Core Insights - KALA BIO, Inc. has entered into a $6 million securities purchase agreement with private investor David E. Lazar for non-voting convertible preferred stock, with an initial investment of $1.8 million received [1][3] - Following the investment, David E. Lazar has been appointed as the new Chief Executive Officer and Chairman of the Board, while former CEO Todd Bazemore remains on the Board [1][3] - KALA plans to continue the evaluation and redevelopment of its product candidates, particularly KPI-012, despite previous setbacks in clinical trials [2][3] Investment and Financials - The investment agreement includes a second closing contingent on stockholder approval, which is expected in the first quarter of 2026, involving an additional $4.2 million investment [3] - KALA has issued new shares of non-voting convertible Series AA preferred stock in exchange for the initial investment [3] Clinical Development - KALA's KPI-012 did not meet the primary endpoint in its Phase 2b clinical trial for treating persistent corneal epithelial defect, leading to a temporary halt in its development [2] - The company aims to explore strategic options and continue evaluating its therapeutic candidates for potential standalone uses or in combination with other products [2] Company Overview - KALA BIO, Inc. focuses on innovative therapies for rare and severe eye diseases, utilizing its proprietary mesenchymal stem cell secretome platform [4] - KPI-012 has received Orphan Drug and Fast Track designations from the FDA for treating persistent corneal epithelial defect [4]