Why Is Eye Disease Focused Kala Bio Stock Plunging On Monday?

Core Points - Kala Bio Inc. has halted the development of its experimental treatment KPI-012 for persistent corneal epithelial defect (PCED) after the CHASE Phase 2b trial did not meet its primary endpoint of complete healing [2][4] - The trial also failed to achieve statistical significance for key secondary efficacy endpoints, showing no meaningful difference between the treatment and placebo arms [3] - Following the trial results, the company plans to cease development of KPI-012 and its mesenchymal stem cell secretome (MSC-S) platform, while evaluating strategic options and engaging with its secured lender [4] Financial Summary - As of June 30, Kala Bio had cash and cash equivalents of $31.9 million, which is expected to fund operations into the first quarter of 2026 [5] - The company's stock price has dropped significantly, down 91.44% to $1.63 [5]