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In a recent SEC filing, Kala Bio, Inc. (NASDAQ:KALA) reported that Mark Iwicki, a director of the company, sold 10,866 shares of common stock. The transaction, executed on June 3, 2025, was valued at approximately $40,638. The shares were sold at a weighted average price of $3.74, with individual transaction prices ranging from $3.52 to $4.05. The stock, currently trading at $4.17, has shown strong momentum with a 12.1% gain over the past week, though it remains well below its 52-week high of $11.20.
This sale was made under a 10b5-1 trading plan that Iwicki adopted on November 9, 2020, to cover tax withholding obligations related to the vesting and settlement of restricted stock units granted on May 31, 2023. Following the transaction, Iwicki holds 269,210 shares, which include 154,042 unvested restricted stock units. InvestingPro analysis reveals the company holds more cash than debt on its balance sheet, though it’s quickly burning through cash reserves. Get access to 10+ additional ProTips and comprehensive insider trading analysis with InvestingPro.
In other recent news, Kala Bio has been the focus of analyst attention and clinical trial developments. The company reported a net loss of $8.9 million for the first quarter of 2025, which was slightly better than analysts’ estimates of a $9.6 million loss. This financial update coincides with ongoing progress in the Phase 2b CHASE trial of KPI-012, aimed at treating persistent corneal epithelial defect (PCED). The trial is on track, with expectations to release topline data in the third quarter of 2025. Oppenheimer has maintained its Outperform rating with a $15 price target, while H.C. Wainwright adjusted its price target from $15 to $12 but retained a Buy rating.
The clinical trial is expanding its reach, adding more sites in Latin America to meet its enrollment goals. KPI-012 holds Fast Track Designation, highlighting its potential in a market with no FDA-approved treatments for PCED. Additionally, Kala Bio announced executive retention bonuses to ensure leadership stability during this critical period. These bonuses are contingent on the executives remaining with the company until the trial results are announced or until September 30, 2025. As the company continues its efforts, analysts remain optimistic about the potential outcomes of the trial and its impact on Kala Bio’s future.
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