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Kiora Pharmaceuticals CFO Melissa Tosca reported a routine tax-related share disposition. On April 1, 2026, 929 shares of Kiora Pharmaceuticals common stock were delivered at $1.95 per share to pay an exercise price or tax liability. After this tax-withholding disposition, Tosca directly holds 26,975 shares of common stock, indicating the transaction affected only a small portion of her position and was not an open-market sale.
Kiora Pharmaceuticals Chief Development Officer Eric Joseph Daniels reported a tax-related share disposition. On the transaction date, 929 shares of Kiora Pharmaceuticals common stock were withheld at $1.95 per share to cover tax obligations. After this non-open-market tax-withholding disposition, Daniels directly held 31,741 shares of common stock.
Kiora Pharmaceuticals President and CEO Brian M. Strem reported a tax-related share disposition. On April 1, 2026, he transferred 1,906 shares of Common Stock at $1.95 per share to cover taxes by delivering shares instead of cash. After this tax-withholding disposition, he directly holds 60,692 shares of Kiora common stock. This was not an open-market sale or purchase but a routine mechanism tied to equity compensation.
Kiora Pharmaceuticals announced that Chief Development Officer Eric J. Daniels, M.D., MBA will resign effective April 17, 2026 to pursue another opportunity. The company stated his departure is not due to any disagreement over operations, policies, or practices and has begun a search for his successor.
Kiora emphasized continued progress in its retinal disease pipeline. In the ABACUS-2 Phase 2 trial of KIO-301, a planned safety review allowed enrollment of remaining patients in the 50µg dose cohort and cleared initiation of the 100µg cohort. In the KLARITY Phase 2 trial of KIO-104, all planned safety checkpoints have been cleared and patient enrollment is ongoing.
Kiora Pharmaceuticals reported a net loss of $10.8 million for 2025, compared with net income of $3.6 million in 2024, mainly because 2024 included $16.0 million of collaboration revenue and 2025 recorded a $4.6 million in-process R&D impairment related to KIO-104.
Revenue was zero in 2025, while operating expenses rose as R&D increased to $10.8 million with two Phase 2 trials underway and G&A reached $5.7 million. Kiora ended 2025 with $17.1 million in cash, cash equivalents and short-term investments plus $3.5 million in receivables and projects its cash runway into late 2027.
Pipeline progress included advancing KIO-301 and KIO-104 into active Phase 2 studies in retinal diseases and signing an option agreement with Senju Pharmaceutical with potential value of up to $110 million plus royalties, alongside continued work on the KIO-300 ion-channel modulator platform.
Kiora Pharmaceuticals, Inc. is a clinical-stage specialty pharmaceutical company focused on therapies for retinal diseases. Its lead candidate, KIO-301, is a small-molecule “photoswitch” being developed for late-stage retinitis pigmentosa and other inherited retinal dystrophies. A Phase 1b trial showed safety and vision-related improvements, and a 36‑patient Phase 2 ABACUS‑2 trial in RP is enrolling under a global co-development agreement with Théa Open Innovation, which funds all KIO‑301 R&D.
The company is also advancing KIO-104, an intravitreal DHODH inhibitor for retinal inflammation such as diabetic macular edema and posterior non‑infectious uveitis, with a Phase 2 KLARITY trial dosing patients. A topical DHODH inhibitor, KIO‑101, is being positioned for partnering in ocular manifestations of autoimmune diseases. Kiora reported a $10.8 million net loss for the year ended December 31, 2025, versus net income of $3.6 million in 2024, and held $17.1 million in cash and short-term investments, which it expects to fund operations into late 2027. As of March 21, 2026, there were 3,950,628 shares of common stock outstanding.
Kiora Pharmaceuticals Chief Development Officer Eric Joseph Daniels reported new equity awards. He received a stock option for 13,067 shares of common stock at an exercise price of $1.98 per share, and a grant of 6,533 shares of restricted stock, both under the 2024 Equity Incentive Plan.
The restricted stock vests in three equal installments on April 1, 2027, April 1, 2028, and April 1, 2029, subject to continued service. The option vests one-third on April 1, 2027, with the remaining balance vesting monthly over the following two years and expiring on April 1, 2036. After the grants, Daniels directly owns 32,670 common shares.
Strem Brian M. reported acquisition or exercise transactions in this Form 4 filing.
Kiora Pharmaceuticals President and CEO Brian M. Strem received new equity compensation awards. He was granted an option to buy 33,467 shares of Common Stock at $1.98 per share and 16,733 shares of restricted Common Stock, both at no cash cost to him.
The restricted stock vests in three equal installments on April 1, 2027, April 1, 2028, and April 1, 2029, subject to continued service. The option vests one-third on April 1, 2027, with the remaining balance vesting monthly over two years and expiring on April 1, 2036. Following these grants, he holds 62,598 Common shares directly.
Kiora Pharmaceuticals CFO Melissa Tosca received new equity awards as part of her compensation. She was granted an option to buy 13,067 shares of Common Stock at an exercise price of $1.98 per share, along with 6,533 shares of restricted Common Stock.
The restricted stock will vest in three equal installments on April 1, 2027, April 1, 2028, and April 1, 2029, contingent on continued service. The stock option vests one-third on April 1, 2027, with the remaining two-thirds vesting monthly over the following two years, and expires on April 1, 2036. After these grants, Tosca directly holds 27,904 Common shares and 13,067 option shares.
Kiora Pharmaceuticals Chief Development Officer Eric Joseph Daniels reported a small tax-related share disposition. On March 3, 2026, he transferred 238 shares of common stock at $2.02 per share to satisfy tax withholding obligations. After this transaction, he directly held 26,137 common shares.