Kala Pharmaceuticals (KALA) Tops Q1 EPS by 19c, Revenues Miss

Kala Pharmaceuticals (NASDAQ: KALA) reported Q1 EPS of ($0.49), $0.19 better than the analyst estimate of ($0.68). Revenue for the quarter came in at $3.27 million versus the consensus estimate of $4.18 million.

“We are early in the launch of EYSUVIS and encouraged by our progress to establish the product as the first and only prescription therapy specifically for the short-term treatment of dry eye disease. We have secured market access for approximately 43 percent of all commercial lives and are pleased with the early launch metrics and feedback from eye care professionals who view EYSUVIS as a first-line treatment option for a range of patients suffering from dry eye flares,” said Mark Iwicki, Chairman, President and Chief Executive Officer of Kala Pharmaceuticals. “The new credit facility announced today helps extend our projected cash runway to at least two years, strengthening our financial position to invest across our business as we build on early EYSUVIS momentum, continue to promote INVELTYS and advance our pipeline of new chemical entities targeted to address front and back of the eye diseases.”

For earnings history and earnings-related data on Kala Pharmaceuticals (KALA) click here.

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