Business
Kala Reports First Quarter 2022 Financial Results and Provides Corporate Update
- Expanded Coverage for EYSUVIS® to 92% of Total Commercial Lives and 30% of All Medicare Lives - - Achieved 18% EYSUVIS Prescription Growth in 1Q 2022 - -
About this update from Kala Bio, Inc.
[{"type":"text","content":"- Expanded Coverage for EYSUVIS® to 92% of Total Commercial Lives and 30% of All Medicare Lives - - Achieved 18% EYSUVIS Prescription Growth in 1Q 2022 - - Presented KPI-012 Phase 1b Clinical Data at ARVO; Initiation of Phase 2/3 Clinical Trial in PCED Expected 4Q 2022 - - Conference Call and Webcast at 8:00 a.m. ET - ARLINGTON, Mass., May 16, 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 first quarter ended March 31, 2022 and provided a corporate update. “Since our founding, we have been committed to developing innovative medicines that can better treat diseases of the front and back of the eye and we have advanced two products to market, which address significant unmet needs in dry eye disease and post-ocular surgery,” said Mark Iwicki, Chief Executive Officer and Chairman of Kala. “Securing broad market access so prescriptions can be filled at reasonable costs is of paramount importance in the success of any commercial launch. I’m very pleased that in recent months, we have made meaningful progress toward our goal of increasing payer coverage for EYSUVIS. We recently expanded EYSUVIS coverage to more than 90% of commercial lives and 30% of Medicare lives, which we believe will enable more prescriptions to be filled and support long-term revenue growth. As we have been working to expand market access, we have used patient assistance programs to help ensure prescriptions are filled and have seen increased usage in the first quarter of 2022, representing an increased demand for EYSUVIS but also negatively impacting our net revenues. With the recent expansion in payor coverage, we expect our patient assistance programs to have less of an impact on average selling price, and thus net revenue, in the future.” Kala continues to progress the development of KPI-012, and believes it has broad potential to change the standard of care in persistent corneal epithelial defect (PCED), as well as other rare and severe ocular diseases. The Company expects to initiate a Phase 2/3 clinical trial of KPI-012 for PCED later this year, subject to regulatory clearance, and plans to provide updates on its indication expansion strategy in ...