Kala Bio Announces $10 Million Direct Stock Offering, Shares Rise

Kala Bio has reported a $10 million direct stock offering, causing its shares to rise. The clinical-stage biopharmaceutical company is focused on researching and developing therapies for rare and severe eye diseases. Its lead product candidate, KPI-012, is a human mesenchymal stem cell secretome that aims to correct impaired corneal healing in diseases such as persistent corneal epithelial defect, limbal stem cell deficiency, and other rare corneal diseases.