KALA Stock — KALA BIO Inc.: Cash, EV, Pipeline

Share price

$0.54

Market cap

$10.4M

Cash

$7.2M

Enterprise value

$30.1M

Balance sheet

Cash	$7.2M
Debt	$26.9M
Net cash	-$19.7M
Enterprise value	$30.1M
Basic shares	19.3M shares
Fully diluted shares	19.4M shares
Fully diluted market cap	$10.5M
Cash per share	$0.37

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

KPI-012

Phase 2 · Terminated Modality: mesenchymal stem cell secretome (MSC-S)

Indications

Persistent corneal epithelial defects (PCED) (Phase 2)

Status note CHASE Phase 2b trial did not meet primary endpoints; development of KPI-012 and the MSC-S platform discontinued by September 2025. Had received Orphan Drug and Fast Track designations for PCED (April 2023).

KPI-014

Stage not disclosed · Active Modality: mesenchymal stem cell secretome (MSC-S)

Status note Legacy portfolio asset; the company is preserving and seeking to monetize via licensing/collaboration. No ongoing clinical trials as of June 30, 2026; preclinical activities contingent on funding and partners.

Per-asset detail extracted from the 10-Q filed 2026-08-19. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	0	-141,480	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

KALA — KALA BIO Inc.

Balance sheet

Price history

Pipeline assets

Institutional holders