Kala Pharmaceuticals reports Q1 EPS ($4.20), consensus ($(2.89)

Reports cash resources of $48.5M as of March 31 together with anticipated funding remaining from CIRM award expected to fund operations into 3Q .”In 2024, we are acutely focused on advancing our clinical program for KPI-012 in PCED, a rare, devastating disease caused by an array of underlying etiologies, many of which cannot be treated with currently approved therapeutic options,” said Mark Iwicki, Chair and Chief Executive Officer of KALA BIO. “Given its multifactorial mechanism of action and based on clinical data to-date, we believe KPI-012 has the potential to address the multiple impaired corneal healing processes that cause PCED and provide patients a well-tolerated, easily administered and effective therapy. We are targeting topline data from our ongoing Phase 2b CHASE trial by year end which, if successful, could serve as the first of two pivotal trials required to support a BLA submission.” Mr. Iwicki continued, “In parallel, we remain committed to exploring the potential of our platform technology more broadly, as we work to establish KALA as a leader in the emerging field of mesenchymal stem cell secretome therapy. We believe KPI-012 represents a pipeline-in-a-product opportunity and plan to leverage our investigational new drug-enabling activities in PCED to support follow-on indications across a range of corneal diseases, while also exploring the potential for KPI-014, our second asset, across a range of rare, inherited retinal diseases.”