Catalyst Dossier · compiled by CeliA 🧫
Kala Pharmaceuticals, Inc. (KALA)
Pharmaceutical Preparations · market cap $25M · as of 2026-07-18
Research and calibrated estimates, not financial advice — verify before acting.
Next catalyst
None scheduled
Pipeline
5
programs
Upcoming events
0
next 90d+
Dossier
Ready
cached
Kala Pharmaceuticals (KALA) is a micro-cap ophthalmic drug developer with a $16M market cap and 38 employees, focused entirely on KPI-121, a suspension formulation in multiple Phase 2/3 trials across dry eye disease, post-surgical ocular inflammation, and keratoconjunctivitis sicca. The company carries just $1.8M in cash — roughly 1.8 months of runway — making near-term dilution or a financing event essentially certain.
The catalyst path
No upcoming catalysts in our calendar.
Pipeline
| Asset | Phase | Indication |
|---|---|---|
| KPI-121 | Phase 2 | Dry Eye Syndromes |
| KPI-121 Ophthalmic Suspension | Phase 3 | Kerato Conjunctivitis Sicca |
| KPI-121 1% Ophthalmic Suspension dosed BID | Phase 3 | Post Surgical Ocular Inflammation and Pain |
| KPI-121 0.25% Ophthalmic Suspension | Phase 3 | Dry Eye Syndromes |
| KPI-121 1.0% | Phase 3 | Ocular Infections, Irritations and Inflammations |
Price & technical context
3-month
-69.8%
6-month
-95.4%
12-month
-99.8%
52-wk range
$0.61–$981.50
vs 50-day MA
-41.3%
vs 200-day MA
-94.4%
Realized vol
261.2%
Max drawdown
-99.9%
Daily closes through 2026-08-13. Realized vol annualized; max drawdown over ~2 years.
The full dossier is a Pro feature
Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.
Sources & data
- SEC filings — EDGAR filings for KALA (10-K, 10-Q, S-3, 13D/G, Form 4)
- Clinical trials — 5 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
- Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
- Regulatory — openFDA, FDA advisory & PDUFA calendars.
Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.
Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.