Welcome to our dedicated page for Kala Pharmaceuticals SEC filings (Ticker: KALA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The KALA BIO, Inc. (NASDAQ: KALA) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. These documents offer detailed insight into KALA’s clinical-stage biopharmaceutical business focused on rare and severe eye diseases, its mesenchymal stem cell secretome (MSC-S) platform, and its evolving financial and strategic position.
Through KALA’s annual reports on Form 10-K and quarterly reports on Form 10-Q, investors can review information on research and development activities, pipeline programs such as KPI-012 and KPI-014, risk factors, liquidity and capital resources. Current Reports on Form 8-K highlight material events, including the CHASE Phase 2b trial results for KPI-012, decisions to cease development of KPI-012 and the MSC-S platform, workforce reductions, financing agreements, loan defaults and settlements with Oxford Finance LLC, and Nasdaq listing deficiency notices.
KALA’s filings also include transaction-related documents, such as the Securities Purchase Agreement for Series AA and Series AAA convertible preferred stock, the Convertible Loan Agreement with an investor, and the Oxford Loan Settlement Agreement. These records explain how the company has structured recent financings, addressed debt obligations and framed its exploration of strategic alternatives. Notifications like Form 12b-25 describe timing of periodic reports when delays occur.
On Stock Titan, KALA filings are updated in near real time as they appear on EDGAR. AI-powered summaries help interpret lengthy 10-K and 10-Q reports, breaking down key sections on clinical programs, cash runway, going-concern language and risk disclosures. For Form 4 and other insider-related filings, users can quickly see reported insider transactions in KALA stock. This combination of raw filings and AI-generated explanations allows readers to understand what each document means for KALA’s business, capital structure and potential strategic direction without having to parse every page manually.
KALA BIO has scheduled its next annual meeting of stockholders for January 30, 2026, and set December 27, 2025 as the deadline for shareholder proposals and director nominations under its bylaws and SEC Rule 14a-8.
The company reiterates financing arrangements with CEO David Lazar, including a $375,000 convertible loan and a private placement of preferred stock for aggregate gross proceeds of up to $6.0 million, of which $1.8 million has been received from the sale of 900,000 Series AA preferred shares at $2.00 per share.
Lazar has contracted to sell his rights and obligations to purchase the Series AAA preferred shares, and related purchase agreement rights, to unaffiliated investor AK Holdings Group Inc., while retaining his Series AA preferred shares and the convertible loan. A principal of AK Holdings has been engaged as a consultant to help the company identify and consummate a strategic alternative transaction, which, along with the potential Series AAA closing and related stockholder approvals, is subject to the uncertainties highlighted in the company’s forward-looking statements.
KALA BIO, Inc. disclosed that Chief Executive Officer and director David E. Lazar entered into a securities purchase agreement to invest in the company through convertible preferred stock. On November 24, 2025, he acquired 900,000 shares of Series AA Convertible Non-Redeemable Preferred Stock at $2.00 per share, for a total of $1,800,0002,100,000 shares of Series AAA Convertible Non-Redeemable Preferred Stock at $2.00 per share, for an additional $4,200,000.
Each share of Series AA Preferred is convertible into 55 shares of common stock and each Series AAA share into 420 shares, in both cases subject to ownership limits. None of the preferred shares can be converted until stockholders approve an increase in authorized capital and the conversion terms in line with Nasdaq listing rules. The Series AA Preferred Stock is perpetual and has no expiration date, and Lazar reports no common stock currently beneficially owned.
KALA BIO, Inc. (KALA) disclosed an initial ownership report for its Chief Executive Officer and director, David E. Lazar. This Form 3 shows that he beneficially owns no shares of KALA common stock as of the reported event date of 11/24/2025. The filing also indicates there are no derivative securities, such as options or warrants, reported as beneficially owned. This is an administrative disclosure required for insiders when they first become subject to reporting rules.
KALA BIO, Inc. reports that lender Oxford Finance previously declared an event of default under its loan, swept substantially all company cash and prompted termination of nearly all employees before later pausing foreclosure. To stabilize its position, KALA entered a Convertible Loan Agreement for
The second closing for 2,100,000 Series AAA shares at
KALA BIO’s Q3 2025 report shows a sharp deterioration in its business and financial position. The company’s CHASE Phase 2b trial of KPI-012 for persistent corneal epithelial defect failed to meet its primary and key secondary endpoints, and management decided to cease development of KPI-012 and its MSC-S platform.
To preserve cash, KALA approved a workforce reduction of about 19 employees, or roughly 51%. Cash and cash equivalents fell to $21,096 thousand at September 30, 2025 from $51,181 thousand at December 31, 2024, while current debt rose, driving current liabilities above total assets and resulting in stockholders’ deficit of $8,665 thousand. The company reported a Q3 2025 net loss of $7,564 thousand, narrower than the prior-year quarter mainly due to a $4,833 thousand non-cash gain from remeasuring contingent consideration.
On September 29, 2025, lender Oxford Finance declared a material adverse change default under KALA’s Loan and Security Agreement and accelerated $29.1 million of obligations. In October, Oxford swept substantially all of KALA’s cash and moved toward foreclosure before partially pausing. KALA subsequently obtained a $375 thousand 15% convertible loan from an individual investor solely to finalize a potential additional financing and to prepare this filing. Management concludes there is substantial doubt about KALA’s ability to continue as a going concern, and notes that bankruptcy proceedings could leave little or no recovery for stockholders.
KALA BIO filed a Form 12b-25, notifying a delay in its Form 10-Q for the quarter ended September 30, 2025, citing that timely filing was not possible without unreasonable effort or expense. The company states it will file no later than the fifth calendar day after the due date.
The delay follows a default under its Loan and Security Agreement with Oxford Finance, after which Oxford declared all obligations immediately due, swept substantially all cash, and indicated plans to foreclose on assets. On October 19, the board terminated all remaining employees not required for foreclosure activities, which hindered preparation of the 10-Q.
On November 3, Oxford paused foreclosure and permitted use of $125,000 from swept funds to negotiate financing and begin 10-Q work. On November 9, KALA entered a Convertible Loan Agreement with an individual investor for up to $375,000, a portion of which may be used to prepare and file the 10-Q.
KALA BIO reported it received a Nasdaq deficiency notice for failing to meet the Nasdaq Capital Market’s market value of listed securities requirement. The company’s market value was below $35 million for 30 consecutive business days, triggering noncompliance with Listing Rule 5550(b)(2).
Nasdaq granted a 180‑day cure period until May 11, 2026. Compliance is regained if the market value closes at $35 million or more for at least 10 consecutive business days before the deadline. The filing also notes KALA BIO does not meet the alternative continued listing standards of stockholders’ equity of at least $2.5 million or net income from continuing operations of at least $500,000 in the relevant periods.
If compliance is not restored by the deadline, the company may receive a delisting notice and could appeal to a Nasdaq Listing Qualifications Panel. KALA BIO plans to monitor its market value and may consider options to regain compliance.
KALA Bio entered a Convertible Loan Agreement with an individual investor for up to $375,000, split into two fundings of $187,500 each targeted for November 10 and November 12, 2025. The loan carries 15% simple annual interest, payable monthly starting in December 2025, and matures one year after funding, with a potential one-year extension under specified conditions.
The lender may convert outstanding amounts into common stock at prices set in the agreement, and, ahead of an M&A transaction or underwritten public offering, may elect to convert into the most senior class of shares or require cash repayment. KALA can prepay anytime with three business days’ notice, during which the lender may choose to convert.
Proceeds are limited to negotiating a further investment with the lender and preparing the Form 10‑Q for the quarter ended September 30, 2025; KALA agreed to exclusivity through November 17, 2025. Oxford Finance previously swept substantially all cash and signaled foreclosure, then paused and allowed $125,000 to fund this process; foreclosure may resume absent additional financing.
KALA BIO (KALA) disclosed an insider transaction by a director. On 10/23/2025, the reporting person sold 154,894 shares of common stock at a $0.81 weighted average price, with individual trades executed between $0.78 and $0.85. Following the sale, the reporting person beneficially owns 103,540 shares, reported as unvested RSUs, held directly.
The filing notes the price is a weighted average and that detailed trade breakdowns within the stated range are available upon request.
KALA BIO (KALA) reported insider transactions by its Chief Financial Officer, Mary Reumuth. On 10/22/2025, she sold 32,230 shares of common stock at a weighted average price of $0.83, with individual trades ranging from $0.82 to $0.84. On 10/23/2025, she sold an additional 967 shares at $0.82.
Following these transactions, her reported beneficial ownership was 29,873 shares after the first sale and 28,906 shares after the second sale, held directly. A footnote states the 28,906 balance includes unvested RSUs.