Oppenheimer assumed coverage of Kala Pharmaceuticals (KALA) with an Outperform rating and $15 price target after the company Q1 results with a bottom-line beat and highlighted progress across its pipeline. As Kala remains focused on the development of KPI-012 for rare ocular diseases, the firm is encouraged to see enrollment in the Phase 2b trial for the treatment persistent corneal epithelial defect advancing well. Management still anticipates topline readout in Q3 2025.
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