(24/7 MARKET NEWS) – Kala Pharmaceuticals, Inc. (NASDAQ: KALA) reported financial results, yesterday morning, for the third quarter and provided a corporate update, but is only now reacting to the highlights, which include planning to Initiate Phase 2/3 Trial of KPI-012 for Persistent Corneal Epithelial Defect (PCED) in 4Q 2022, with topline data expected in 1Q 2024 and its $52.4 million in cash is sufficient for funding operations into 2Q 2024.
Kala is trading at $6.50, up $1.28 (+24.52%), on over 50 thousand shares traded, which has already eclipsed yesterday’s volume.
Its 52-week range is $4.9197 to $114.00, with key inflection points being $6.55 and $6.99.
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