KALA BIO Announces Closing of $10 Million Registered Direct Offering of Common Stock Priced At-The-Market Under Nasdaq Rules

Group 1 - KALA BIO, Inc. announced the closing of a registered direct offering of 10,000,000 shares of common stock at a price of $1.00 per share, generating approximately $10 million in gross proceeds [1][2] - The company intends to use the net proceeds from the offering to repay certain indebtedness and for general corporate purposes [2] - H.C. Wainwright & Co. acted as the exclusive placement agent for the offering [1] Group 2 - The offering was conducted under a "shelf" registration statement filed with the SEC, which was declared effective on May 11, 2023 [3] - KALA is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases, utilizing its proprietary mesenchymal stem cell secretome platform [5] - The lead product candidate, KPI-012, has received Orphan Drug and Fast Track designations from the FDA for treating persistent corneal epithelial defect [5]