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2022-12-30

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Kala Pharmaceuticals Stock Surges 16% as FDA Accepts Drug Application For Eye Condition

Shares of $Kala Pharmaceuticals Inc.$ shot up 16% in morning trading, after the biopharmaceutical company said the Food and Drug Administration accepted its investigational new drug application for KPI-012, its treatment of persistent corneal epithelial defect .With the acceptance, the company said late Tuesday that it is now turning its focus to clinical execution, and is looking to initiate a Phase 2 trial KPI-012 in the first quarter of 2023.Also with the IND acceptance and under terms of a

Kala Pharmaceuticals Stock Surges 16% as FDA Accepts Drug Application For Eye Condition

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(KALA) shot up 16% in morning trading, after the biopharmaceutical company said the Food and Drug Administration accepted its investigational new drug (IND) application for KPI-012, its treatment of persistent corneal epithelial defect (PCED).With the acceptance, the company said late Tuesday that it is now turning its focus to clinical execution, and is looking to initiate a Phase 2 trial KPI-012 in the first quarter of 2023.Also with the IND acceptance and under terms of a private placement announced last month, the company said it raised $25 million by selling a total of 43,478 shares of Series E convertible preferred stock at $575.00 a share to \"a life sciences-focused investor.\" Kala's stock has plummeted 93.5% in 2022, while the iShares Biotechnology ETF $(IBB)$ has lost 15.3% and the S&P 500  has declined 19.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":282,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":8,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}