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Jun 30, 2023
Kala Bio Q2 2023 Earnings Report
KALA BIO reported financial results for the second quarter ended June 30, 2023 and provided a corporate update.
Key Takeaways
KALA BIO reported a net loss of $10.4 million for the second quarter of 2023. The company's cash, cash equivalents, and short-term investments totaled $59.2 million as of June 30, 2023. A $15 million grant was awarded by the California Institute for Regenerative Medicine (CIRM) to support the KPI-012 program.
Actively enrolling patients in CHASE Phase 2b clinical trial of KPI-012 for the treatment of PCED with topline data targeted for 2Q 2024.
Combangio, Inc., a wholly owned subsidiary of KALA, was awarded a $15 million grant by California Institute for Regenerative Medicine (CIRM) to support ongoing KPI-012 program for the treatment of PCED.
KALA BIO rebranded to reflect focus on advancing biologics for the treatment of rare, serious ophthalmic diseases.
As of June 30, 2023, KALA BIO had $59.2 million in cash, cash equivalents and short-term investments; together with $15.0 million CIRM award expected to fund operations into 2Q 2025.
Forward Guidance
KALA anticipates that its cash resources as of June 30, 2023, together with anticipated funding under the CIRM award, will enable it to fund operations into the second quarter of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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