Kala Bio Q3 2021 Earnings Report
Key Takeaways
Kala Pharmaceuticals reported a net product revenue of $3.1 million for the third quarter of 2021. EYSUVIS prescriptions increased by 19% compared to the second quarter of 2021. The company also acquired Combangio, expanding its clinical-stage pipeline.
Net product revenues reached $3.1 million, with $1.83 million from EYSUVIS and $1.24 million from INVELTYS.
EYSUVIS prescriptions increased by 19% compared to the prior quarter.
Kala acquired Combangio, expanding its pipeline with KPI-012 for ocular surface diseases.
Cash and cash equivalents totaled $124.5 million as of September 30, 2021.
Kala Bio
Kala Bio
Kala Bio Revenue by Segment
Forward Guidance
Kala anticipates that its cash resources as of September 30, 2021, together with anticipated revenue from EYSUVIS and INVELTYS and certain cost containment measures, will enable it to fund its operations until the second quarter of 2023.
Positive Outlook
- Continued growth in EYSUVIS prescriptions.
- Expansion of formulary coverage for EYSUVIS.
- Advancement of pipeline programs, including rTKI and SEGRM.
- Planned submission of IND application for KPI-012.
- Potential initiation of Phase 2/3 trial for PCED in Q3 2022.
Challenges Ahead
- Continued weakness in the ocular surgery market from COVID-19.
- Removal of INVELTYS from the CVS/Caremark formulary coverage list.
- Uncertainty around the impact and duration of the COVID-19 pandemic on elective procedures, which includes ocular surgeries.
- Operating loss of $26.1 million for the quarter ended September 30, 2021.
- Net loss of $28.1 million for the quarter ended September 30, 2021.