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Short-Term Investor Stock KALA Gains 79.7%

The stock, Kala Pharmaceuticals Inc. (KALA), featured on our 'Short-Term Investor' on March 9, 2020, at an opening price of $6.31. On April 27, 2020, the stock touched a 52-week high of $11.34, representing a gain of 79.7%. The stock closed yesterday's trade at $9.96.

Why we published this stock?

Kala Pharmaceuticals Inc. (KALA) reported positive topline results from STRIDE 3, a Phase 3 clinical trial evaluating KPI-121 0.25%.

Kala Pharma plans to commercialize KPI-121 0.25% under the brand name EYSUVIS (loteprednol etabonate ophthalmic suspension) 0.25%, for the treatment of dry eye disease.

STRIDE 3 met both of its primary efficacy endpoints, demonstrating a statistically significant improvement in the symptom endpoint of ocular discomfort severity (ODS) at day 15 in the overall intent-to-treat (ITT) population and in the predefined subgroup of ITT patients with more severe ocular discomfort at baseline.

Statistical significance was also achieved in the key secondary endpoints of conjunctival hyperemia at day 15 in the ITT population and ODS at day 8 in the ITT population. Significant results were also observed for total corneal staining at day 15 in the ITT population. EYSUVIS was well tolerated, with adverse events and intraocular pressure increases comparable to vehicle.

Further, Kala plans to utilize these data as the basis for a Class 2 resubmission of the New Drug Application (NDA) for EYSUVIS in the second quarter of 2020, with an expected six-month review timeline by the FDA.

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03/07/2019 FLY + 81.83
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09/21/2018 CCXI + 339
11/23/2017 ARGX + 302
02/05/2018 VKTX + 295
01/18/2018 ADVM + 218
06/06/2018 CSBR + 216
03/26/2020 MRNA + 216
04/06/2020 TBIO + 184
03/03/2020 OVID + 181
04/08/2019 SOLY + 170
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