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KALA BIO Inc (NASDAQ: KALA) is a clinical-stage biopharmaceutical company headquartered in Arlington, Massachusetts. Founded in 2009, the company employs its proprietary mesenchymal stem cell secretome (MSC-S) platform to develop biologics for rare and severe eye diseases. After securing FDA approval for its ophthalmic products (EYSUVIS® and INVELTYS®) and divesting these products to Alcon Inc in July 2022, KALA BIO is focused on regenerative therapies aimed at preserving vision.
Corporate Structure and Leadership
• Company size: 11–50 employees
• Executive team highlights:
– Todd Bazemore (Interim CEO, February–September 2025; COO, November 2017–February 2025) has over 30 years of experience in orphan and primary care conditions.
– Dr. Richard Brazzell (Chief Medical Officer since February 2013) has overseen clinical development in multiple ophthalmic companies.
– Darius Kharabi (Chief Business Officer since November 2021) co-founded Combangio Inc., acquired by KALA BIO in 2021, and has a background in stem cell secretome ventures.
– Sarah Reumuth (CFO since July 2017) is a Certified Public Accountant with prior experience at Enobia Pharma, Verenium, Genzyme, and Ernst & Young.
– Mark Iwicki (Chair) has over 25 years of experience in biopharma R&D and commercialization.
Ophthalmic therapies by Diego Chambi
Developments and News
• July 16, 2025: KALA BIO hosted a webcast with key opinion leaders discussing KPI-012 in persistent corneal epithelial defect (PCED). Experts included physicians from Scripps Clinic, Jules Stein Eye Institute, Baylor College of Medicine, and Toyos Clinic.
• October 20, 2025: Shares closed at $0.85, a decrease of 35.11% on a volume of 313,118 shares.
• Pipeline status:
- KPI-012 (Phase 2b): Holds Orphan Drug and Fast Track designations for PCED. A second indication for limbal stem cell deficiency is being evaluated.
- KPI-014 (preclinical): An intravitreal therapy targeting inherited retinal degenerations such as retinitis pigmentosa and Stargardt disease.
Financial and Strategic Analysis
| Metric | Value |
|---|---|
| Share price (Oct 20, 2025) | $0.85 |
| Daily change | –35.11% |
| Volume | 313,118 |
| Market capitalization | $133 million |
| Total cash (mrq) | $31.9 million |
| Net income (ttm) | –$37.2 million |
| Diluted EPS (ttm) | –$0.48 |
| Next earnings window | August 4–8, 2025 |
KALA BIO’s cash position supports ongoing Phase 2b activities, while net losses reflect investments in R&D. The divestiture of EYSUVIS® and INVELTYS® allocated resources for biologics development. The MSC-S platform presents a differentiated mechanism compared to gene-specific therapies used in inherited retinal diseases.
Market Position and Industry Context
KALA BIO operates in the field of rare ophthalmic diseases, where limited FDA-approved treatments exist for PCED and limbal stem cell deficiency. An estimated 100,000 patients in the U.S. are affected by each condition. In inherited retinal degenerations, more than 75% of clinical-stage therapies are gene-specific, which may leave many genotypes without treatment options. KALA BIO’s gene-agnostic MSC-S approach may address the needs of underserved patient populations. The company’s focus on regenerative ocular treatments places it among a select group of biotech firms targeting vision-threatening diseases.
tl;dr
On October 20, 2025, KALA BIO’s shares declined by 35.11% to $0.85 on low trading volume. A July 16, 2025 webcast included expert analysis on Phase 2b results for KPI-012 in PCED. The company reported a cash position of $31.9 million and expects data readouts from ongoing clinical trials. Upcoming financial results will be released during the August 4–8, 2025 timeframe.
