KALA BIO, Inc.

Listed Company

KALACIK 0001479419NasdaqNon-AcceleratedSmaller ReportingPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

—

Total Assets

$9.49M

Equity

$7.00M

Shares Out

929.49M

Op. Cash Flow

$-31.99M

Business

KALA BIO, Inc. is a clinical-stage biopharmaceutical company dedicated to researching, developing and commercializing innovative therapies for rare and severe diseases of the front and back of the eye. It develops mesenchymal stem cell secretome (MSC‑S) product candidates, primarily KPI‑012 for persistent corneal epithelial defects and KPI‑014 in preclinical development for inherited retinal degenerative diseases, and previously developed AMPPLIFY®‑based ophthalmic products. Key business areas include clinical development and regulatory programs for its MSC‑S platform, intellectual property and licensing, manufacturing partnerships and business development. It conducts clinical trials in the United States and Latin America and plans U.S. commercialization with a small targeted sales force while exploring distribution and collaboration arrangements in other markets.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
General and administrative	24	18	21	—	—
Research and development	19	22	19	18	12
(Gain) loss on fair value remeasurement of contingent consideration	−5	549,000	740,000	−288,000	—
Impairment of right-of-use assets	1	—	—	—	—
Total costs and expenses	39	41	40	86	141
Loss from operations	−39	−41	−40	−82	−130
Interest income	1	2	3	664,000	104,000
Interest expense	−3	−6	−6	—	—
Grant income	3	6	5	—	—
Gain on extinguishment of debt	6	—	—	−3	−5
Other income (expense), net	5	—	−4	−926,000	—
Total other income (expense)	12	2	−3	37	−12
Net loss	−27	−39	−42	−45	−143
Net loss per share attributable to common stockholders-basic (in dollar per share)	−3.31	−10.15	−17.35	−29.48	−108.32
Net loss per share attributable to common stockholders-diluted (in dollar per share)	−3.31	−10.15	−17.35	−29.48	−108.32
Weighted average shares outstanding-basic (in shares)	8	4	2	2	1
Weighted average common shares outstanding -diluted (in shares)	8	4	2	2	1
Total comprehensive loss	−27	−39	−42	−45	−143

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	8	51	51	70	92
Prepaid expenses and other current assets	2	2	2	8	6
Total current assets	9	53	53	86	124
Property and equipment, net	—	749,000	753,000	400,000	3
Right-of-use assets	—	2	2	16,000	1
Other long-term assets	—	246,000	301,000	462,000	1
Total assets	9	55	56	87	139
Accounts payable	986,000	628,000	919,000	3	5
Accrued expenses and other current liabilities	2	5	6	—	—
Deferred grant income	—	637,000	1	—	—
Current portion of lease liabilities	—	380,000	334,000	13,000	711,000
Current portion of long-term debt	—	10	—	5	—
Total current liabilities	2	17	8	26	37
Long-term lease liabilities	—	1	2	—	548,000
Long-term debt, net of current portion	—	20	34	38	79
Long-term contingent consideration	—	5	4	4	5
Total long-term liabilities	—	26	40	42	85
Total liabilities	2	43	48	68	123
Commitments and Contingencies (Note 14)	—	—	—	—	—
Preferred stock, $0.001 par value; 5,000,000 shares authorized as of December 31, 2025 and 2024	1,000	—	—	—	—
Common stock, $0.001 par value; 120,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 27,849,725 and 6,091,182 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	28,000	6,000	3,000	2,000	1,000
Additional paid-in capital	702	680	637	606	559
Accumulated deficit	−695	−668	−629	−587	−542
Total stockholders' equity	7	12	8	19	17
Total liabilities and stockholders' equity	9	55	56	87	139

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−27	−39	−42	−45	−143
Depreciation and amortization	317,000	259,000	303,000	537,000	975,000
Non-cash operating lease cost	280,000	334,000	171,000	439,000	1
Amortization of debt discount and other non-cash interest	−667,000	1	1	1	2
Stock-based compensation	7	8	7	7	16
Issuance of Common Stock for service rendered	2	—	—	—	—
Issuance of Common Stock for Settlement Agreements	524,000	—	—	—	—
Loss on sale or disposal of property and equipment	549,000	—	—	—	—
Other non-cash losses	—	129,000	−4	76,000	173,000
Prepaid expenses and other current assets	−317,000	359,000	6	−2	−3
Other long-term assets	144,000	—	−144,000	—	—
Accounts payable	358,000	−291,000	−2	−2	3
Accrued expenses and other current liabilities	−4	−2	−2	−12	2
Lease liabilities and other long-term liabilities	−2	−319,000	−13,000	−344,000	−689,000
Net cash used in operating activities	−32	−29	−28	−79	−108
Purchases of property and equipment and other assets	−15,000	−208,000	−610,000	−313,000	−886,000
Net cash used in investing activities	−15,000	−208,000	−429,000	63	71
Payment of principal and payment fee on debt	−22	−5	−10	−40	−78
Payment of issuance costs from issuance of common stock and Series I preferred stock	−120,000	—	—	—	—
Proceeds from issuance of Series AA preferred stock	2	—	—	—	—
Proceeds from issuance of common stock and Series H preferred stock, net of issuance costs of $218	—	12	—	—	—
Proceeds from common stock offerings, net of offering costs of $866	9	3	19	1	41
Proceeds from issuance of common stock and Series I preferred stock	—	11	—	—	—
Contingent consideration related to Combangio acquisition	—	−119,000	−2	—	—
Payment of principal on finance lease	−92,000	−45,000	—	−39,000	−35,000
Proceeds from exercise of stock options and issuance of common stock under employee stock purchase plan	73,000	77,000	46,000	301,000	2
Net cash (used in) provided by financing activities	−12	30	9	−8	43
Net (decrease) increase in cash and cash equivalents:	−44	286,000	−20	−24	5
Issuance of common stock to satisfy service contract in additional paid-in capital	2	29,000	—	—	—
Cash paid for interest	3	5	5	6	7
Right-of-use assets obtained in exchange of finance lease obligations	—	160,000	2	424,000	1

Filings

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