KALA BIO Reports First Quarter 2024 Financial Results and Provides Corporate Update
ARLINGTON, Mass., May 14, 2024 (GLOBE NEWSWIRE) -- KALA BIO, Inc. (NASDAQ:KALA), a clinical-stage biopharmaceutical company dedicated to the research, development and commercialization of innovative therapies for rare and severe diseases of the eye, today reported financial results for the first quarter ended March 31, 2024 and provided a corporate update.
- Cash Position: As of March 31, 2024, KALA had cash and cash equivalents of $48.5 million, compared to $50.9 million as of December 31, 2023.
- First Quarter 2024 Financial Results:
G&A Expenses: For the quarter ended March 31, 2024, general and administrative (G&A) expenses were $5.4 million, compared to $6.0 million for the same period in 2023. - Operating Loss: For the quarter ended March 31, 2024, loss from operations was $11.9 million, compared to $11.7 million for the same period in 2023.
- The weighted average number of shares used to calculate net loss per share was 2.8 million for the quarter ended March 31, 2024, and 2.1 million for the quarter ended March 31, 2023.