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Mar 31, 2023
Kala Bio Q1 2023 Earnings Report
Kala Pharmaceuticals reported financial results for Q1 2023 and provided a corporate update.
Key Takeaways
Kala Pharmaceuticals reported a net loss of $14.5 million for the first quarter of 2023, with no product revenues due to the sale of its commercial portfolio. The company's cash and cash equivalents totaled $63.6 million. Kala is focused on advancing KPI-012 for PCED treatment and received a $15 million grant from CIRM to support this program.
Announced positive data from initial safety portion of CHASE Phase 2b clinical trial of KPI-012.
Received FDA Fast Track designation for KPI-012 for the treatment of PCED.
Strengthened clinical R&D team with appointment of Dr. Francis Mah as Chief Medical Advisor.
Awarded $15 million grant from CIRM to support the KPI-012 PCED program.
Kala Bio
Kala Bio
Forward Guidance
Kala anticipates that its cash resources as of March 31, 2023, together with anticipated funding under the CIRM award, will enable it to fund operations into the first quarter of 2025.