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Jun 30, 2022
Kala Bio Q2 2022 Earnings Report
Reported financial results for the second quarter and provided a corporate update.
Key Takeaways
Kala Pharmaceuticals reported a net loss of $28.1 million, or $0.38 per share, for the quarter ended June 30, 2022. Kala completed the sale of EYSUVIS and INVELTYS to Alcon Inc. for an upfront payment of $60 million. Kala plans to initiate a Phase 2/3 clinical trial of KPI-012 in PCED patients in the fourth quarter of 2022.
Completed the sale of EYSUVIS and INVELTYS to Alcon Inc. for $60M upfront.
Focused efforts on KPI-012 for rare and severe ocular diseases.
Planned initiation of Phase 2/3 clinical trial of KPI-012 for PCED in 4Q 2022.
Initiated preclinical studies researching MSC-S platform technology for retinal degenerative diseases.
Forward Guidance
Kala anticipates approximately a 50% reduction in non-GAAP operating expenses in the second half of 2022 as compared to the first half of 2022 and a 60-70% reduction in non-GAAP total operating expenses for the full year 2023 compared to the full year 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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