Mizuho downgraded Kala Bio (KALA) to Neutral from Outperform with a price target of $1.50, down from $30. The firm cites yesterday’s negative Phase 2 results for the company’s lead asset KPI-012 for the downgrade. Mizuho is “very disappointed” by the data and has been unable to connect with management. The analyst removed KPI-012 Kala’s model and downgraded the shares.
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