‘KALA BIO, Inc. Continues to Make Progress in Developing Innovative Therapies for Rare and Severe Eye Diseases\n\nArlington, Mass., November 13, 2023 – KALA BIO, Inc. (NASDAQ:KALA) has reported its third quarter 2023 financial results and provided a corporate update. The company remains dedicated to its mission of improving the lives of patients with ocular surface and retinal diseases.\n\nAs of September 30, 2023, KALA BIO, Inc. had $56.1 million in cash and cash equivalents, along with anticipated remaining funding from a CIRM award. This strong financial position is expected to fund operations into the second quarter of 2025. The company also raised $18.0 million through its at-the-market offering program.\n\nKALA BIO, Inc. is actively enrolling patients in its CHASE Phase 2b clinical trial for KPI-012, a potential treatment for Persistent Corneal Epithelial Defect (PCED). The company is targeting topline safety and efficacy data in the second half of 2024. In addition, the company is exploring opportunities to expand KPI-012 into additional corneal indications and evaluating KPI-014 for inherited retinal degenerative diseases.\n\nMark Iwicki, Chair and Chief Executive Officer of KALA BIO, stated, “We continue to make progress on our corporate priorities and are actively enrolling patients in our CHASE trial. In addition, we are exploring opportunities to expand KPI-012 into additional corneal indications and evaluating KPI-014 for inherited retinal degenerative diseases. We remain committed to maximizing the potential of our cell-free, regenerative approach to treating rare and severe ocular surface and retinal diseases.”\n\nKALA BIO, Inc.’s CHASE Phase 2b clinical trial is evaluating the potential of KPI-012, a mesenchymal stem cell secretome (MSC-S), to treat PCED, a persistent, non-healing corneal defect that can lead to vision loss if left untreated. The company is also evaluating the potential development of KPI-012 for other rare, front-of-the-eye diseases. In addition, KALA has initiated preclinical studies for its KPI-014 program, which is evaluating the utility of its MSC-S platform for inherited retinal degenerative diseases such as Retinitis Pigmentosa and Stargardt Disease.’$KALA2023-12-15T18:21:18.684Z
