Kala Pharmaceuticals (NASDAQ: KALA) reported Q1 EPS of ($0.54), $0.03 worse than the analyst estimate of ($0.51). Revenue for the quarter came in at $1.1 million versus the consensus estimate of $2.66 million.

“The first quarter of 2020 was marked by substantial progress across our business, even as we contended with the uncertainties and unprecedented disruptions imposed by the COVID-19 pandemic,” said Mark Iwicki, Chairman, President and Chief Executive Officer of Kala Pharmaceuticals. “In March, we announced positive results from our STRIDE 3 clinical trial of EYSUVIS, demonstrating statistically significant improvements in both the signs and symptoms of dry eye disease. These results replicated the positive results from prior trials, which highlight the potential of EYSUVIS to be the first prescription medicine for the short-term treatment of dry eye disease, including dry eye flares. As we announced earlier this week, we have resubmitted the NDA for EYSUVIS to the FDA incorporating the positive results from STRIDE 3 and are preparing for a potential approval and launch by year-end.”

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