presentation's webcast and archived recording will be accessible on the KALA website.
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.
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