Kala Bio Q1 2024 Earnings Report
Key Takeaways
Kala Bio reported a net loss of $11.8 million for the first quarter of 2024, with cash and cash equivalents totaling $48.5 million as of March 31, 2024. The company is focused on advancing its clinical program for KPI-012 in PCED and exploring its platform technology for other corneal and retinal diseases.
Patient enrollment is ongoing in the Phase 2b CHASE trial of KPI-012 for PCED, with topline data expected by year-end 2024.
Kala Bio is evaluating opportunities to expand KPI-012 development into other corneal diseases, including LSCD, and to explore KPI-014 in rare inherited retinal diseases.
Cash resources totaled $48.5 million as of March 31, 2024, expected to fund operations into 3Q 2025 with anticipated funding from the CIRM award.
First quarter R&D expenses increased to $6.4 million, driven by KPI-012 development costs.
Kala Bio
Kala Bio
Forward Guidance
Kala Bio anticipates that its cash resources as of March 31, 2024, together with anticipated funding under the CIRM award, will enable it to fund operations into the third quarter of 2025.