KALA BIO, Inc.
KALANasdaqHealthcare · Pharmaceutical Preparations · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $3.9M | $11.2M | $6.4M |
| Operating income | −$39.2M | −$41.0M | −$39.7M | −$81.7M | −$130.2M | −$96.2M |
| Net income | −$27.0M | −$38.5M | −$42.2M | −$44.8M | −$142.6M | −$104.3M |
| Total assets | $9.5M | $55.5M | $55.9M | $86.8M | $139.4M | $221.6M |
| Total liabilities | $2.5M | $43.2M | $48.4M | $67.8M | $122.6M | $121.6M |
| Equity | $7.0M | $12.3M | $7.5M | $19.0M | $16.8M | $100.0M |
| EPS (diluted) | $-3.31 | $-10.15 | $-17.35 | $-29.48 | $-108.32 | $-1.99 |
| Shares out. | 6.5M | 2.8M | 2.0M | 72.6M | 61.6M | 36.8M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −385.6%
- Return on assets
- −284.3%
- Return on capital (ROCE)
- −559.8%
- Liabilities / assets
- 26.3%
- Debt / equity
- 0.36×
- Book value / share
- $1.08
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -258.66distress
- Accruals / assets
- 52.8%high accruals
- Piotroski F-Score
- 2/8weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 2 warning● 1 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Negative operating cash flow
- High accruals — earnings-quality risk
- Conservative leverage (liabilities < 50% of assets)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Kmissed a reporting deadline ↗Mar 31, 2026
- NT 10-Qmissed a reporting deadline ↗Nov 14, 2025
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Baker Bros. Advisors LpActivist (13D)May 15, 2026
- Lazar David E.Activist (13D)Feb 6, 2026
- Lifesci Capital, LlcPassive (13G)Jan 13, 2026
- Oxford Finance LlcPassive (13G)Dec 3, 2025
- Perceptive Advisors LlcPassive (13G)Nov 14, 2025
- Cormorant Asset Management, LpPassive (13G)Nov 14, 2025
- Point72 Asset Management, L.P.Passive (13G)Nov 14, 2025
- Sr One Capital Management, LlcActivist (13D)Oct 15, 2025
- Millennium Management LlcPassive (13G)May 12, 2025
- Adar1 Capital Management, LlcPassive (13G)Feb 14, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 42,592 | 1.0 | -95.9% |
| Apr 30, 2026 | 1.0M | 1.0 | -2.8% |
| Apr 15, 2026 | 1.1M | 1.0 | -6.9% |
| Mar 31, 2026 | 1.1M | 1.0 | -83.3% |
| Mar 13, 2026 | 6.8M | 1.0 | +600.0% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Modified shareholder rights · Amended charter or bylaws · Other material eventMay 7, 2026
- Entered a material agreement · Unregistered equity sale · Regulation FD disclosureMar 4, 2026
- Director / officer changeFeb 20, 2026
- Director / officer changeFeb 5, 2026
- Entered a material agreement · Unregistered equity sale · Change in control · Director / officer change · Amended charter or bylaws · Shareholder voteFeb 2, 2026
- Delisting / listing-standard noticeJan 23, 2026
- Entered a material agreementJan 8, 2026
- Entered a material agreement · Unregistered equity sale · Regulation FD disclosureJan 6, 2026
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.