KALA BIO reports Q2 net loss of $9.6M, cash $54.2M; Phase 2b data due Q1 2025

KALA BIO, Inc.

2024-Q2 EPS reported -$7.32

Net loss of $9.6M ($3.16 per share) for Q2 2024 vs. $10.4M ($4.36 per share) a year ago.
Cash and equivalents $54.2M at June 30, 2024; with CIRM award, runway expected into Q4 2025.
Closed $12.5M private placement led by SR One; net proceeds of $12.3M.
Topline results from Phase 2b CHASE trial of KPI-012 for PCED targeted in Q1 2025.
R&D expenses rose to $5.3M from $4.3M on higher KPI-012 development costs.

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