Symbols / KALA
KALA Chart
About
KALA BIO, Inc. a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of therapies for rare and severe eye diseases. The company's lead product candidates include KPI-012, which is in Phase 2b clinical trial for the treatment of persistent corneal epithelial defects; and limbal stem cell deficiency and other rare corneal diseases. Its preclinical development product consists of KPI-014 for the treatment of rare inherited retinal diseases. The company was formerly known as Kala Pharmaceuticals, Inc. and changed its name to KALA BIO, Inc. in August 2023. KALA BIO, Inc. was incorporated in 2009 and is headquartered in Arlington, Massachusetts.
Fundamentals
Scroll to Statements| Sector | Healthcare | Industry | Biotechnology | Market Cap | 346.31M |
| Enterprise Value | 11.97M | Income | -35.84M | Sales | — |
| Book/sh | -1.17 | Cash/sh | 2.57 | Dividend Yield | — |
| Payout | 0.00% | Employees | 38 | IPO | — |
| P/E | — | Forward P/E | -0.06 | PEG | — |
| P/S | — | P/B | -0.33 | P/C | — |
| EV/EBITDA | -0.29 | EV/Sales | — | Quick Ratio | 0.65 |
| Current Ratio | 0.74 | Debt/Eq | — | LT Debt/Eq | — |
| EPS (ttm) | -5.51 | EPS next Y | -6.67 | EPS Growth | — |
| Revenue Growth | — | Earnings | 2025-11-19 07:00 | ROA | -65.81% |
| ROE | — | ROIC | — | Gross Margin | 0.00% |
| Oper. Margin | 0.00% | Profit Margin | 0.00% | Shs Outstand | 911.33M |
| Shs Float | 8.18M | Short Float | 2.53% | Short Ratio | 0.29 |
| Short Interest | — | 52W High | 20.60 | 52W Low | 0.35 |
| Beta | -2.44 | Avg Volume | 8.36M | Volume | 727.57K |
| Target Price | — | Recom | None | Prev Close | $0.40 |
| Price | $0.38 | Change | -4.52% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
—
Mean price target
2. Current target
$0.38
Latest analyst target
3. DCF / Fair value
$-0.44
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.38
Low
—
High
—
Mean
—
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2025-09-29 | down | HC Wainwright & Co. | Buy → Neutral | — |
| 2025-09-17 | main | HC Wainwright & Co. | Buy → Buy | $35 |
| 2025-09-11 | main | Oppenheimer | Outperform → Outperform | $33 |
| 2025-09-08 | init | Mizuho | — → Outperform | $30 |
| 2025-05-23 | main | HC Wainwright & Co. | Buy → Buy | $12 |
| 2025-04-04 | reit | HC Wainwright & Co. | Buy → Buy | $15 |
| 2025-02-13 | reit | HC Wainwright & Co. | Buy → Buy | $15 |
| 2024-11-15 | reit | HC Wainwright & Co. | Buy → Buy | $15 |
| 2024-08-19 | reit | Oppenheimer | Outperform → Outperform | $15 |
| 2024-05-17 | main | HC Wainwright & Co. | Buy → Buy | $18 |
| 2024-04-02 | main | HC Wainwright & Co. | Buy → Buy | $21 |
| 2024-04-01 | reit | Oppenheimer | Outperform → Outperform | $15 |
| 2023-11-17 | main | HC Wainwright & Co. | Buy → Buy | $22 |
| 2023-08-11 | reit | HC Wainwright & Co. | Buy → Buy | $24 |
| 2023-05-10 | reit | HC Wainwright & Co. | — → Buy | $24 |
| 2023-05-01 | reit | HC Wainwright & Co. | — → Buy | $22 |
| 2023-04-12 | main | HC Wainwright & Co. | — → Buy | $22 |
| 2023-03-27 | reit | HC Wainwright & Co. | — → Buy | $20 |
| 2023-03-06 | main | HC Wainwright & Co. | — → Buy | $20 |
- KALA Stock Crashes 88% in a Month Following Eye Disorder Study Failure - Zacks Investment Research Wed, 08 Oct 2025 07
- KALA BIO (NASDAQ: KALA) prices $10M registered direct sale of 10M shares at $1.00 - Stock Titan hu, 04 Dec 2025 08
- Kala Bio's CHASE trial misses primary endpoint, KPI-012 development discontinued - Ophthalmology Times Mon, 29 Sep 2025 07
- Kala Bio stock plunges after failed Phase 2b trial for eye treatment - Investing.com Mon, 29 Sep 2025 07
- $KALA stock is down 14% today. Here's what we see in our data. - Quiver Quantitative Wed, 03 Dec 2025 08
- KALA BIO Announces $10 Million Registered Direct Offering - GlobeNewswire hu, 04 Dec 2025 08
- Kala Bio Stock Just Plunged 89% Today – Here’s What Happened - Stocktwits Mon, 29 Sep 2025 14
- What is the long term forecast for KALA stock - Portfolio Gains Report & Real-Time Stock Entry Alerts - mfd.ru Sun, 15 Feb 2026 09
- KALA BIO Receives Nasdaq Notice on Listing Compliance - The Globe and Mail Sat, 24 Jan 2026 08
- Kala Bio Stock Soars 22% After Hours As Emergency Financing Deal Averts Asset Seizure After Eye Disease Drug Trial Collapse - MSN Wed, 26 Nov 2025 06
- KALA BIO (NASDAQ: KALA) completes $10 million offering of 10,000,000 shares to repay debt - Stock Titan Fri, 05 Dec 2025 08
- $KALA stock is down 37% today. Here's what we see in our data. - Quiver Quantitative Mon, 20 Oct 2025 07
- Kala Pharmaceuticals stock falls after $10 million share offering - Investing.com Fri, 05 Dec 2025 08
- Kala Bio Stock Soars 22% After Hours As Emergency Financing Deal Averts Asset Seizure After Eye Disease Drug Trial Collapse - Stocktwits ue, 25 Nov 2025 08
- KALA BIO (NASDAQ: KALA) inks $6M securities deal, appoints David Lazar CEO and chair - Stock Titan Mon, 01 Dec 2025 08
Insider Transactions
| Date | Shares | Value | Url | Text | Insider | Position | Transaction | Start Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 154894 | 125464 | — | Sale at price 0.81 per share. | IWICKI MARK T. | Director | — | 2025-10-23 00:00:00 | D |
| 1 | 33197 | 27544 | — | Sale at price 0.82 - 0.83 per share. | REUMUTH MARY | Chief Financial Officer | — | 2025-10-23 00:00:00 | D |
| 2 | 46748 | 38801 | — | Sale at price 0.83 per share. | BRAZZELL ROMULUS KIM | Officer | — | 2025-10-22 00:00:00 | D |
| 3 | 47768 | 39647 | — | Sale at price 0.83 per share. | BAZEMORE TODD M | Director | — | 2025-10-22 00:00:00 | D |
| 4 | 20806 | 17269 | — | Sale at price 0.83 per share. | KHARABI DARIUS | Officer | — | 2025-10-22 00:00:00 | D |
| 5 | 730408 | 1056722 | — | Sale at price 1.38 - 1.60 per share. | BAKER BROS ADVISORS, L.P. | Former | — | 2025-10-01 00:00:00 | I |
| 6 | 13227 | 53040 | — | Sale at price 4.01 per share. | IWICKI MARK T. | Director | — | 2025-06-24 00:00:00 | D |
| 7 | 4058 | 16273 | — | Sale at price 4.01 per share. | BAZEMORE TODD M | Chief Executive Officer | — | 2025-06-24 00:00:00 | D |
| 8 | 3631 | 14560 | — | Sale at price 4.01 per share. | REUMUTH MARY | Chief Financial Officer | — | 2025-06-24 00:00:00 | D |
| 9 | 4511 | 18089 | — | Sale at price 4.01 per share. | KHARABI DARIUS | Officer | — | 2025-06-24 00:00:00 | D |
Financials
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | 0.00 | 0.00 | 0.00 | 0.00 |
| TaxRateForCalcs | 0.00 | 0.00 | 0.00 | 0.00 |
| NormalizedEBITDA | -31.92M | -35.57M | -81.08M | -107.04M |
| TotalUnusualItems | -549.00K | -510.00K | 44.06M | -26.21M |
| TotalUnusualItemsExcludingGoodwill | -549.00K | -510.00K | 44.06M | -26.21M |
| NetIncomeFromContinuingOperationNetMinorityInterest | -38.51M | -42.20M | -44.82M | -142.60M |
| ReconciledDepreciation | 259.00K | 303.00K | 537.00K | 975.00K |
| ReconciledCostOfRevenue | 0.00 | 2.56M | 4.10M | |
| EBITDA | -32.47M | -36.08M | -37.02M | -133.25M |
| EBIT | -32.73M | -36.38M | -37.56M | -134.22M |
| NetInterestIncome | -3.73M | -3.10M | -6.60M | -8.28M |
| InterestExpense | 5.78M | 5.81M | 7.27M | 8.38M |
| InterestIncome | 2.06M | 2.71M | 664.00K | 104.00K |
| NormalizedIncome | -37.96M | -41.69M | -88.88M | -116.40M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -38.51M | -42.20M | -44.82M | -142.60M |
| TotalExpenses | 34.23M | 34.33M | 85.25M | 120.67M |
| TotalOperatingIncomeAsReported | -40.98M | -39.66M | -81.71M | -130.25M |
| DilutedAverageShares | 3.80M | 2.43M | 1.52M | 1.32M |
| BasicAverageShares | 3.80M | 2.43M | 1.52M | 1.32M |
| DilutedEPS | -10.15 | -17.35 | -29.48 | -108.32 |
| BasicEPS | -10.15 | -17.35 | -29.48 | -108.32 |
| DilutedNIAvailtoComStockholders | -38.51M | -42.20M | -44.82M | -142.60M |
| NetIncomeCommonStockholders | -38.51M | -42.20M | -44.82M | -142.60M |
| NetIncome | -38.51M | -42.20M | -44.82M | -142.60M |
| NetIncomeIncludingNoncontrollingInterests | -38.51M | -42.20M | -44.82M | -142.60M |
| NetIncomeContinuousOperations | -38.51M | -42.20M | -44.82M | -142.60M |
| PretaxIncome | -38.51M | -42.20M | -44.82M | -142.60M |
| OtherIncomeExpense | -549.00K | -4.77M | 43.14M | -24.90M |
| OtherNonOperatingIncomeExpenses | -4.26M | -926.00K | 1.31M | |
| SpecialIncomeCharges | -549.00K | -510.00K | 44.06M | -26.21M |
| GainOnSaleOfBusiness | 0.00 | 46.99M | 0.00 | |
| OtherSpecialCharges | 2.58M | 32.01M | ||
| RestructuringAndMergernAcquisition | 549.00K | 510.00K | 350.00K | -5.80M |
| NetNonOperatingInterestIncomeExpense | -3.73M | -3.10M | -6.60M | -8.28M |
| InterestExpenseNonOperating | 5.78M | 5.81M | 7.27M | 8.38M |
| InterestIncomeNonOperating | 2.06M | 2.71M | 664.00K | 104.00K |
| OperatingIncome | -34.23M | -34.33M | -81.36M | -109.43M |
| OperatingExpense | 34.23M | 34.33M | 82.69M | 116.58M |
| OtherOperatingExpenses | -6.20M | -4.83M | ||
| ResearchAndDevelopment | 22.09M | 18.59M | 17.65M | 11.52M |
| SellingGeneralAndAdministration | 18.34M | 20.57M | 65.03M | 105.06M |
| GeneralAndAdministrativeExpense | 18.34M | 20.57M | 65.03M | 105.06M |
| OtherGandA | 18.34M | 20.57M | 65.03M | 105.06M |
| GrossProfit | 0.00 | 1.33M | 7.14M | |
| CostOfRevenue | 0.00 | 2.56M | 4.10M | |
| TotalRevenue | 0.00 | 0.00 | 3.89M | 11.24M |
| OperatingRevenue | 0.00 | 0.00 | 3.89M | 11.24M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| OrdinarySharesNumber | 6.09M | 2.76M | 1.71M | 1.31M |
| ShareIssued | 6.09M | 2.76M | 1.71M | 1.31M |
| TotalDebt | 32.25M | 36.32M | 42.95M | 80.19M |
| TangibleBookValue | 12.33M | 7.50M | 18.97M | 16.80M |
| InvestedCapital | 42.77M | 41.69M | 61.91M | 95.73M |
| WorkingCapital | 35.84M | 44.52M | 60.26M | 86.94M |
| NetTangibleAssets | 12.33M | 7.50M | 18.97M | 16.80M |
| CapitalLeaseObligations | 1.81M | 2.13M | 13.00K | 1.26M |
| CommonStockEquity | 12.33M | 7.50M | 18.97M | 16.80M |
| TotalCapitalization | 32.43M | 41.69M | 56.91M | 95.73M |
| TotalEquityGrossMinorityInterest | 12.33M | 7.50M | 18.97M | 16.80M |
| StockholdersEquity | 12.33M | 7.50M | 18.97M | 16.80M |
| GainsLossesNotAffectingRetainedEarnings | 0.00 | 0.00 | 0.00 | |
| RetainedEarnings | -667.92M | -629.41M | -587.21M | -542.39M |
| AdditionalPaidInCapital | 680.25M | 636.91M | 606.18M | 559.19M |
| CapitalStock | 6.00K | 3.00K | 2.00K | 1.00K |
| CommonStock | 6.00K | 3.00K | 2.00K | 1.00K |
| PreferredStock | 0.00 | 0.00 | 0.00 | 0.00 |
| TotalLiabilitiesNetMinorityInterest | 43.15M | 48.45M | 67.85M | 122.62M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 26.20M | 40.10M | 42.16M | 85.20M |
| OtherNonCurrentLiabilities | 4.66M | 4.11M | 4.22M | 4.84M |
| NonCurrentDeferredLiabilities | 0.00 | 883.00K | ||
| LongTermDebtAndCapitalLeaseObligation | 21.54M | 35.99M | 37.94M | 79.48M |
| LongTermCapitalLeaseObligation | 1.43M | 1.80M | 0.00 | 548.00K |
| LongTermDebt | 20.10M | 34.19M | 37.94M | 78.93M |
| CurrentLiabilities | 16.96M | 8.35M | 25.68M | 37.42M |
| OtherCurrentLiabilities | 4.15M | 3.82M | ||
| CurrentDeferredLiabilities | 637.00K | 1.07M | 4.78M | 7.01M |
| CurrentDeferredRevenue | 637.00K | 1.07M | 4.19M | 0.00 |
| CurrentDebtAndCapitalLeaseObligation | 10.72M | 334.00K | 5.01M | 711.00K |
| CurrentCapitalLeaseObligation | 380.00K | 334.00K | 13.00K | 711.00K |
| CurrentDebt | 10.34M | 5.00M | ||
| OtherCurrentBorrowings | 10.34M | 5.00M | ||
| PensionandOtherPostRetirementBenefitPlansCurrent | 2.39M | 2.62M | 3.33M | 6.32M |
| CurrentProvisions | 807.00K | 10.30M | ||
| PayablesAndAccruedExpenses | 3.21M | 4.32M | 8.41M | 19.56M |
| CurrentAccruedExpenses | 2.58M | 3.40M | 5.58M | 14.66M |
| Payables | 628.00K | 919.00K | 2.83M | 4.90M |
| AccountsPayable | 628.00K | 919.00K | 2.83M | 4.90M |
| TotalAssets | 55.48M | 55.95M | 86.82M | 139.43M |
| TotalNonCurrentAssets | 2.69M | 3.08M | 878.00K | 15.06M |
| OtherNonCurrentAssets | 246.00K | 301.00K | 462.00K | 11.04M |
| NetPPE | 2.44M | 2.78M | 416.00K | 4.02M |
| AccumulatedDepreciation | -1.31M | -1.11M | -1.22M | -2.86M |
| GrossPPE | 3.75M | 3.89M | 1.64M | 6.88M |
| Leases | 0.00 | |||
| ConstructionInProgress | 0.00 | 100.00K | 0.00 | 1.72M |
| OtherProperties | 1.19M | 894.00K | 391.00K | 2.65M |
| MachineryFurnitureEquipment | 869.00K | 869.00K | 1.23M | 1.22M |
| BuildingsAndImprovements | 1.69M | 2.02M | 16.00K | 1.30M |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 52.80M | 52.87M | 85.94M | 124.37M |
| OtherCurrentAssets | 1.62M | 1.98M | 657.00K | 1.88M |
| AssetsHeldForSaleCurrent | 0.00 | 7.59M | 0.00 | |
| RestrictedCash | 0.00 | 2.04M | ||
| PrepaidAssets | 555.00K | 698.00K | 2.22M | |
| Inventory | 0.00 | 8.64M | ||
| Receivables | 236.00K | 6.50M | 17.45M | |
| OtherReceivables | 119.00K | 908.00K | 2.11M | |
| DuefromRelatedPartiesCurrent | 0.00 | 5.39M | 0.00 | |
| AccountsReceivable | 117.00K | 195.00K | 15.35M | |
| CashCashEquivalentsAndShortTermInvestments | 51.18M | 50.90M | 70.50M | 92.14M |
| OtherShortTermInvestments | 0.00 | |||
| CashAndCashEquivalents | 51.18M | 50.90M | 70.50M | 92.14M |
| Line Item | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| FreeCashFlow | -29.59M | -28.54M | -79.22M | -113.77M |
| RepaymentOfDebt | -5.04M | -10.00M | -40.04M | -78.05M |
| IssuanceOfDebt | 0.00 | 77.78M | ||
| IssuanceOfCapitalStock | 34.96M | 20.50M | 31.80M | 41.23M |
| CapitalExpenditure | -208.00K | -610.00K | -313.00K | -5.54M |
| InterestPaidSupplementalData | 4.61M | 4.62M | 5.96M | 6.84M |
| EndCashPosition | 51.18M | 50.90M | 70.75M | 94.88M |
| BeginningCashPosition | 50.90M | 70.75M | 94.88M | 89.76M |
| ChangesInCash | 286.00K | -19.85M | -24.13M | 5.12M |
| FinancingCashFlow | 29.88M | 8.51M | -7.94M | 42.55M |
| CashFlowFromContinuingFinancingActivities | 29.88M | 8.51M | -7.94M | 42.55M |
| NetOtherFinancingCharges | -119.00K | -2.04M | ||
| ProceedsFromStockOptionExercised | 77.00K | 46.00K | 301.00K | 1.58M |
| NetPreferredStockIssuance | 8.54M | 1.97M | 0.00 | |
| PreferredStockIssuance | 8.54M | 1.97M | 0.00 | |
| NetCommonStockIssuance | 26.43M | 18.54M | 31.80M | 41.23M |
| CommonStockIssuance | 26.43M | 18.54M | 31.80M | 41.23M |
| NetIssuancePaymentsOfDebt | -5.04M | -10.00M | -40.04M | -263.00K |
| NetLongTermDebtIssuance | -5.04M | -10.00M | -40.04M | -263.00K |
| LongTermDebtPayments | -5.04M | -10.00M | -40.04M | -78.05M |
| LongTermDebtIssuance | 0.00 | 77.78M | ||
| InvestingCashFlow | -208.00K | -429.00K | 62.72M | 70.80M |
| CashFlowFromContinuingInvestingActivities | -208.00K | -429.00K | 62.72M | 70.80M |
| NetInvestmentPurchaseAndSale | 0.00 | 134.00K | 8.00K | 76.25M |
| SaleOfInvestment | 0.00 | 10.00M | 5.00M | 76.25M |
| PurchaseOfInvestment | 0.00 | -9.87M | -4.99M | 0.00 |
| NetBusinessPurchaseAndSale | 0.00 | 62.91M | 0.00 | |
| SaleOfBusiness | 0.00 | 62.91M | 0.00 | |
| PurchaseOfBusiness | -4.65M | |||
| NetIntangiblesPurchaseAndSale | 0.00 | -4.65M | ||
| PurchaseOfIntangibles | 0.00 | -4.65M | ||
| NetPPEPurchaseAndSale | -208.00K | -563.00K | -199.00K | -794.00K |
| SaleOfPPE | 0.00 | 47.00K | 114.00K | 92.00K |
| PurchaseOfPPE | -208.00K | -610.00K | -313.00K | -886.00K |
| OperatingCashFlow | -29.38M | -27.93M | -78.91M | -108.23M |
| CashFlowFromContinuingOperatingActivities | -29.38M | -27.93M | -78.91M | -108.23M |
| ChangeInWorkingCapital | -1.78M | 8.89M | 491.00K | -10.62M |
| ChangeInOtherCurrentLiabilities | -319.00K | -13.00K | -344.00K | -689.00K |
| ChangeInOtherCurrentAssets | 0.00 | -144.00K | 0.00 | |
| ChangeInPayablesAndAccruedExpense | -1.82M | -4.33M | -14.00M | 4.95M |
| ChangeInAccruedExpense | -1.53M | -2.42M | -11.93M | 1.71M |
| ChangeInPayable | -291.00K | -1.90M | -2.08M | 3.23M |
| ChangeInAccountPayable | -291.00K | -1.90M | -2.08M | 3.23M |
| ChangeInPrepaidAssets | 359.00K | 5.83M | -2.01M | -2.86M |
| ChangeInInventory | 0.00 | 7.54M | 1.71M | -6.26M |
| ChangeInReceivables | 78.00K | 15.14M | -5.76M | |
| ChangesInAccountReceivables | 78.00K | 15.14M | -5.76M | |
| OtherNonCashItems | 2.26M | -2.39M | 2.29M | 22.53M |
| StockBasedCompensation | 8.39M | 7.46M | 7.01M | 16.09M |
| AmortizationOfSecurities | 22.00K | |||
| DepreciationAmortizationDepletion | 259.00K | 303.00K | 537.00K | 975.00K |
| DepreciationAndAmortization | 259.00K | 303.00K | 537.00K | 975.00K |
| OperatingGainsLosses | -44.41M | 5.39M | ||
| GainLossOnSaleOfBusiness | 0.00 | -46.99M | 0.00 | |
| NetIncomeFromContinuingOperations | -38.51M | -42.20M | -44.82M | -142.60M |
SEC Filings
Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.
Public Trades for KALA
| Date | User | Asset | Broker | Type | Position Size | Entry Price | Patterns |
|---|