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KALA BIO Reports First Quarter 2025 Financial Results and Provides Corporate Update

Core Insights - KALA BIO, Inc. is advancing the development of KPI-012, targeting topline results from the Phase 2b CHASE trial in Q3 2025, which could support a Biologics License Application (BLA) submission if successful [2][8] - The company has cash resources of $42.2 million as of March 31, 2025, expected to fund operations into Q1 2026 [9] Company Overview - KALA BIO is a clinical-stage biopharmaceutical company focused on innovative therapies for rare and severe ocular diseases, utilizing its proprietary mesenchymal stem cell secretome (MSC-S) platform [11] - KPI-012 is the lead product candidate, designed to address impaired corneal healing associated with Persistent Corneal Epithelial Defect (PCED), which has an estimated incidence of 100,000 patients in the U.S. [5][11] Product Development - KPI-012 aims to correct impaired corneal healing through a multifactorial mechanism, potentially making it the first therapy to address all underlying causes of PCED [2][4] - The company is also exploring KPI-012 for Limbal Stem Cell Deficiency (LSCD), which has a similar estimated incidence of 100,000 patients in the U.S. [8] Financial Performance - For Q1 2025, KALA reported a net loss of $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 [13][19] - General and administrative expenses decreased to $4.6 million from $5.4 million year-over-year, while research and development expenses slightly decreased to $6.1 million from $6.4 million [13][19] Cash Position - As of March 31, 2025, KALA's cash and cash equivalents were $42.2 million, down from $51.2 million as of December 31, 2024, reflecting cash used in operations [9][16]