Kala Bio Inc · Q4 2020 earnings

Briefing

Kala Pharmaceuticals reported financial results for Q4 and full year 2020 and provided a corporate update.

Kala Pharmaceuticals reported a net product revenue of $2.2 million for the quarter ended December 31, 2020, which includes $1.9 million from INVELTYS sales and $0.3 million from EYSUVIS sales. The company's cash, cash equivalents, and short-term investments totaled $153.5 million as of December 31, 2020 and anticipates that its cash resources as of December 31, 2020, together with anticipated INVELTYS revenue and the $18.2 million in net proceeds raised in January 2021 under the Company’s ATM offering program, will enable it to fund its operations into at least the fourth quarter of 2022.

• EYSUVIS became commercially available in January 2021 and has secured formulary access with Express Scripts.
• As of February 12, more than 2,200 EYSUVIS prescriptions were filled by over 550 unique prescribers.
• Approximately 41,000 INVELTYS prescriptions were reported in Q4 2020, an increase of approximately eight percent compared to Q3 2020.
• Kala anticipates that its cash resources as of December 31, 2020, together with anticipated INVELTYS revenue and the $18.2 million in net proceeds raised in January 2021 under the Company’s ATM offering program, will enable it to fund its operations into at least the fourth quarter of 2022.

Headline financials

Revenue & EPS history

Kala anticipates that its cash resources as of December 31, 2020, together with anticipated INVELTYS revenue and the $18.2 million in net proceeds raised in January 2021 under the Company’s ATM offering program, will enable it to fund its operations into at least the fourth quarter of 2022