KALA BIO, Inc. SEC Filings

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.

KALA BIO (KALA) reported an insider stock transaction on a Form 4. A director sold 47,768 shares of common stock on 10/22/2025 at a weighted average price of $0.83, with individual trades ranging from $0.82 to $0.85.

After the sale, the reporting person beneficially owned 35,932 shares directly, which includes 35,732 unvested RSUs, and 1 share indirectly held by a son.

KALA BIO (KALA) reported a Form 4 showing an officer transaction. On 10/22/2025, an officer sold 46,748 shares of common stock at a weighted average price of $0.83, with trade prices ranging from $0.82 to $0.85. Following the sale, 35,952 shares were listed as beneficially owned. A footnote states this figure includes 35,952 unvested RSUs. The reporting person’s role is noted as Head of Research and Development and Chief Medical Officer, and the ownership form is Direct.

KALA BIO (KALA) reported an insider transaction by its Chief Business Officer. On 10/22/2025, the officer sold 20,806 shares of common stock at a $0.83 weighted average price, with trades ranging from $0.82 to $0.84. Following the sale, the officer beneficially owned 41,760 shares directly.

The reported balance includes 28,878 unvested RSUs, which are awards that may settle in shares as they vest. The filing lists direct ownership and does not indicate joint or group filing.

Baker Bros. Advisors LP and affiliated filers report beneficial ownership of 744,759 shares of KALA BIO, Inc. common stock, representing 9.99% of the outstanding shares based on a 7,021,040 share base as of August 7, 2025 plus convertible preferred shares. The holdings include 434,200 shares issuable upon conversion of 4,342 Series E preferred shares; conversion of convertible preferred is subject to a 9.99% beneficial ownership limitation (increaseable to 19.99% with 61 days' notice). The filers state the securities are held in the ordinary course of business and not for the purpose of changing or influencing control; prior nomination rights under a purchase agreement were reported as no longer held as of October 2, 2025.

Baker Bros. reporting persons filed a Form 4 disclosing multiple sales of KALA BIO, Inc. (KALA) common stock on 09/30/2025 and 10/01/2025. The filing shows four separate dispositions: 21,376 and 195,425 shares on 09/30/2025 at a weighted average price of $1.5959, and 50,640 and 462,967 shares on 10/01/2025 at a weighted average price of $1.3838. After each reported transaction, the filings list the number of shares beneficially owned by the reporting entities and individuals on an indirect basis. Footnotes state the trading occurred through the Funds (667, L.P. and Baker Brothers Life Sciences, L.P.) across price ranges of $1.50–$1.84 and $1.27–$1.48, and clarify the Adviser and certain partners disclaim beneficial ownership except for pecuniary interest.

KALA BIO, Inc. filed an amended report to update details on previously announced cost-cutting measures and leadership retention plans. The board had decided on September 28, 2025 to cease development of KPI-012 and its mesenchymal stem cell secretome platform and to reduce the workforce by approximately 19 employees, representing about 51% of staff.

The company now expects to incur about $0.4 million in costs related to the workforce reduction, mainly for severance and employee benefits, largely in the fourth quarter of 2025. On October 2, 2025, KALA BIO also entered into retention agreements with its President and CEO, CFO, and Head of R&D/CMO, providing retention payments of $183,750, $136,250, and $145,000, respectively, which must be repaid if they leave voluntarily or are terminated for cause before December 31, 2025.

KALA BIO, Inc. reported that its lender, Oxford Finance LLC, has delivered a written notice declaring an event of default under the companies’ Loan and Security Agreement. The notice states that the event of default is based on a contractual “Material Adverse Change” provision and alleges that additional defaults may exist.

As a result, Oxford has declared all obligations under the loan immediately due and payable and has started charging interest at the contractual default rate. The company reports that obligations accelerated and declared payable under the loan total $29.1 million, plus additional interest at the default rate and any expenses owed under the agreement.

KALA BIO, Inc. reported that its CHASE Phase 2b clinical trial of KPI-012 for treating persistent corneal epithelial defect did not meet its primary endpoint of complete healing and also failed to show statistically significant benefits on key secondary measures, with no meaningful difference versus placebo. Based on these results, the company plans to cease development of KPI-012 and its mesenchymal stem cell secretome platform. To preserve cash while it evaluates strategic options, KALA’s board approved a workforce reduction of approximately 19 employees, or about 51%, expected to be substantially completed in the fourth quarter of 2025. The company has not yet determined the related accounting charges and plans to amend this report after it estimates them. KALA also plans to discuss its situation with its secured lender as part of its strategic review.