KALA BIO, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 04, 2023 at 08:08 am EDT
Share
KALA BIO, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 10.41 million compared to USD 28.11 million a year ago. Basic loss per share from continuing operations was USD 4.36 compared to USD 18.92 a year ago. Diluted loss per share from continuing operations was USD 4.36 compared to USD 18.92 a year ago.
For the six months, net loss was USD 24.87 million compared to USD 61.05 million a year ago. Basic loss per share from continuing operations was USD 11.15 compared to USD 41.1 a year ago. Diluted loss per share from continuing operations was USD 11.15 compared to USD 41.1 a year ago.
KALA BIO, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in the research, development and commercialization of therapies for rare and severe diseases of the eye. The Companyâs biologics-based investigational therapies utilize its proprietary mesenchymal stem cell secretome (MSC-S) platform. The Companyâs product candidate, KPI-012, is a human MSC-S, which contains numerous human-derived bio factors, such as growth factors, protease inhibitors, matrix proteins and neurotrophic factors that can potentially correct the impaired corneal healing that is an underlying etiology of multiple severe ocular diseases. Its KPI-012 is used for the treatment of persistent corneal epithelial defect (PCED), a rare disease of impaired corneal healing. The Company is also engaged in the development of KPI-012 for the treatment of Limbal Stem Cell Deficiency and other rare corneal diseases.