Kala Pharmaceuticals Inc Stock Price, News & Analysis

Kala Pharmaceuticals (NASDAQ: KALA) has appointed Dr. Marjan Farid to its Board of Directors. Dr. Farid is a recognized expert in ophthalmology, specializing in corneal diseases and patient care at the Gavin Herbert Eye Institute, UCI. Her insights will be pivotal as Kala advances its lead product candidate, KPI-012, into Phase 2/3 studies for treating persistent corneal epithelial defect (PCED). KPI-012 has shown potential in addressing severe ocular diseases linked to impaired corneal healing. This leadership change aims to enhance the company's development capabilities and patient treatment options.

Kala Pharmaceuticals, Inc. (NASDAQ: KALA) announced a 1-for-50 reverse stock split effective October 20, 2022, with trading on a split-adjusted basis starting October 21, 2022. The split will reduce the outstanding shares from approximately 73.2 million to about 1.46 million. This decision was approved by stockholders at a special meeting held on October 19, 2022, and aims to enhance the stock's price and compliance with Nasdaq listing requirements. Stockholders' percentage interest will remain unaffected, except for any rounding of fractional shares.

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) has announced its participation in the H.C. Wainwright 24th Annual Global Investment Conference, with a pre-recorded fireside chat available from September 12, 2022, at 7:00 a.m. ET. The conference will be held virtually and in New York, NY, and management will be available for one-on-one meetings. Kala focuses on developing therapies for rare eye diseases, including its lead product candidate KPI-012 for persistent corneal epithelial defects, which has received orphan drug designation from the FDA.

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) announced the grant of non-statutory stock options to two new employees as an inducement award under NASDAQ Listing Rule 5635(c)(4). The company granted stock options to purchase a total of 35,000 shares, with an exercise price of $0.33 per share, the closing price on August 15, 2022. The options vest over four years, with the first 25% vesting on the one-year anniversary of employment. Kala is focused on innovative therapies for rare eye diseases, with its lead candidate, KPI-012, under clinical development for persistent corneal epithelial defect.

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) announced a dividend of one one-thousandth of a share of Series D Preferred Stock for each outstanding share of common stock, record date August 29, 2022. The Series D shares will collectively vote on a reverse stock split alongside common stockholders. Holders of these shares will not have voting rights on other matters and will be redeemed if not present at the meeting or if approved for a reverse stock split. Detailed information will be available in an upcoming Form 8-K filing.

Kala Pharmaceuticals reported a net loss of $28.1 million, or $0.38 per share, for Q2 2022, down from $36.5 million, or $0.57 per share, in Q2 2021. The net product revenues were $2.1 million, a decline from $3.1 million year-over-year. However, the company received a $60 million upfront payment from the sale of EYSUVIS and INVELTYS to Alcon Inc., allowing it to extend its cash runway into Q2 2024. A Phase 2/3 trial for KPI-012 targeting persistent corneal epithelial defect (PCED) is set to commence in Q4 2022, with topline data expected in Q1 2024.

Kala Pharmaceuticals, Inc. (NASDAQ:KALA), a clinical-stage biopharmaceutical company focused on rare eye diseases, announced its participation in two virtual healthcare investor conferences in August 2022. The first event is the Wedbush PacGrow Healthcare Conference on August 10, where company management will engage in a fireside chat at 8:00 a.m. ET. The second event is the H.C. Wainwright & Co. 2nd Annual Ophthalmology Conference on August 17, featuring a pre-recorded presentation available at 7:00 a.m. ET. Webcasts of both events can be accessed on Kala's website.

Kala Pharmaceuticals (NASDAQ: KALA) announced the grant of non-statutory stock options to a new employee, totaling 40,000 shares. This award, made as an inducement for employment outside the 2017 Equity Incentive Plan, was approved by the Compensation Committee and has an exercise price of $0.33 per share, equal to the stock's closing price on July 18, 2022. The options will vest over four years, beginning with 25% on the first anniversary and the remainder monthly thereafter. Kala is known for its innovative eye therapies, including KPI-012, targeted at rare corneal diseases.

Kala Pharmaceuticals (NASDAQ: KALA) announced the completion of its sale of a commercial portfolio, including EYSUVIS and INVELTYS, to Alcon Inc. for $60 million. This marks a strategic shift for Kala, enabling it to focus on developing KPI-012, a novel biologic for rare eye diseases. The company expects to fund operations through Q2 2024, backed by cash resources and reduced expenses. CEO Mark Iwicki emphasized the company’s strengthened financial position and commitment to advancing innovative treatments.