Markets

‘KALA BIO, incorporated Reports Third Quarter 2023 Financial Results and Provides Corporate Update\n\nArlington, Mass., November 13, 2023 – KALA BIO, incorporated (NASDAQ:KALA), a clinical-stage biopharmaceutical company, has announced its financial results for the third quarter ended September 30, 2023, and provided a corporate update.\n\nThe company’s CEO, Mark Iwicki, stated, “We are pleased with our progress in executing our corporate priorities. Our CHASE Phase 2b trial of KPI-012 for Persistent Corneal Epithelial Defect (PCED) is actively enrolling patients, and we expect to announce topline safety and efficacy data in the second half of 2024.”\n\nKALA’s MSC-S technology has the potential to address the impaired corneal healing that underlies multiple severe ocular diseases. The company is evaluating the potential of this technology for multiple rare, front

‘KALA BIO, incorporated Reports Third Quarter 2023 Financial Results and Provides Corporate Update\n\nArlington, Mass., November 13, 2023 – KALA BIO, incorporated (NASDAQ:KALA), a clinical-stage biopharmaceutical company, has announced its financial results for the third quarter ended September 30, 2023, and provided a corporate update.\n\nThe company’s CEO, Mark Iwicki, stated, “We are pleased with our progress in executing our corporate priorities. Our CHASE Phase 2b trial of KPI-012 for Persistent Corneal Epithelial Defect (PCED) is actively enrolling patients, and we expect to announce topline safety and efficacy data in the second half of 2024.”\n\nKALA’s MSC-S technology has the potential to address the impaired corneal healing that underlies multiple severe ocular diseases. The company is evaluating the potential of this technology for multiple rare, front- and back-of-the-eye diseases.\n\nThe CHASE Phase 2b clinical trial is currently enrolling patients to evaluate KPI-012 for the treatment of PCED, a persistent, non-healing corneal defect. KALA expects to announce topline data in the second half of 2024. If the results are positive, the trial could serve as the first of two pivotal trials to support the submission of a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for KPI-012.\n\nKALA is also exploring the potential development of KPI-012 for additional rare, front-of-the-eye diseases, such as Limbal Stem Cell Deficiency and other corneal diseases that threaten vision. Additionally, the company has initiated preclinical studies for its KPI-014 program, which aims to evaluate the utility of its MSC-S platform for inherited retinal degenerative diseases.\n\nIn terms of financials, as of September 30, 2023, KALA had cash and cash equivalents of $56.1 million. This decrease reflects cash used in operations and a milestone payment to the former Combangio, incorporated shareholders, as well as a prepayment of a loan agreement. Based on its current plans, KALA anticipates that its cash resources, together with anticipated remaining funding under the CIRM award, will enable it to fund operations into the second quarter of 2025.’$KALA2023-12-27T17:13:42.521Z

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button