Business
Kala Pharmaceuticals Reports Fourth Quarter and Full Year 2021 Financial Results and Provides Corporate Update
-- Achieved $11.2 Million in Net Revenue in 2021 ---- Expanded Coverage for EYSUVIS® to 118 Million Commercial Lives and 7.1 Million Medicare Lives ----
About this update from Kala Bio, Inc.
[{"type":"text","content":"-- Achieved $11.2 Million in Net Revenue in 2021 ---- Expanded Coverage for EYSUVIS® to 118 Million Commercial Lives and 7.1 Million Medicare Lives ---- KPI-012 Phase 1b Clinical Data Accepted for Presentation at ARVO; Initiation of Phase 2/3 Clinical Trial of KPI-012 expected in 4Q 2022 ---- Conference Call and Webcast at 8:00 a.m. ET -- ARLINGTON, Mass., March 29, 2022 (GLOBE NEWSWIRE) -- Kala Pharmaceuticals, Inc. (NASDAQ:KALA), a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for diseases of the eye, today reported financial results for the fourth quarter and full year ended December 31, 2021 and provided a corporate update. “In recent months, we have made meaningful progress toward our goal of establishing EYSUVIS as the preferred first line prescription therapy for mild or moderate dry eye disease, and we are pleased to report a 21% increase in prescriptions for the fourth quarter of 2021 relative to the prior quarter,” said Mark Iwicki, Chairman and Chief Executive Officer of Kala. “We believe this prescription growth is a positive indicator and will be enhanced by our recently launched direct-to-consumer marketing campaign, as well as expanded commercial and Medicare coverage, which together now account for over 125 million total lives.” Mr. Iwicki continued, “In parallel, we continue to progress our portfolio of innovative medicines for diseases of the front and back of the eye, including KPI-012, our novel investigational secretome therapy, and KPI-287, our potent and selective tyrosine kinase inhibitor candidate. We look forward to sharing data from the completed Phase 1b clinical trial of KPI-012 at the ARVO Annual Meeting in the second quarter and expect to initiate our Phase 2/3 development program in the fourth quarter of 2022, as we advance KPI-012 to address the unmet needs in persistent corneal epithelial defect (PCED) and additional indications.” Fourth Quarter and Recent Business Highlights: Commercial Portfolio: EYSUVIS® (loteprednol etabonate ophthalmic suspension) 0.25%: EYSUVIS became commercially available in January 2021 as the first and only U.S. Food and Drug Administrative (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 indicate...