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KALA BIO
(NASDAQ:KALA)
KALA BIO (KALA) vs. SPDR S&P 500 ETF (SPY)
KALA BIO Business Overview & Revenue Model
KALA BIO Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 254.00K | 0.00 | 0.00 | 3.89M | 11.24M | 6.36M |
| Gross Profit | -8.00K | -259.00K | -303.00K | 1.33M | 7.14M | 3.19M |
| EBITDA | -30.98M | -40.98M | -36.08M | -36.70M | -131.96M | -92.90M |
| Net Income | -35.84M | -38.51M | -42.20M | -44.82M | -142.60M | -104.33M |
Balance Sheet | ||||||
| Total Assets | 25.02M | 55.48M | 55.95M | 86.82M | 139.43M | 221.61M |
| Cash, Cash Equivalents and Short-Term Investments | 21.10M | 51.18M | 50.90M | 70.50M | 92.14M | 153.54M |
| Total Debt | 29.94M | 32.25M | 36.32M | 42.95M | 80.19M | 100.92M |
| Total Liabilities | 1.11M | 43.15M | 48.45M | 67.85M | 122.62M | 121.61M |
| Stockholders Equity | -8.66M | 12.33M | 7.50M | 18.97M | 16.80M | 100.00M |
Cash Flow | ||||||
| Free Cash Flow | -32.09M | -29.59M | -28.54M | -79.22M | -109.12M | -92.64M |
| Operating Cash Flow | -32.03M | -29.38M | -27.93M | -78.91M | -108.23M | -90.69M |
| Investing Cash Flow | -84.00K | -208.00K | -429.00K | 62.72M | 70.80M | -78.21M |
| Financing Cash Flow | 4.01M | 29.88M | 8.51M | -7.94M | 42.55M | 160.63M |
KALA BIO Technical Analysis
KALA BIO Risk Analysis
KALA BIO Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $26.04M | 83.91 | 0.27% | ― | 75.19% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $58.93M | -15.40 | -13.08% | ― | 12.21% | 69.91% | |
45 Neutral | $30.42M | -1.29 | -53.29% | ― | -65.77% | 38.61% | |
42 Neutral | $40.59M | -6.27 | -16.67% | ― | -23.60% | -179.33% | |
40 Underperform | $12.27M | -0.07 | ― | ― | ― | 52.39% |
KALA BIO Corporate Events
On November 24, 2025, KALA BIO completed the first closing of a private placement under a previously disclosed agreement by issuing 900,000 shares of Series AA Convertible Non-Redeemable Preferred Stock at $2.00 per share, raising $1.8 million and creating the potential issuance of 49,500,000 common shares upon conversion. After a series of transfers of purchase rights among investors in December 2025 and January 2026, the company entered a new Securities Purchase Agreement on January 30, 2026, with a group of Series AAA investors and completed a second closing the same day, issuing 2,100,000 shares of Series AAA Preferred Stock at $2.00 per share for $4.2 million in gross proceeds, with each Series AAA share convertible into 420 common shares, or up to 882,000,000 common shares in total; the offering was conducted as a private placement exempt from SEC registration. At its recent Annual Meeting, where 15,489,822 common shares were represented, shareholders elected three Class II directors to terms ending at the 2028 annual meeting, approved executive compensation on an advisory basis, ratified the appointment of HTL International, LLC as independent auditor for 2025, authorized the issuance of common stock upon conversion of the Series AA and Series AAA preferred shares in line with Nasdaq rules, and approved an increase in authorized common stock to 1.5 billion shares as well as a board‑discretionary reverse stock split in a range of 1‑for‑2 to 1‑for‑100, actions that collectively position KALA BIO to significantly expand its equity base and maintain listing compliance while potentially causing substantial dilution to existing shareholders.
The most recent analyst rating on (KALA) stock is a Sell with a $0.50 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On January 20, 2026, Kala Bio disclosed that it had received a notice from Nasdaq stating that, based on the company’s closing bid prices between December 3, 2025 and January 16, 2026, its shares had traded below the $1.00 minimum required for continued listing on the Nasdaq Capital Market. The company has been granted a 180-day compliance period, until July 20, 2026, to restore its share price to at least $1.00 for ten consecutive business days, with the possibility of an additional 180-day extension if it meets other listing criteria and commits to a remedy such as a reverse stock split; failure to regain compliance could ultimately lead to delisting, although the notice does not immediately affect trading of the shares.
The most recent analyst rating on (KALA) stock is a Sell with a $0.58 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On January 8, 2026, KALA BIO, Inc. entered into an at-the-market equity offering agreement with H.C. Wainwright & Co., allowing the company to issue and sell up to $15 million of its common stock from time to time through Wainwright as sales agent or, in certain cases, principal. Under the arrangement, KALA BIO retains full discretion over sales parameters, pays a 3% commission on gross proceeds and certain expense reimbursements to Wainwright, and may suspend or opt not to sell shares at any time, meaning the program primarily creates financing flexibility and potential access to incremental capital rather than immediately altering the company’s capital structure.
The most recent analyst rating on (KALA) stock is a Hold with a $0.60 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On December 30, 2025, KALA BIO entered into a series of equity-based settlements, agreeing to issue 900,000 common shares to Baker Bros. Advisors to resolve claims over participation rights and securing a six‑month voting proxy over those and certain other Baker Bros. shares, 2,200,000 shares to LifeSci Capital to settle financial advisory fee obligations, and 1,100,000 shares to Delaware IR to satisfy a $600,000 marketing and advertising consulting liability via stock with a make‑whole feature tied to sale proceeds. That same day, the company issued a total of 4,600,000 unregistered common shares in private transactions—4.2 million under these settlements and 400,000 to employees—and later disclosed that, following a $2 million payment completed by December 26, 2025, it had fully extinguished approximately $10.6 million of debt owed to Oxford Finance, a move management described on January 5, 2026 as a transformational step that removes a significant debt overhang, increases stockholders’ equity and improves KALA BIO’s financial flexibility, while also using equity awards as inducements to hire four new employees.
The most recent analyst rating on (KALA) stock is a Hold with a $0.59 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On December 26, 2025, Kala Bio, Inc. paid $2 million to Oxford Finance, LLC under a previously disclosed Loan Settlement Agreement linked to prior events of default under a 2021 Loan and Security Agreement involving the company and its subsidiary Combangio, Inc. With this payment, Kala Bio’s approximately $10.6 million aggregate liability to Oxford was fully settled and released, eliminating its obligations under both the settlement and the original loan, which strengthens the company’s balance sheet and resolves a significant debt-related overhang for stakeholders.
The most recent analyst rating on (KALA) stock is a Sell with a $0.55 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On December 19, 2025, six directors of KALA BIO—Marjan Farid, M.D., Andrew I. Koven, C. Daniel Myers, Todd Bazmore, Mark Iwicki, and Howard B. Rosen—submitted conditional resignations that would become effective immediately after the company’s 2025 annual meeting if shareholders approve both the issuance of common stock upon conversion of certain preferred shares and an increase in authorized common stock. The move, which the company stated was not due to any disagreement over operations, policies or practices, would significantly reshape KALA BIO’s board composition after the 2025 annual meeting, while David Lazar is expected to remain on the board as a Class II director regardless of the vote outcome, highlighting governance changes tied directly to forthcoming capital-structure decisions.
The most recent analyst rating on (KALA) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
KALA BIO has scheduled its next annual meeting of stockholders for January 30, 2026, with stockholder proposals due by December 27, 2025. The company has entered into a Convertible Loan Agreement and a Securities Purchase Agreement with David Lazar, resulting in a $375,000 loan and a $6.0 million private placement of preferred shares. David Lazar has been appointed as CEO and a director, and he has sold his rights to purchase Series AAA Preferred Shares to AK Holdings Group Inc., retaining his Series AA shares and loan agreement.
The most recent analyst rating on (KALA) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On December 4, 2025, KALA BIO, Inc. entered into a securities purchase agreement with an institutional investor to issue and sell 900,000 shares of common stock and pre-funded warrants for up to 9,100,000 shares, raising $10 million in a registered direct offering. The offering closed on December 5, 2025, with H.C. Wainwright & Co. as the exclusive placement agent. The company plans to use the net proceeds for debt repayment and general corporate purposes. The agreement includes restrictions on further issuance of common stock for a specified period, impacting KALA’s financial strategy and market operations.
The most recent analyst rating on (KALA) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On November 23, 2025, KALA BIO entered into a Securities Purchase Agreement to issue Series AA and Series AAA Convertible Non-Redeemable Preferred Stock, raising up to $6 million. The first closing occurred on November 24, 2025, with $1.8 million raised, and a second closing is expected by March 31, 2026, contingent on stockholder approvals. Additionally, KALA BIO settled a loan with Oxford, reducing outstanding obligations by $7 million through a cash payment and stock issuance. The company also announced leadership changes, including the appointment of David Lazar as CEO, and a voting agreement with Oxford to support board proposals.
The most recent analyst rating on (KALA) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on KALA BIO stock, see the KALA Stock Forecast page.
On November 10, 2025, KALA BIO, Inc. received a deficiency letter from Nasdaq indicating non-compliance with the Minimum Market Value of Listed Securities Requirement, as its market value was below $35 million for 30 consecutive business days. The company has until May 11, 2026, to regain compliance, failing which it may face delisting. KALA BIO intends to monitor its market value and consider options to meet the Nasdaq requirements.
The most recent analyst rating on (KALA) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Kala Pharmaceuticals stock, see the KALA Stock Forecast page.
On November 9, 2025, Kala Pharmaceuticals entered into a Convertible Loan Agreement with an individual investor for a loan of up to $375,000. The loan will be used to negotiate additional investment transactions and prepare a quarterly report. The agreement allows the lender to convert the loan into company shares or demand repayment in cash, especially if a liquidity event occurs. This move comes as the company faces financial difficulties, with Oxford Finance LLC previously planning to foreclose on its assets. Kala Pharmaceuticals aims to use this loan to explore strategic options, including potential sales or mergers, although there is no assurance of success.
The most recent analyst rating on (KALA) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Kala Pharmaceuticals stock, see the KALA Stock Forecast page.