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Dec 31, 2022
Kala Bio Q4 2022 Earnings Report
Kala Bio reported financial results for the fourth quarter and full year ended December 31, 2022 and provided a corporate update.
Key Takeaways
Kala Pharmaceuticals reported a net loss of $12.8 million for Q4 2022, with no product revenues recognized following the sale of its commercial portfolio to Alcon. The company closed a $31.0 million private placement financing in December 2022 and is advancing its KPI-012 program for persistent corneal epithelial defect (PCED).
Enrolled first patient in CHASE Phase 2b clinical trial evaluating KPI-012 for PCED with top-line data targeted for 1Q 2024.
Closed $31.0 million private placement financing, extending cash runway into 1Q 2025.
Net loss for the quarter was $12.8 million, or $7.97 per share.
Cash and cash equivalents totaled $70.5 million as of December 31, 2022.
Kala Bio
Kala Bio
Forward Guidance
Kala anticipates that its cash resources as of December 31, 2022 will enable it to fund operations into the first quarter of 2025.