CSL shares plunge to 7-year low on delay in US vaccine business spinoff
Kala Bio NASDAQ:KALA Chief Business Officer Darius Kharabi sold 20,806 shares of common stock on October 22, 2025, for approximately $17,268. The sales were executed at prices ranging from $0.82 to $0.84, with the stock trading near its 52-week low of $1.10 and showing a significant 81% decline year-to-date.
Following the transaction, Kharabi directly owns 41,760 shares of Kala Bio stock, which includes 28,878 unvested restricted stock units.
The sale was reported in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Kala Bio has faced significant challenges, starting with the announcement of a default notice from Oxford Finance LLC. This notice, filed with the Securities and Exchange Commission, declared a $29.1 million loan immediately due, citing a material adverse change under the loan agreement. Additionally, Kala Bio’s KPI-012 treatment for persistent corneal epithelial defect did not meet its primary or secondary endpoints in a Phase 2b clinical trial, leading the company to discontinue development of the treatment and its mesenchymal stem cell secretome platform. The trial results showed no meaningful difference between the treatment and placebo arms, contributing to Mizuho analysts’ expectation of weakness in Kala Bio stock. Moreover, the company has scheduled its 2025 annual shareholder meeting for December 11, with further details to be disclosed in an upcoming proxy statement. These developments present a challenging period for Kala Bio as it navigates financial and clinical setbacks.
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