Kala Pharmaceuticals, Inc. (KALA) is a clinical-stage biotherapeutics company engaged in the manufacturing and marketing of novel therapeutics for corneal disorders. Its AMPPLIFY mucus-penetrating particle Drug Delivery Technology is used for ocular therapeutics including EYSUVIS and INVELTYS for treating dry eyes disease and post-operative pain respectively. The company also has multiple pipeline projects including KPI-012 and others.
The price of KALA stock in the regular trading on March 8, 2022, with an increase of 88.4% was $1.15. Its price declined by 2.61% at the last check of the aftermarket trading.
KALA: Events and Happenings
On March 08, 2022, KALA reported that UnitedHealthcare added EYSUVIS 0.25% as a covered brand on its marketed prescriptions with effect from March 2022. EYSUVIS has coverage for up to 70% of all marketing lives. Also, the company updated that Cigna Medicare added EYSUVIS as a favored brand with effect from February 2022.
On February 18, 2022, KALA announced the grant of inducement award of non-statutory stock options to its employee outside its 2017 Equity Incentive Plan in agreement with NASDAQ Listing Rules. It granted stock options to acquire a sum of 15,000 shares of its common stock. The exercise price of the option award was $0.77 per share.
KALA: Key Financials
On November 15, 2021, KALA released its consolidated financial statement for the third fiscal quarter of 2021 ended September 30, 2021. Some of the focal highlights are cited below.
Revenue
Net product revenue in the third quarter of 2021 was $3.1 million as compared to $2.2 million for the corresponding quarter of 2020. The company gained $0.84 million in its net product revenue over the year. The company missed the revenue estimations by $2.09 million
EPS
Basic and diluted net loss in Q3 2021 was $28.1 million or $0.43 per share corresponding to $27.9 million or $0.50 for the same quarter of 2020. The company reported a slight gain in EPS over the year. The company’s EPS was in-line with the estimations.
On November 15, 2021, KALA informed the press about the Combangio, Inc., acquisition for the development of CMB-012 or KPI-012. The product is used to treat wound healing in the persistent corneal epithelial defect. On November 11, 2021, KALA reported its Executive management’s participation at the following investor conferences
- Jefferies London Healthcare Virtual Conference held on November 18, 2021, and
- Virtual Ophthalmology Day at BTIG is held on November 30, 2021.
Conclusion
KALA stock declined 84% over the past year, the reason being the economic crisis in the pandemic. The company’s stock gained momentum in Tuesday’s regular trading after it announced coverage of EUSUVIS by the two reputed healthcare companies. Afterwards, it lost the momentum to shed its gain. For the upcoming earnings release, the company’s revenue guidance is $3.41 million and EPS guidance is -$0.38.
