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KALA BIO, Inc. (KALA) disclosed that on August 27, 2026 it received a Staff Determination Letter from Nasdaq stating that its common stock has failed to meet the $1.00 minimum closing bid price requirement for The Nasdaq Capital Market for 30 consecutive business days from July 16 through August 26, 2026. Under normal circumstances, this would trigger a 180-day grace period, but Nasdaq determined KALA is not eligible for any compliance period because it effected a 1-for-50 reverse stock split on May 11, 2026 within the prior year. KALA plans to timely request a hearing before the Nasdaq Hearings Panel, which will stay any suspension or delisting action while the Panel considers the matter. The company states there is no assurance that continued listing will be granted or that it will regain and maintain compliance with the Minimum Bid Price Requirement or other Nasdaq listing standards.
KALA BIO, Inc. (KALA) reported sharply reduced operating losses as it pivots from ophthalmology biologics to an on‑premises AI infrastructure platform for biotechnology clients. For the six months ended June 30, 2026, net loss was $3.2 million, improving from $20.1 million a year earlier as research and development spending fell to $0.1 million after discontinuing the KPI‑012 MSC‑S program.
Total operating expenses declined to $3.5 million from $21.7 million, driven mainly by lower KPI‑012 trial costs, workforce reductions and elimination of interest expense after resolving debt with Oxford Finance. Cash and cash equivalents were $229 thousand at June 30, 2026, with an additional $7.0 million short‑term loan receivable to Minglemint Solutions that bears 8.0% interest and is callable in part.
KALA raised $4.2 million in January 2026 via Series AAA preferred stock (since converted into 17.64 million common shares) and executed a 1‑for‑50 reverse stock split in May 2026. It obtained an Exclusive License to Younet’s Researgency biomedical AI platform, agreed to pay up to $530 thousand in initial cash fees plus equity, and secured a $55 million option to acquire Younet. A new Form S‑3 shelf registers up to $350 million of securities, including a $250 million at‑the‑market common stock program.
KALA BIO, Inc. has notified regulators that it will file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 after the normal deadline. The company states it cannot complete the report without unreasonable effort and expense because it needs additional time to finalize its analysis and disclosure regarding liquidity and capital resources.
KALA BIO expects to submit the Form 10-Q no later than the fifth calendar day following the prescribed filing date. The company also notes that any financial results referenced are preliminary and may change as work is completed, and it highlights typical forward-looking statement risks, including potential delays in completing the Form 10-Q.
KALA BIO, Inc. reports that on July 22, 2026 it filed a prospectus supplement pursuant to Rule 424(b) under the Securities Act of 1933, relating to an offering of securities under its effective Registration Statement on Form S-3 (File No. 333-295667).
The company is providing a legal opinion on the validity of the securities being offered, furnished as Exhibit 5.1 from Haynes and Boone, LLP, together with a related consent in Exhibit 23.1 and an Inline XBRL cover page data file.
KALA BIO, Inc. has established an at-the-market equity program, allowing it to issue and sell up to $250,000,000 of common stock from time to time through H.C. Wainwright & Co. as sales agent or principal under a Sales Agreement. Sales may occur on Nasdaq under the symbol KALA or other U.S. trading markets at market-related prices, with Wainwright earning a 3.0% commission on gross proceeds. At an assumed price of $0.78 per share, this would correspond to up to 337,837,838 shares and 357,177,624 shares outstanding after the offering, though actual amounts will depend on market conditions and management’s discretion.
The company is transitioning from ophthalmic biologics R&D to an AI platform-as-a-service model for biotechnology, built around its licensed Researgency agentic AI platform, while seeking to monetize legacy MSC-S biologics assets. A 1-for-50 Reverse Stock Split effective May 8, 2026, reduced outstanding common shares from 929,491,578 to 18,589,824, with no change to the 1,500,000,000 authorized shares. For 2025, KALA reported a net loss attributable to common stockholders of $26.98 million, or $165.56 basic and diluted net loss per share on a split-adjusted basis. The company is a smaller reporting company and intends to use any ATM proceeds for general corporate purposes, including working capital.
KALA BIO, Inc. shareholder David E. Lazar filed an amended beneficial ownership report showing he now holds 719,404 shares of KALA common stock, representing 3.9% of the company. This percentage is based on 18,589,787 shares outstanding as of June 9, 2026.
The filing states that Lazar’s position consists of Conversion Shares received upon converting Series AA Preferred Stock he purchased under a securities purchase agreement, with an aggregate purchase price of $1,308,007. As of April 24, 2026, he ceased to be a beneficial owner of more than 5% of KALA’s outstanding shares.
KALA BIO, Inc. files an Amendment No. 1 to a shelf registration to replace its prior registration and register unsold securities under Rule 415, and provides a prospectus for up to $350,000,000 of securities. The filing carries forward an aggregate of $327,820,467 of unsold securities from the prior registration statement under Rule 415(a)(6).
The company discloses a 1-for-50 reverse stock split effective May 8, 2026, which reduced shares outstanding from 929,491,578 to 18,589,787. The filing reflects the split-adjusted impact on weighted-average shares and basic and diluted net loss per share for the years ended December 31, 2025 and 2024, and states that most share counts and per-share amounts in the prospectus are presented on a pre–Reverse Stock Split basis.
KALA BIO, Inc. Amendment No. 2 to a Schedule 13G/A updates beneficial ownership disclosures following a 1-for-50 Reverse Stock Split effective May 8, 2026. The filing reports that the Reporting Persons collectively may be deemed to beneficially own 2,312 shares of Common Stock, or 0.01%, based on 18,226,604 shares outstanding as of February 4, 2026. The disclosure breaks the Funds' direct holdings into 667 (228 shares) and Life Sciences (2,084 shares) and states the Adviser and related entities may be deemed indirect beneficial owners under existing management agreements.
KALA BIO, Inc. reported a much smaller net loss as it restructures around an AI platform strategy. For the three months ended March 31, 2026, net loss was $1.6 million versus $8.9 million a year earlier, driven by sharply lower research and development and general and administrative expenses after discontinuing its KPI‑012 eye‑disease program.
Cash and cash equivalents were $1.8 million with an additional $7.0 million short‑term investment loan, and management believes current resources fund operations into the second quarter of 2027. During the quarter KALA raised $4.2 million through a private placement of Series AAA preferred stock (all since converted to common), secured an exclusive license to Younet’s Researgency biomedical AI platform, and made a secured 8.0% loan to Minglemint Solutions. The company also completed a 1‑for‑50 reverse stock split and regained Nasdaq market‑value compliance, but continues to report a material weakness in internal control over financial reporting.