Kala Pharmaceuticals Inc. (NASDAQ: KALA) has reported financial results for Q3 2021 ending September 30, 201, and offered a corporate update.
Kala generated revenue of $3.1 million in Q2 2021
The company reported net product revenue of $3.1 million, comprising $1.83 million in EYSUVIS sales and $1.24 million from INVELTYS sales. In Q3 2021, 18,537 EYSUVIS prescriptions represented a QoQ growth of 19%. As of November 5, 2021, around 50,862 EYSUVIS prescriptions had been filled. INVELTYS prescriptions in Q3 2021 were 37,410, declining from 41,103 due to weaknesses in Ocular surgery and INVELTYS’ removal from Caremark/CVS formulary coverage.
CEO Mark Iwicki said, “We continue to receive positive feedback from physicians and patients on EYSUVIS and saw 19% prescription growth in the third quarter compared to the prior quarter. In parallel, we continue to invest in advancing our pipeline and today announced the acquisition of Combangio and its lead product candidate, now known as KPI-012, a novel biologic for the treatment of rare ocular surface diseases. We believe that together with our rTKI and SEGRM programs, KPI-012 will serve as a key foundation for our long-term growth. We look forward to submitting an investigational new drug application to the U.S. Food and Drug Administration for KPI-012 and, subject to regulatory clearance, initiating a Phase 2/3 trial for persistent corneal epithelial defect in the third quarter of 2022.”
Kala Pharmaceuticals acquires Combangio
Kala Pharmaceuticals has announced the acquisition of ocular surfaces diseases regenerative therapies developer, Combangio Inc. Combangio is working on a secretome therapy, CMB-012, to address the complicated wound healing course in persistent corneal epithelial defect and other ocular diseases resulting from impaired corneal healing.
Iwicki commented, “Today’s acquisition marks a pivotal moment for Kala and a meaningful acceleration toward our goal of strengthening Kala’s pipeline for the treatment of front and back of the eye diseases. [KPI-012] is a natural fit with our R&D and commercial expertise, and along with our internal pipeline provides an additional opportunity to leverage our deep ophthalmic expertise to address substantial, underserved markets.”