In addition to the sale, Bazemore acquired 10,100 shares of common stock through a grant of restricted stock units, which will vest in three equal installments over the next three years. He also received stock options for 45,200 shares, which will vest incrementally over a four-year period, starting from January 6, 2025, contingent on his continued employment with the company.With analysts setting a $15 price target for KALA, according to InvestingPro data, these equity grants could represent significant value. Subscribers can access 10+ additional ProTips and detailed financial metrics to better evaluate KALA's potential.Following these transactions, Bazemore holds 91,147 shares directly, which includes 64,324 unvested RSUs.
In addition to the sale, Bazemore acquired 10,100 shares of common stock through a grant of restricted stock units, which will vest in three equal installments over the next three years. He also received stock options for 45,200 shares, which will vest incrementally over a four-year period, starting from January 6, 2025, contingent on his continued employment with the company.
Following these transactions, Bazemore holds 91,147 shares directly, which includes 64,324 unvested RSUs.
In other recent news, Kala Bio, Inc., a biopharmaceutical company, has successfully raised $10.75 million through a private placement of common and preferred stock. The funds are expected to extend Kala Bio's operational runway into the first quarter of 2026, primarily advancing the clinical development of their lead candidate, KPI-012, for persistent corneal epithelial defect (PCED). The company is currently enrolling patients in the Phase 2b CHASE trial for KPI-012, with topline data from the trial anticipated in the second quarter of 2025.
In another development, Kala Pharmaceuticals (NASDAQ:KALA) reported a lower than expected net loss of $9.0 million for the third quarter, as estimated by H.C. Wainwright, who reaffirmed its Buy rating and $15.00 stock price target for the company. The Phase 2b CHASE trial for KPI-012 is progressing, with additional clinical trial sites planned across Latin America to expedite the process.
Additionally, the company announced the immediate resignation of board member Mark S. Blumenkranz, M.D., without naming a successor. Meanwhile, Kala has secured another private placement deal led by SR One and ADAR1 Capital Management to raise approximately $12.5 million, earmarked for furthering the clinical development of KPI-012. These are among the recent developments that investors should note.
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