KALA BIO, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, on March 31, 2025. The company announced cash resources of $51.2 million as of December 31, 2024, which are projected to fund operations into the first quarter of 2026. This cash position includes the $10.75 million raised through a private placement financing that closed in December 2024.
Operationally, KALA continued to advance its Phase 2b CHASE trial for KPI-012 in Persistent Corneal Epithelial Defect (PCED). The company reported that 87 patients had been randomized in the trial to date. Enrollment was continuing into the second quarter of 2025, with topline data now targeted for the third quarter of 2025, a slight adjustment from previous guidance.
The private placement financing, which saw participation from SR One, Cormorant Asset Management, and Woodline Partners, was highlighted as a key factor in supporting the company's R&D efforts. KALA's focus remains on the clinical development of KPI-012, which has received Orphan Drug and Fast Track designations from the FDA for PCED.
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