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Kala Surges After Clinical Trial Announcement

Biotech Stock skyrocketed today after the trial result announcement !

It’s a big momentum for all shareholders of tiny Kala Pharmaceuticals.

Tweet on Kala Pharmaceuticals 

Kala official announcement in the trial

The biotech company, which aims to treat rare diseases of the eye, said Tuesday that the Food and Drug Administration has accepted the company’s investigational new drug application for its lead drug candidate, known as KPI-012.

That literally means the company can start a fresh clinical trial early next year for the drug candidate, which aims to treat a disease called ‘persistent corneal epithelial defect’

Kala shares more than doubled Wednesday morning, rising above $8 after closing Tuesday at $3.92.

The company said in a release that preliminary data from the upcoming trial should be available in early 2024.

Source:FactSet/Kala Pharmaceutics
Image:Kala inc.