KALA BIO raises $12.5M in private placement; extends cash runway into Q4 2025

KALA BIO, Inc.

Gross proceeds of ~$12.5M from sale of 1,197,314 common shares at $5.85 and 9,393 Series H preferred shares at $585.00.
Series H preferred convertible into 100 common shares each, subject to 9.99% beneficial ownership limitation.
Cash runway extended into Q4 2025, including $9.1M remaining from CIRM award.
Proceeds to fund clinical development of KPI-012 for persistent corneal epithelial defect.
Private placement led by SR One with ADAR1 Capital and another investor; expected close June 28, 2024.

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