KALA BIO raises $10.75M in private placement; cash runway into Q1 2026

KALA BIO, Inc.

Gross proceeds of $10.75M from 1,340,603 common shares at $6.44 and 3,286 Series I preferred shares at $644.
Series I preferred convertible into 100 common shares per share; beneficial ownership limitation of 9.99% (up to 19.99%).
Cash resources, including proceeds, expected to fund operations into Q1 2026; net proceeds to advance KPI-012 for PCED.
Phase 2b CHASE trial enrollment over 80% complete; topline data expected Q2 2025.
Participation from new and existing investors including SR One, Cormorant, Woodline.

item 1.01 item 5.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

KALA BIO, Inc.: Filed Certificate of Designations establishing Series I Convertible Non-Redeemable Preferred Stock (effective 2024-12-30).

Change: charter amendment
Effective: 2024-12-30

Exact text from the filing

On December 30, 2024 (the “Filing Date”), the Company filed a Certificate of Designations, Preferences and Rights of Series I Convertible Non-Redeemable Preferred Stock (the “Certificate of Designations”) with the Secretary of State of the State of Delaware with respect to the Series I Preferred Stock.

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KALA BIO, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-132308

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