Kala Pharmaceuticals(US:KALA)2025-03-31 12:01Financial Performance - The net loss for Q4 2024 was $8.2 million, or $1.74 per share, compared to a net loss of $8.6 million, or $3.18 per share, for the same period in 2023[12]. - For the full year 2024, net loss was $38.5 million, or $10.15 per share, compared to a net loss of $42.2 million, or $17.35 per share, for 2023[15]. - Total costs and expenses for Q4 2024 were $9,459 million, a slight decrease from $9,619 million in Q4 2023[20]. - Total costs and expenses for the year ended December 31, 2024 were $40,983 million, compared to $39,663 million for the year ended December 31, 2023, an increase of 3.3%[20]. - Net loss for the year ended December 31, 2024 was $38,511 million, an improvement from a net loss of $42,199 million in the previous year, reflecting a decrease of 8.0%[20]. Cash and Financing - The company raised $10.75 million in a private placement financing, strengthening its balance sheet and extending cash runway into Q1 2026[1][2][7]. - As of December 31, 2024, KALA had cash and cash equivalents of $51.2 million, up from $49.2 million as of September 30, 2024[8]. - KALA's total stockholders' equity increased to $12.3 million as of December 31, 2024, compared to $7.5 million in 2023[18]. Expenses - General and administrative (G&A) expenses for Q4 2024 were $4.2 million, a decrease from $4.6 million in Q4 2023[11]. - Research and development (R&D) expenses for Q4 2024 increased to $5.3 million from $4.7 million in Q4 2023, primarily due to KPI-012 development costs[11]. - Research and development expenses increased to $5,258 million in Q4 2024 from $4,718 million in Q4 2023, representing an increase of 11.5%[20]. Clinical Trials and Product Development - KALA BIO has randomized 87 patients to date in the Phase 2b CHASE trial of KPI-012 for Persistent Corneal Epithelial Defect (PCED), with topline data expected in Q3 2025[1][2]. - The company plans to report topline clinical data in Q3 2025 and believes the CHASE trial could serve as the first of two pivotal studies for a Biologics License Application (BLA) submission to the FDA[10][16]. - KALA is exploring KPI-012 for additional rare front-of-the-eye diseases, including Limbal Stem Cell Deficiency (LSCD), which has an estimated incidence of 100,000 patients in the U.S.[10]. Income and Shares - Total other income for Q4 2024 was $1,284 million, an increase from $992 million in Q4 2023, reflecting a growth of 29.4%[20]. - Interest income decreased to $478 million in Q4 2024 from $610 million in Q4 2023, a decline of 21.6%[20]. - Grant income increased to $2,198 million in Q4 2024, up from $1,855 million in Q4 2023, representing a growth of 18.5%[20]. - Weighted average shares outstanding for basic and diluted shares increased to 4,694,611 in Q4 2024 from 2,712,475 in Q4 2023[20].