---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-094125"
form_type: "8-K"
ticker: "KALA"
cik: "0001479419"
company_name: "KALA BIO, Inc."
filed_at: "2025-09-29T23:59:59+00:00"
generated_at: "2026-05-17T05:23:44.143338+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# KALA BIO Phase 2b trial fails; KPI-012 development halted; workforce cut 51%

## Summary
- CHASE Phase 2b trial of KPI-012 for PCED did not meet primary endpoint of complete healing at Week 8; secondary endpoints also failed.
- Company ceases development of KPI-012 and MSC-S platform; will explore strategic options and engage with secured lender.
- Board approved workforce reduction of ~19 employees (~51%); expected to complete in Q4 2025.
- KPI-012 was well-tolerated with no treatment-related serious adverse events observed.

## SEC filing metadata
- accession: 0001104659-25-094125
- form_type: 8-K
- ticker: KALA
- cik: 0001479419
- company_name: KALA BIO, Inc.
- filed_at: 2025-09-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1479419/000110465925094125/0001104659-25-094125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1479419/000110465925094125/tm2527340d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-094125
- JSON: https://secwatch.observer/filing/0001104659-25-094125.json
- Plain text: https://secwatch.observer/filing/0001104659-25-094125.txt

## Key facts
- Restructurings & Charges
  KALA BIO, Inc. announced a restructuring affecting the Company's workforce (approximately 19 employees, or approximately 51%).
  - Type: restructuring
  - Affected area: the Company's workforce
  - Headcount: approximately 19 employees, or approximately 51%
  source text: On September 28, 2025, the board of directors (the “Board”) of KALA BIO, Inc. (the “Company”) determined to cease development of KPI-012 and its mesenchymal stem cell secretome platform and to take steps to preserve cash as the Company explores its strategic options. In connection with such decisions, the Board approved a reduction in the Company’s workforce by approximately 19 employees, or approximately 51% (the “Reduction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1479419/000110465925094125/0001104659-25-094125-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.