Romulus K. Brazzell, the Head of Research and Development and Chief Medical (TASE:PMCN) Officer at KALA BIO, Inc. (NASDAQ:KALA), recently executed a stock transaction involving the sale of company shares. On January 6, 2025, Brazzell sold 2,446 shares of KALA BIO common stock, generating a total of $18,662. The shares were sold at a weighted average price of $7.63, with individual transaction prices ranging from $7.48 to $7.63. The transaction comes as KALA shares show strong momentum, with InvestingPro data showing an 11% gain in the past week.
Additionally, Brazzell acquired 10,100 shares of restricted stock units (RSUs) under the company’s Amended and Restated 2017 Equity Incentive Plan, which will vest over the next three years. He also received 45,200 stock options, exercisable at $7.53 per share, vesting monthly over four years. According to InvestingPro analysis, while KALA maintains a current ratio of 2.15, indicating strong short-term liquidity, the company faces cash burn challenges.
These transactions reflect Brazzell’s ongoing involvement and investment in KALA BIO, as he continues to hold a significant number of shares and options in the company. With analysts setting a $15 price target and the stock showing negative correlation to broader market movements (beta: -2.11), KALA presents an interesting investment case. InvestingPro subscribers can access 12 additional investment tips and detailed financial metrics for comprehensive analysis.
In other recent news, Kala Bio, Inc. has successfully raised $10.75 million through a private placement of common and preferred stock to institutional investors. This funding is expected to extend the company’s operational runway into the first quarter of 2026. The proceeds will be used to advance the clinical development of their lead candidate, KPI-012, for persistent corneal epithelial defect (PCED), among other corporate purposes.
Also, Kala Bio is currently enrolling patients in the Phase 2b CHASE trial for KPI-012. Topline data from the trial is anticipated in the second quarter of 2025, which could potentially lead to the first of two pivotal trials for a Biologics License Application (BLA) submission.
In other developments, H.C. Wainwright has reaffirmed its Buy rating and $15.00 stock price target for Kala Pharmaceuticals (NASDAQ:KALA), following a lower than expected net loss of $9.0 million for the third quarter. The company is also progressing with its Phase 2b CHASE trial for KPI-012, with top-line results expected in the second quarter of 2025.
Lastly, Kala Bio has reported the immediate resignation of board member Mark S. Blumenkranz, M.D., from both the board and its committees. The company has not yet named a successor. These are the recent developments in Kala Bio, Inc.
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