Mizuho analyst Graig Suvannavejh expects “material weakness” in Kala Pharmaceuticals shares today after the company announced that KPI-012 failed to achieve all primary and secondary end points in its Phase 2a study in persistent corneal epithelial defect. Kala shares shared no data details and is not hosting a call which is disappointing, the analyst tells investors in a research note. The stock in morning trading is down 90%, or $17.14, to $1.91.
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