Kala Pharmaceuticals(US:KALA)2025-05-14 12:01Financial Performance - As of March 31, 2025, KALA BIO reported cash and cash equivalents of $42.2 million, down from $51.2 million as of December 31, 2024, reflecting cash used in operations[7]. - KALA's net loss for the first quarter of 2025 was $8.9 million, or $1.41 per share, compared to a net loss of $11.8 million, or $4.20 per share, for the same period in 2024[11]. - KALA's total operating expenses for Q1 2025 were $10.7 million, compared to $11.9 million for the same period in 2024[11]. - KALA's total stockholders' equity decreased to $5.7 million as of March 31, 2025, from $12.3 million as of December 31, 2024[14]. Expenses - General and administrative expenses decreased to $4.6 million in Q1 2025 from $5.4 million in Q1 2024, primarily due to reduced employee-related costs[11]. - Research and development expenses for Q1 2025 were $6.1 million, down from $6.4 million in Q1 2024, mainly due to decreased medical affairs-related costs for KPI-012[11]. Clinical Trials and Development - KALA is currently enrolling patients in the Phase 2b CHASE trial for KPI-012, targeting topline data in the third quarter of 2025[5]. - The company activated clinical trial sites in Latin America for the CHASE trial, contingent on positive results[5]. Market Opportunity - KPI-012 addresses Persistent Corneal Epithelial Defect (PCED), which has an estimated incidence of approximately 100,000 patients in the U.S., representing a significant market opportunity[5]. - KALA is exploring the potential of KPI-012 for additional rare ocular diseases, including Limbal Stem Cell Deficiency (LSCD), which also has an estimated incidence of 100,000 patients in the U.S.[5].