KALA BIO Q2 net loss $10.4M; cash $59.2M; CHASE trial topline data expected Q2 2024

KALA BIO, Inc.

2023-Q2 EPS reported -$11.15

Net loss of $10.4M ($4.36/share) vs $28.1M ($18.92/share) in Q2 2022; operating loss $9.6M.
Cash, equivalents and short-term investments $59.2M as of June 30, 2023; CIRM $15M grant extends runway into Q2 2025.
CHASE Phase 2b trial for KPI-012 in PCED actively enrolling; topline data targeted for Q2 2024.
No product revenue after sale of commercial portfolio to Alcon in July 2022; SG&A fell to $5.0M from $22.7M.
Rebranded to KALA BIO from Kala Pharmaceuticals, reflecting focus on biologics for rare ophthalmic diseases.

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