Stock To Watch: Here's Why You Need To Keep An Eye On Kala Pharma (KALA)

(RTTNews) - Shares of Kala Pharmaceuticals Inc. (KALA) have gained over 10 percent in the last 5 trading days as the Company gears up to report results from STRIDE 3 - a phase III clinical trial for EYSUVIS, its product candidate for the short-term treatment of dry eye disease, this month.

The data from the STRIDE 3 trial will serve as the basis for the resubmission of the EYSUVIS NDA to the FDA, which is planned for the first half of 2020. The U.S. regulatory agency refused to approve EYSUVIS last August and had indicated that efficacy data from an additional clinical trial will be needed to support a resubmission.

If approved, the Company believes that EYSUVIS could become the preferred prescription therapy for dry eye flares, which affects the vast majority of patients with dry eye disease.

The Company currently markets INVELTYS, the first and only twice-daily post-surgical ocular corticosteroid. This product, which was launched in January 2019, has been able to attain steady growth in prescriptions and market share, and it achieved full-year revenue of $6.1 million.

Kala Pharma ended the year 2019 with cash of $85.4 million.

KALA has traded in a range of $3.24 to $8.92 in the last 1 year. As of this writing, the stock is trading at $6.43, up 7.35%.