Kiora Pharmaceuticals Q3 Overview: KIO-301, KIO-104, and RP Treatment.

Kiora Pharmaceuticals is a biotech company focusing on ophthalmology, with a pipeline including KIO-301 and KIO-104. The company is developing KIO-301 to restore vision in patients with retinitis pigmentosa (RP). Kiora is also developing KIO-104 for the treatment of X-linked retinitis pigmentosa. The company is seeking regulatory approval for its products and has not yet achieved commercialization.

Encinitas, California — Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) reported its second quarter 2025 financial results and provided an update on its pipeline of therapeutics for the treatment of retinal diseases. The company's key achievements include initiating two active Phase 2 clinical trials and strengthening market exclusivity for one of its key compounds.

Kiora's President and CEO, Brian M. Strem, Ph.D., highlighted the progress made in the second quarter. "We materially advanced our Phase 2 clinical programs through site activations and initiating patient recruiting efforts," said Strem. The company initiated KLARITY, a Phase 2 clinical trial evaluating KIO-104 for the treatment of patients with retinal inflammation. Additionally, Kiora entered into an option agreement with Senju Pharmaceutical Co., Ltd. to develop and commercialize KIO-301 in key Asian countries, which could have a potential deal value of up to $110 million plus royalties. The company also initiated the Phase 2 ABACUS-2 clinical trial of KIO-301 for vision restoration in patients with retinitis pigmentosa.

The company's financials for the second quarter of 2025 reflect a net loss of $2.2 million, consistent with the net loss of $2.2 million in the second quarter of 2024. R&D expenses for the second quarter of 2025 were $2.6 million, before recognizing $1.7 million in reimbursable expenses from Théa. G&A expenses were $1.4 million for the second quarter of 2025, down from $1.5 million in the second quarter of 2024. The company ended the quarter with $20.7 million in cash, cash equivalents, and short-term investments, along with $2.4 million in collaboration receivables and $0.7 million in research incentive tax credits.

Kiora's pipeline includes KIO-301, a molecular photoswitch that has the potential to restore vision in patients with inherited and/or age-related retinal degeneration, and KIO-104, a next-generation, non-steroidal, immuno-modulatory, and small-molecule inhibitor of dihydroorotate dehydrogenase (DHODH). Both compounds are in the advanced stages of clinical development, with KIO-301 targeting retinitis pigmentosa, choroideremia, and Stargardt disease, and KIO-104 targeting retinal inflammation.

The company's strategic partnerships and clinical trial progress position it well for future regulatory approvals and commercialization. However, the success of these efforts is subject to risks and uncertainties, including the ability to conduct clinical trials on a timely basis, market and other conditions, and certain risk factors described in the company's filings.

References:
[1] https://www.biospace.com/press-releases/kiora-pharmaceuticals-reports-second-quarter-2025-results-company-advances-pipeline-with-two-active-phase-2-clinical-trials-for-retinal-diseases