Symbols / KALA $0.17 -0.81% KALA BIO, Inc.

Healthcare • Biotechnology • United States • NCM
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 156.48M
Enterprise Value 10.27M 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 -0.03 PEG —
P/S — P/B -0.15 P/C —
EV/EBITDA -0.25 EV/Sales — Quick Ratio 0.65
Current Ratio 0.74 Debt/Eq — LT Debt/Eq —
EPS (ttm) -5.64 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 7.66M Short Float 0.75% Short Ratio 0.40
Short Interest — 52W High 20.60 52W Low 0.16
Beta -2.37 Avg Volume 7.11M Volume 2.47M
Target Price — Recom None Prev Close $0.17
Price $0.17 Change -0.81%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
—
Mean price target
2. Current target
$0.17
Latest analyst target
3. DCF / Fair value
$-0.44
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$0.17
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
News
RSS: Latest KALA news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2025-10-23 IWICKI MARK T. Director — 154,894 $0.81 $125,464
2025-10-23 REUMUTH MARY Chief Financial Officer — 33,197 $0.82 $27,544
2025-10-22 BRAZZELL ROMULUS KIM Officer — 46,748 $0.83 $38,801
2025-10-22 BAZEMORE TODD M Director — 47,768 $0.83 $39,647
2025-10-22 KHARABI DARIUS Officer — 20,806 $0.83 $17,269
2025-10-01 BAKER BROS ADVISORS, L.P. Former — 730,408 $1.38 $1,056,722
2025-06-24 IWICKI MARK T. Director — 13,227 $4.01 $53,040
2025-06-24 BAZEMORE TODD M Chief Executive Officer — 4,058 $4.01 $16,273
2025-06-24 REUMUTH MARY Chief Financial Officer — 3,631 $4.01 $14,560
2025-06-24 KHARABI DARIUS Officer — 4,511 $4.01 $18,089
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total Revenue
0.00
0.00
-100.00%
3.89
-65.37%
11.24
Operating Revenue
0.00
0.00
-100.00%
3.89
-65.37%
11.24
Cost Of Revenue
—
0.00
-100.00%
2.56
-37.52%
4.10
Reconciled Cost Of Revenue
—
0.00
-100.00%
2.56
-37.52%
4.10
Gross Profit
—
0.00
-100.00%
1.33
-81.35%
7.14
Operating Expense
34.23
-0.27%
34.33
-58.48%
82.69
-29.07%
116.58
Research And Development
22.09
+18.87%
18.59
+5.29%
17.65
+53.30%
11.52
Selling General And Administration
18.34
-10.83%
20.57
-68.38%
65.03
-38.10%
105.06
General And Administrative Expense
18.34
-10.83%
20.57
-68.38%
65.03
-38.10%
105.06
Other Gand A
18.34
-10.83%
20.57
-68.38%
65.03
-38.10%
105.06
Other Operating Expenses
-6.20
-28.48%
-4.83
—
—
Total Expenses
34.23
-0.27%
34.33
-59.73%
85.25
-29.36%
120.67
Operating Income
-34.23
+0.27%
-34.33
+57.81%
-81.36
+25.66%
-109.43
Total Operating Income As Reported
-40.98
-3.33%
-39.66
+51.46%
-81.71
+37.27%
-130.25
EBITDA
-32.47
+10.01%
-36.08
+2.53%
-37.02
+72.22%
-133.25
Normalized EBITDA
-31.92
+10.27%
-35.57
+56.13%
-81.08
+24.25%
-107.04
Reconciled Depreciation
0.26
-14.52%
0.30
-43.58%
0.54
-44.92%
0.97
EBIT
-32.73
+10.05%
-36.38
+3.12%
-37.56
+72.02%
-134.22
Total Unusual Items
-0.55
-7.65%
-0.51
-101.16%
44.06
+268.13%
-26.21
Total Unusual Items Excluding Goodwill
-0.55
-7.65%
-0.51
-101.16%
44.06
+268.13%
-26.21
Special Income Charges
-0.55
-7.65%
-0.51
-101.16%
44.06
+268.13%
-26.21
Other Special Charges
—
—
2.58
-91.93%
32.01
Restructuring And Mergern Acquisition
0.55
+7.65%
0.51
+45.71%
0.35
+106.03%
-5.80
Net Income
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Pretax Income
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Net Non Operating Interest Income Expense
-3.73
-20.11%
-3.10
+53.00%
-6.60
+20.23%
-8.28
Interest Expense Non Operating
5.78
-0.53%
5.81
-19.98%
7.27
-13.29%
8.38
Net Interest Income
-3.73
-20.11%
-3.10
+53.00%
-6.60
+20.23%
-8.28
Interest Expense
5.78
-0.53%
5.81
-19.98%
7.27
-13.29%
8.38
Interest Income Non Operating
2.06
-24.16%
2.71
+308.28%
0.66
+538.46%
0.10
Interest Income
2.06
-24.16%
2.71
+308.28%
0.66
+538.46%
0.10
Other Income Expense
-0.55
+88.49%
-4.77
-111.05%
43.14
+273.26%
-24.90
Other Non Operating Income Expenses
—
-4.26
-359.83%
-0.93
-170.63%
1.31
Gain On Sale Of Business
—
0.00
-100.00%
46.99
0.00
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Net Income From Continuing Operation Net Minority Interest
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Net Income From Continuing And Discontinued Operation
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Net Income Continuous Operations
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Normalized Income
-37.96
+8.94%
-41.69
+53.10%
-88.88
+23.64%
-116.40
Net Income Common Stockholders
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Diluted EPS
-10.15
+41.50%
-17.35
+41.15%
-29.48
+72.78%
-108.32
Basic EPS
-10.15
+41.50%
-17.35
+41.15%
-29.48
+72.78%
-108.32
Basic Average Shares
3.80
+56.09%
2.43
+59.94%
1.52
+15.50%
1.32
Diluted Average Shares
3.80
+56.09%
2.43
+59.94%
1.52
+15.50%
1.32
Diluted NI Availto Com Stockholders
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Line Item Trend 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total Assets
55.48
-0.83%
55.95
-35.56%
86.82
-37.73%
139.43
Current Assets
52.80
-0.14%
52.87
-38.48%
85.94
-30.90%
124.37
Cash Cash Equivalents And Short Term Investments
51.18
+0.56%
50.90
-27.80%
70.50
-23.49%
92.14
Cash And Cash Equivalents
51.18
+0.56%
50.90
-27.80%
70.50
-23.49%
92.14
Other Short Term Investments
—
—
—
0.00
Receivables
—
0.24
-96.37%
6.50
-62.78%
17.45
Accounts Receivable
—
0.12
-40.00%
0.20
-98.73%
15.35
Other Receivables
—
0.12
-86.89%
0.91
-56.97%
2.11
Inventory
—
—
0.00
-100.00%
8.64
Prepaid Assets
—
0.56
-20.49%
0.70
-68.53%
2.22
Restricted Cash
—
—
0.00
-100.00%
2.04
Assets Held For Sale Current
—
0.00
-100.00%
7.59
0.00
Other Current Assets
1.62
-18.18%
1.98
+200.61%
0.66
-64.98%
1.88
Total Non Current Assets
2.69
-12.76%
3.08
+250.68%
0.88
-94.17%
15.06
Net PPE
2.44
-12.17%
2.78
+567.79%
0.42
-89.65%
4.02
Gross PPE
3.75
-3.45%
3.89
+137.07%
1.64
-76.17%
6.88
Accumulated Depreciation
-1.31
-18.38%
-1.11
+9.31%
-1.22
+57.22%
-2.86
Properties
0.00
0.00
0.00
0.00
Buildings And Improvements
1.69
-16.49%
2.02
+12556.25%
0.02
-98.77%
1.30
Machinery Furniture Equipment
0.87
+0.00%
0.87
-29.52%
1.23
+0.98%
1.22
Construction In Progress
0.00
-100.00%
0.10
0.00
-100.00%
1.72
Other Properties
1.19
+33.56%
0.89
+128.64%
0.39
-85.23%
2.65
Leases
—
—
—
0.00
Other Non Current Assets
0.25
-18.27%
0.30
-34.85%
0.46
-95.82%
11.04
Total Liabilities Net Minority Interest
43.15
-10.93%
48.45
-28.60%
67.85
-44.67%
122.62
Current Liabilities
16.96
+103.16%
8.35
-67.51%
25.68
-31.36%
37.42
Payables And Accrued Expenses
3.21
-25.64%
4.32
-48.61%
8.41
-57.02%
19.56
Payables
0.63
-31.66%
0.92
-67.55%
2.83
-42.19%
4.90
Accounts Payable
0.63
-31.66%
0.92
-67.55%
2.83
-42.19%
4.90
Current Accrued Expenses
2.58
-24.02%
3.40
-38.99%
5.58
-61.97%
14.66
Pensionand Other Post Retirement Benefit Plans Current
2.39
-8.64%
2.62
-21.54%
3.33
-47.28%
6.32
Current Debt And Capital Lease Obligation
10.72
+3108.38%
0.33
-93.34%
5.01
+605.06%
0.71
Current Debt
10.34
—
5.00
—
Other Current Borrowings
10.34
—
5.00
—
Current Capital Lease Obligation
0.38
+13.77%
0.33
+2469.23%
0.01
-98.17%
0.71
Current Deferred Liabilities
0.64
-40.74%
1.07
-77.53%
4.78
-31.74%
7.01
Current Deferred Revenue
0.64
-40.74%
1.07
-74.34%
4.19
0.00
Other Current Liabilities
—
—
4.15
+8.62%
3.82
Total Non Current Liabilities Net Minority Interest
26.20
-34.67%
40.10
-4.89%
42.16
-50.52%
85.20
Long Term Debt And Capital Lease Obligation
21.54
-40.16%
35.99
-5.13%
37.94
-52.27%
79.48
Long Term Debt
20.10
-41.21%
34.19
-9.88%
37.94
-51.94%
78.93
Long Term Capital Lease Obligation
1.43
-20.29%
1.80
0.00
-100.00%
0.55
Non Current Deferred Liabilities
—
—
0.00
-100.00%
0.88
Other Non Current Liabilities
4.66
+13.36%
4.11
-2.70%
4.22
-12.75%
4.84
Stockholders Equity
12.33
+64.34%
7.50
-60.45%
18.97
+12.91%
16.80
Common Stock Equity
12.33
+64.34%
7.50
-60.45%
18.97
+12.91%
16.80
Capital Stock
0.01
+100.00%
0.00
+50.00%
0.00
+100.00%
0.00
Common Stock
0.01
+100.00%
0.00
+50.00%
0.00
+100.00%
0.00
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
6.09
+120.75%
2.76
+61.65%
1.71
+30.30%
1.31
Ordinary Shares Number
6.09
+120.75%
2.76
+61.65%
1.71
+30.30%
1.31
Additional Paid In Capital
680.25
+6.80%
636.91
+5.07%
606.18
+8.40%
559.19
Retained Earnings
-667.92
-6.12%
-629.41
-7.19%
-587.21
-8.26%
-542.39
Gains Losses Not Affecting Retained Earnings
—
0.00
0.00
0.00
Total Equity Gross Minority Interest
12.33
+64.34%
7.50
-60.45%
18.97
+12.91%
16.80
Total Capitalization
32.43
-22.21%
41.69
-26.74%
56.91
-40.55%
95.73
Working Capital
35.84
-19.50%
44.52
-26.11%
60.26
-30.69%
86.94
Invested Capital
42.77
+2.58%
41.69
-32.65%
61.91
-35.33%
95.73
Total Debt
32.25
-11.21%
36.32
-15.43%
42.95
-46.44%
80.19
Capital Lease Obligations
1.81
-14.96%
2.13
+16307.69%
0.01
-98.97%
1.26
Net Tangible Assets
12.33
+64.34%
7.50
-60.45%
18.97
+12.91%
16.80
Tangible Book Value
12.33
+64.34%
7.50
-60.45%
18.97
+12.91%
16.80
Current Provisions
—
—
0.81
-92.17%
10.30
Duefrom Related Parties Current
—
0.00
-100.00%
5.39
0.00
Line Item Trend 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Operating Cash Flow
-29.38
-5.21%
-27.93
+64.61%
-78.91
+27.10%
-108.23
Cash Flow From Continuing Operating Activities
-29.38
-5.21%
-27.93
+64.61%
-78.91
+27.10%
-108.23
Net Income From Continuing Operations
-38.51
+8.74%
-42.20
+5.85%
-44.82
+68.57%
-142.60
Depreciation Amortization Depletion
0.26
-14.52%
0.30
-43.58%
0.54
-44.92%
0.97
Depreciation And Amortization
0.26
-14.52%
0.30
-43.58%
0.54
-44.92%
0.97
Other Non Cash Items
2.26
+194.60%
-2.39
-204.32%
2.29
-89.83%
22.53
Stock Based Compensation
8.39
+12.41%
7.46
+6.49%
7.01
-56.44%
16.09
Operating Gains Losses
—
—
-44.41
-923.21%
5.39
Change In Working Capital
-1.78
-120.00%
8.89
+1711.61%
0.49
+104.63%
-10.62
Change In Receivables
—
0.08
-99.48%
15.14
+363.00%
-5.76
Changes In Account Receivables
—
0.08
-99.48%
15.14
+363.00%
-5.76
Change In Inventory
0.00
-100.00%
7.54
+341.69%
1.71
+127.30%
-6.26
Change In Prepaid Assets
0.36
-93.85%
5.83
+390.39%
-2.01
+29.73%
-2.86
Change In Payables And Accrued Expense
-1.82
+57.95%
-4.33
+69.10%
-14.00
-383.15%
4.95
Change In Accrued Expense
-1.53
+36.91%
-2.42
+79.69%
-11.93
-795.80%
1.71
Change In Payable
-0.29
+84.72%
-1.90
+8.29%
-2.08
-164.25%
3.23
Change In Account Payable
-0.29
+84.72%
-1.90
+8.29%
-2.08
-164.25%
3.23
Change In Other Current Assets
0.00
+100.00%
-0.14
0.00
—
Change In Other Current Liabilities
-0.32
-2353.85%
-0.01
+96.22%
-0.34
+50.07%
-0.69
Investing Cash Flow
-0.21
+51.52%
-0.43
-100.68%
62.72
-11.42%
70.80
Cash Flow From Continuing Investing Activities
-0.21
+51.52%
-0.43
-100.68%
62.72
-11.42%
70.80
Net PPE Purchase And Sale
-0.21
+63.06%
-0.56
-182.91%
-0.20
+74.94%
-0.79
Purchase Of PPE
-0.21
+65.90%
-0.61
-94.89%
-0.31
+64.67%
-0.89
Sale Of PPE
0.00
-100.00%
0.05
-58.77%
0.11
+23.91%
0.09
Capital Expenditure
-0.21
+65.90%
-0.61
-94.89%
-0.31
+94.35%
-5.54
Net Investment Purchase And Sale
0.00
-100.00%
0.13
+1575.00%
0.01
-99.99%
76.25
Purchase Of Investment
0.00
+100.00%
-9.87
-97.64%
-4.99
0.00
Sale Of Investment
0.00
-100.00%
10.00
+100.00%
5.00
-93.44%
76.25
Net Business Purchase And Sale
—
0.00
-100.00%
62.91
0.00
Purchase Of Business
—
—
—
-4.65
Gain Loss On Sale Of Business
—
0.00
+100.00%
-46.99
0.00
Net Intangibles Purchase And Sale
—
—
0.00
+100.00%
-4.65
Purchase Of Intangibles
—
—
0.00
+100.00%
-4.65
Financing Cash Flow
29.88
+251.23%
8.51
+207.10%
-7.94
-118.66%
42.55
Cash Flow From Continuing Financing Activities
29.88
+251.23%
8.51
+207.10%
-7.94
-118.66%
42.55
Net Issuance Payments Of Debt
-5.04
+49.55%
-10.00
+75.02%
-40.04
-15123.95%
-0.26
Issuance Of Debt
—
—
0.00
-100.00%
77.78
Repayment Of Debt
-5.04
+49.55%
-10.00
+75.02%
-40.04
+48.70%
-78.05
Long Term Debt Issuance
—
—
0.00
-100.00%
77.78
Long Term Debt Payments
-5.04
+49.55%
-10.00
+75.02%
-40.04
+48.70%
-78.05
Net Long Term Debt Issuance
-5.04
+49.55%
-10.00
+75.02%
-40.04
-15123.95%
-0.26
Net Common Stock Issuance
26.43
+42.56%
18.54
-41.70%
31.80
-22.89%
41.23
Proceeds From Stock Option Exercised
0.08
+67.39%
0.05
-84.72%
0.30
-81.01%
1.58
Net Other Financing Charges
-0.12
+94.17%
-2.04
—
—
Changes In Cash
0.29
+101.44%
-19.85
+17.75%
-24.13
-571.16%
5.12
Beginning Cash Position
50.90
-28.06%
70.75
-25.44%
94.88
+5.71%
89.76
End Cash Position
51.18
+0.56%
50.90
-28.06%
70.75
-25.44%
94.88
Free Cash Flow
-29.59
-3.69%
-28.54
+63.98%
-79.22
+30.37%
-113.77
Interest Paid Supplemental Data
4.61
-0.22%
4.62
-22.46%
5.96
-12.86%
6.84
Amortization Of Securities
—
—
—
0.02
Common Stock Issuance
26.43
+42.56%
18.54
-41.70%
31.80
-22.89%
41.23
Issuance Of Capital Stock
34.96
+70.54%
20.50
-35.52%
31.80
-22.89%
41.23
Net Preferred Stock Issuance
8.54
+334.50%
1.97
0.00
—
Preferred Stock Issuance
8.54
+334.50%
1.97
0.00
—
Sale Of Business
—
0.00
-100.00%
62.91
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Trades
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status
Posts
Published Title Author Category