KALA

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KALA BIO, Inc.

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Key Metrics

Previous Close: $0.90
52-Week Range: $0.59 – $1,030.00
Market Cap: $16.25M
P/E (TTM): —
EPS (TTM): -9.39
Dividend Yield: —

Advanced Metrics

Price/Book: 1.45
PEG Ratio: —
Return on Equity: -238.68%
Return on Assets: -69.27%
Gross Margin: 0.00%
Operating Margin: 0.00%
Profit Margin: 0.00%
Current Ratio: 7.91
Debt/Equity: —
Total Debt: $0.00
Free Cash Flow: $-20.64M
Revenue Growth: —
Earnings Growth: —
Enterprise Value: $7.97M

KALA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$3.89M	$0.00	$0.00	$0.00
Cost of Revenue	$2.56M	$0.00	—	—
Gross Profit	$1.33M	$0.00	—	—
Research & Development	$17.65M	$18.59M	$22.09M	$18.78M
Selling, General & Admin	$65.03M	$20.57M	$18.34M	$23.63M
Operating Expenses	$82.69M	$34.33M	$34.23M	$39.03M
Operating Income	-$81.36M	-$34.33M	-$34.23M	-$39.03M
EBITDA	-$37.02M	-$36.08M	-$32.47M	-$23.39M
Pretax Income	-$44.82M	-$42.20M	-$38.51M	-$26.98M
Net Income	-$44.82M	-$42.20M	-$38.51M	-$26.98M
Diluted EPS	-1474.00	-867.50	-507.50	-165.50
Diluted Shares	30412	48640	75920	162965

KALA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$70.50M	$50.90M	$51.18M	$7.56M
Receivables	$6.50M	$236.00K	—	—
Inventory	$0.00	—	—	—
Current Assets	$85.94M	$52.87M	$52.80M	$9.49M
Total Assets	$86.82M	$55.95M	$55.48M	$9.49M
Current Liabilities	$25.68M	$8.35M	$16.96M	$2.49M
Long-Term Debt	$37.94M	$34.19M	$20.10M	—
Total Debt	$42.95M	$36.32M	$32.25M	$0.00
Total Liabilities	$67.85M	$48.45M	$43.15M	$2.49M
Retained Earnings	-$587.21M	-$629.41M	-$667.92M	-$694.90M
Shareholders' Equity	$18.97M	$7.50M	$12.33M	$7.00M
Working Capital	$60.26M	$44.52M	$35.84M	$7.00M

KALA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$78.91M	-$27.93M	-$29.38M	-$31.99M
Capital Expenditure	-$313.00K	-$610.00K	-$208.00K	-$15.00K
Free Cash Flow	-$79.22M	-$28.54M	-$29.59M	-$32.01M
Depreciation & Amortisation	$537.00K	$303.00K	$259.00K	$317.00K
Stock-Based Compensation	$7.01M	$7.46M	$8.39M	$7.00M
Investing Cash Flow	$62.72M	-$429.00K	-$208.00K	-$15.00K
Financing Cash Flow	-$7.94M	$8.51M	$29.88M	-$11.62M
Net Change in Cash	-$24.13M	-$19.85M	$286.00K	-$43.62M

KALA Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$0.00	$0.00	$0.00	$0.00	$0.00
Research & Development	$6.05M	$6.23M	$6.13M	$366.00K	$61.00K
Selling, General & Admin	$4.59M	$4.64M	$4.53M	$9.86M	$1.74M
Operating Expenses	$8.30M	$10.33M	$10.18M	$10.22M	$1.80M
Operating Income	-$8.30M	-$10.33M	-$10.18M	-$10.22M	-$1.80M
EBITDA	-$7.79M	-$10.01M	-$6.47M	$881.00K	-$1.62M
Pretax Income	-$8.95M	-$11.15M	-$7.56M	$686.00K	-$1.62M
Net Income	-$8.95M	-$11.15M	-$7.56M	$686.00K	-$1.62M
Diluted EPS	-70.49	-85.50	-53.50	—	-7.00
Diluted Shares	126917	130262	140849	—	237471

KALA Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$42.22M	$31.94M	$21.10M	$7.56M	$1.76M
Receivables	$2.47M	$127.00K	$8.00K	—	$74.00K
Current Assets	$45.72M	$33.66M	$24.27M	$9.49M	$12.32M
Total Assets	$48.25M	$36.05M	$25.02M	$9.49M	$12.32M
Current Liabilities	$22.98M	$16.02M	$32.57M	$2.49M	$1.56M
Long-Term Debt	$15.12M	$18.79M	—	—	—
Total Debt	$32.35M	$29.93M	$29.94M	$0.00	—
Total Liabilities	$42.54M	$39.26M	$33.69M	$2.49M	$1.56M
Retained Earnings	-$676.87M	-$688.02M	-$695.59M	-$694.90M	-$696.52M
Shareholders' Equity	$5.71M	-$3.21M	-$8.66M	$7.00M	$10.76M
Working Capital	$22.74M	$17.65M	-$8.30M	$7.00M	$10.76M
Net Debt	—	—	$7.32M	—	—

KALA Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$8.82M	-$7.73M	-$10.88M	-$4.56M	-$2.90M
Free Cash Flow	-$8.82M	-$7.75M	-$10.88M	-$4.56M	-$2.90M
Depreciation & Amortisation	$68.00K	$67.00K	$128.00K	$54.00K	$0.00
Stock-Based Compensation	$2.31M	$2.24M	$2.04M	$401.00K	-$471.00K
Investing Cash Flow	$0.00	-$16.00K	$1.00K	$0.00	-$7.00M
Financing Cash Flow	-$135.00K	-$2.53M	$30.00K	-$8.98M	$4.10M
Net Change in Cash	-$8.96M	-$10.28M	-$10.85M	-$13.54M	-$5.79M

Market Snapshot

About

KALA BIO, Inc. is a clinical-stage biopharmaceutical company focused on developing therapies for rare and severe eye diseases. The company's proprietary mucus-penetrating particle (MPP) technology platform enables enhanced drug delivery to ocular tissues. KALA BIO's pipeline includes treatments for diseases affecting the back of the eye, including geographic atrophy and other retinal disorders. The company is advancing multiple clinical programs aimed at addressing significant unmet medical needs in ophthalmology.