KALA BIO Q3 2023 net loss $8.7M; CHASE Phase 2b enrollment ongoing, topline data 2H 2024

KALA BIO, Inc.

2023-Q3 EPS reported -$14.36

Net loss $8.7M ($3.41 per share) vs net income $29.1M in Q3 2022 due to prior year gain on sale of commercial business.
Cash and equivalents $56.1M at Sep 30, 2023; together with CIRM award funds expected to fuel operations into Q2 2025.
CHASE Phase 2b trial of KPI-012 for PCED actively enrolling; topline safety and efficacy data targeted for 2H 2024.
R&D expenses $5.6M (up $0.2M YoY); SG&A expenses $5.0M (down $4.5M YoY) after sale of commercial portfolio.
No product revenues in Q3 2023; preclinical evaluation of KPI-014 for inherited retinal degenerative diseases initiated.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KALA BIO, Inc. reported financial results for the third quarter ended September 30, 2023.

Period: the third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 13, 2023, KALA BIO, Inc. announced its financial results for the quarter ended September 30, 2023 and provided a general business update. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001558370-23-018694

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