Kala Pharmaceuticals (NASDAQ: KALA) reported Q4 EPS of ($0.76), $0.24 worse than the analyst estimate of ($0.52).

• Launched INVELTYSTM (loteprednol etabonate ophthalmic suspension) 1% in January 2019 for the treatment of post-operative inflammation and pain following ocular surgery
• Hired a highly experienced ophthalmology specialty sales organization and payer account team
• Received PDUFA target action date of August 15, 2019 for KPI-121 0.25% for the temporary relief of signs and symptoms of dry eye disease
• Enrollment for STRIDE 3 trial of KPI-121 0.25% continues to progress as planned. Topline data expected in 4Q19
• Strengthened balance sheet with successful debt and equity financings during 4Q18 with aggregate net proceeds of $123.6 million

“The past year was a landmark period for Kala with the approval and launch of INVELTYS, the first and only twice-daily ocular corticosteroid indicated for the treatment of post-operative inflammation and pain following ocular surgery,” said Mark Iwicki, Chairman, President and Chief Executive Officer of Kala Pharmaceuticals. “Since approval, we completed the buildout of our commercial infrastructure for INVELTYS, including on-boarding a highly experienced ophthalmology specialty sales organization and payer account team. The physician feedback in the first few weeks of launch has been positive, and we are pleased with the uptake in prescription volume along with the progress made in gaining market access.”

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