Kala Pharmaceuticals Inc Stock Price, News & Analysis

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.

Kala Pharmaceuticals (NASDAQ:KALA) announced the grant of non-statutory stock options to two new employees as inducement awards outside its 2017 Equity Incentive Plan, in compliance with NASDAQ Listing Rule 5635(c)(4). A total of 50,000 shares were granted on June 15, 2022, at an exercise price of $0.39 per share. The options have a ten-year term and vest over four years. The company is focused on innovative therapies for eye diseases and is expected to finalize the sale of its commercial portfolio to Alcon Inc. in Q3 2022, pending regulatory approvals.

Kala Pharmaceuticals, Inc. (NASDAQ:KALA) announced its participation at the Jefferies Healthcare Conference in New York, scheduled for June 9, 2022. The management team will hold a fireside chat at 10:30 a.m. ET and will be available for one-on-one meetings on June 8 and 9. The company focuses on innovative eye disease therapies, utilizing its AMPPLIFY® drug delivery technology. Notably, on May 23, 2022, Kala agreed to sell its commercial portfolio to Alcon Inc., with the transaction expected to close in Q3 2022, pending regulatory conditions.

Kala Pharmaceuticals (NASDAQ: KALA) has signed a deal to sell its commercial portfolio, including EYSUVIS and INVELTYS, to Alcon Inc. for $60 million upfront, with additional sales-based milestone payments. This strategic move is aimed at focusing resources on the development of KPI-012, a therapy targeting rare ocular diseases. With this transition, Kala expects a significant reduction in operating expenses, extending its cash runway into Q2 2024. The sale is projected to close in Q3 2022, pending regulatory approvals.

Kala Pharmaceuticals reported Q1 2022 financial results and corporate updates on May 16, 2022. The company achieved 18% growth in EYSUVIS prescriptions and expanded coverage for EYSUVIS to 92% of commercial lives and 30% of Medicare lives. Net product revenues were $1.4 million, a decline from $3.3 million in Q1 2021. Operating loss increased to $30.9 million, with a net loss of $32.9 million, or $0.45 per share. Notably, the company plans to initiate a Phase 2/3 clinical trial for KPI-012 by Q4 2022.