KALA BIO Inc. announced on Monday, September 30, 2025, that its CHASE Phase 2b trial of KPI‑012 for persistent corneal epithelial defect (PCED) did not meet the primary endpoint of complete healing as measured by corneal fluorescein staining. The trial also failed to achieve statistical significance for key secondary efficacy endpoints and showed no meaningful difference between the KPI‑012 treatment arm and placebo.
In light of the CHASE trial results, KALA declared it would cease development of KPI‑012 and its mesenchymal stem cell secretome (MSC‑S) platform. The company also said it would evaluate strategic options, engage its secured lender, reduce workforce, and implement other cost‑saving measures to preserve cash. KALA had cash and cash equivalents of $31.9 million as of June 30, 2025, which the company expects to fund operations into the first quarter of 2026.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.