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Dec 30, 2024
Kala Bio Q4 2024 Earnings Report
Kala Bio reported its fourth quarter and full year 2024 financial results.
Key Takeaways
KALA BIO reported a net loss of $8.2 million for Q4 2024, an improvement from $8.6 million in Q4 2023. The company also announced a private placement financing of $10.75 million, extending its cash runway into Q1 2026.
Randomized 87 patients to date in Phase 2b CHASE trial of KPI-012 in Persistent Corneal Epithelial Defect (PCED).
Continuing enrollment into 2Q25; currently targeting topline data in 3Q25.
Raised $10.75 million in private placement financing with participation from SR One, Cormorant Asset Management, Woodline Partners and another life sciences-focused investor.
Cash resources of $51.2 million as of December 31, 2024, expected to fund operations into 1Q 2026.
Forward Guidance
KALA BIO anticipates continued enrollment in the CHASE trial into Q2 2025, with topline data expected in Q3 2025. The company believes the CHASE trial could serve as the first of two pivotal studies for a BLA submission.
Positive Outlook
- Continuing enrollment into 2Q25 for the CHASE trial.
- Targeting topline data in 3Q25 for the CHASE trial.
- CHASE trial could potentially serve as the first of two pivotal studies required for BLA submission.
- Cash resources expected to fund operations into 1Q 2026.
- Exploring potential of KPI-012 for additional rare, front-of-the-eye diseases like Limbal Stem Cell Deficiency (LSCD).
Challenges Ahead
- No specific negative forward guidance was provided in the report, but general risks associated with clinical trials and regulatory approvals are mentioned.
- Uncertainties inherent in the initiation and conduct of preclinical studies and clinical trials.
- Uncertainties regarding availability and timing of data from clinical trials.
Historical Earnings Impact
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