Business
Kala Pharmaceuticals Reports First Quarter 2021 Financial Results and Provides Corporate Update
-- Achieved $3.3 Million in Net Revenue in First Quarter -- -- Launched EYSUVIS® and Expanded Commercial Coverage to More than 69 Million Commercial Lives --
About this update from Kala Bio, Inc.
[{"type":"text","content":"\n-- Achieved $3.3 Million in Net Revenue in First Quarter --\n\n-- Launched EYSUVIS® and Expanded Commercial Coverage to More than 69 Million Commercial Lives --\n\n-- New Credit Facility Provides up to $125M -- \n\n-- Cash Runway Projected for at Least Two Years -- \n\n-- Conference Call and Webcast at 8:00 a.m. ET --\n\n WATERTOWN, Mass.--(BUSINESS WIRE)--\nKala Pharmaceuticals, Inc. (NASDAQ:KALA), a biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for diseases of the eye, today reported financial results for the first quarter ended March 31, 2021 and provided a corporate update.\n\n“We are early in the launch of EYSUVIS and encouraged by our progress to establish the product as the first and only prescription therapy specifically for the short-term treatment of dry eye disease. We have secured market access for approximately 43 percent of all commercial lives and are pleased with the early launch metrics and feedback from eye care professionals who view EYSUVIS as a first-line treatment option for a range of patients suffering from dry eye flares,” said Mark Iwicki, Chairman, President and Chief Executive Officer of Kala Pharmaceuticals. “The new credit facility announced today helps extend our projected cash runway to at least two years, strengthening our financial position to invest across our business as we build on early EYSUVIS momentum, continue to promote INVELTYS and advance our pipeline of new chemical entities targeted to address front and back of the eye diseases.”\n\nFirst Quarter and Recent Business Highlights:\n\nEYSUVIS® (loteprednol etabonate ophthalmic suspension) 0.25%: EYSUVIS became commercially available in January 2021 as the first and only FDA-approved medicine for the short-term (up to two weeks) treatment of the signs and symptoms of dry eye disease. Data from Symphony Health and the EYSUVIS patient hub indicate that more than 11,600 EYSUVIS prescriptions were filled between early January 2021 and April 23, 2021. Data also indicates that more than 2,000 unique prescribers have written prescriptions for EYSUVIS for the same time period. Kala currently has a sales force of 91 ophthalmic sales professionals. Kala plans to expand this sales force to approximately 105 by the start of the third quarter of 2021, with a subsequent expansion to 125 ...