$KALA
KALA BIO, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023018696 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $0.00
YoY Change -100.0%
Gross Profit Margin
Selling, General & Admin $4.623M $4.952M
YoY Change -20.72% -48.14%
% of Gross Profit
Research & Development $4.718M $5.554M
YoY Change 41.98% 3.02%
% of Gross Profit
Depreciation & Amortization $73.00K $80.00K
YoY Change -8.75% -47.02%
% of Gross Profit
Operating Expenses $9.619M $8.762M
YoY Change -6.17% -41.54%
Operating Profit -$9.619M -$8.762M
YoY Change -6.17% -39.86%
Interest Expense -$858.0K $1.459M
YoY Change -29.84% 0.83%
% of Operating Profit
Other Income/Expense, Net $1.850M $58.00K
YoY Change -235.14% -99.87%
Pretax Income -$8.627M -$8.700M
YoY Change -32.83% -129.92%
Income Tax
% Of Pretax Income
Net Earnings -$8.627M -$8.704M
YoY Change -32.83% -129.94%
Net Earnings / Revenue
Basic Earnings Per Share -$3.41
Diluted Earnings Per Share -$3.18 -$3.41
COMMON SHARES
Basic Shares Outstanding 2.693M 2.543M
Diluted Shares Outstanding 2.550M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.90M $56.10M
YoY Change -27.8% 7.08%
Cash & Equivalents $50.90M $56.06M
Short-Term Investments
Other Short-Term Assets $1.739M $1.500M
YoY Change -88.6% -95.33%
Inventory
Prepaid Expenses
Receivables $117.0K $100.0K
Other Receivables $119.0K $200.0K
Total Short-Term Assets $52.87M $57.90M
YoY Change -38.48% -31.62%
LONG-TERM ASSETS
Property, Plant & Equipment $2.778M $802.0K
YoY Change 594.5% 55.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $301.0K $300.0K
YoY Change -34.85% -36.84%
Total Long-Term Assets $3.079M $3.218M
YoY Change 250.68% 213.65%
TOTAL ASSETS
Total Short-Term Assets $52.87M $57.90M
Total Long-Term Assets $3.079M $3.218M
Total Assets $55.95M $61.12M
YoY Change -35.56% -28.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $919.0K $787.0K
YoY Change -67.55% -89.29%
Accrued Expenses $6.352M $6.260M
YoY Change -28.71% -75.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $8.346M $10.30M
YoY Change -67.51% -74.4%
LONG-TERM LIABILITIES
Long-Term Debt $34.19M $33.88M
YoY Change -9.88% -20.55%
Other Long-Term Liabilities $5.909M $5.700M
YoY Change 39.89% 50.67%
Total Long-Term Liabilities $40.10M $39.60M
YoY Change -4.89% -14.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.346M $10.30M
Total Long-Term Liabilities $40.10M $39.60M
Total Liabilities $48.45M $49.90M
YoY Change -28.6% -42.43%
SHAREHOLDERS EQUITY
Retained Earnings -$629.4M -$620.8M
YoY Change 7.19% 8.08%
Common Stock $3.000K $3.000K
YoY Change 50.0% 200.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.504M $11.22M
YoY Change
Total Liabilities & Shareholders Equity $55.95M $61.12M
YoY Change -35.56% -28.68%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$8.627M -$8.704M
YoY Change -32.83% -129.94%
Depreciation, Depletion And Amortization $73.00K $80.00K
YoY Change -8.75% -47.02%
Cash From Operating Activities -$7.697M -$2.950M
YoY Change -43.96% -81.17%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $280.0K
YoY Change -54.55% -836.84%
Acquisitions
YoY Change
Other Investing Activities $1.000K $10.00M
YoY Change -98.63% -84.6%
Cash From Investing Activities -$9.000K $9.720M
YoY Change -117.65% -85.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.536M 40.00K
YoY Change -92.02% -100.1%
NET CHANGE
Cash From Operating Activities -7.697M -2.950M
Cash From Investing Activities -9.000K 9.720M
Cash From Financing Activities 2.536M 40.00K
Net Change In Cash -5.170M 6.810M
YoY Change -128.56% -27.35%
FREE CASH FLOW
Cash From Operating Activities -$7.697M -$2.950M
Capital Expenditures $10.00K $280.0K
Free Cash Flow -$7.707M -$3.230M
YoY Change -43.98% -79.33%

Facts In Submission

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kala Payments To Acquire Property Plant And Equipment And Other Assets
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kala Payment Of Principal On Venture Debt Facility
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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kala Capital Expenditures Incurred But Not Yet Paid Accounts Payable
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kala Issuance Of Common Stock To Satisfy Deferred Purchase Consideration In Additional Paid In Capital
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CY2022Q3 kala Disposal Group Including Discontinued Operation Number Of Milestone Payments Per Calendar Year
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CY2022Q4 kala Due From Alcon
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CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
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kala Gain Loss On Fair Value Re Measurement Of Deferred Purchase Consideration
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kala Gain Loss On Fair Value Re Measurement Of Deferred Purchase Consideration
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CY2023Q3 kala Fair Value Assets Level1 To Level2 Transfers Amount1
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CY2023Q3 kala Royalty On Net Sales Based On Of Funds Utilized By Company
RoyaltyOnNetSalesBasedOnOfFundsUtilizedByCompany
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CY2023Q3 kala Accrued Commercialization Cost
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CY2022Q4 kala Due To Third Party
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us-gaap Operating Lease Cost
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CY2022Q3 us-gaap Lease Cost
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CY2022Q3 us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q3 kala Lessee Operating Lease Liability To Be Paid After Year Four
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CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Operating Lease Liability
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CY2023Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
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CY2023Q3 kala Debt Instrument Exit Fees Of Total Principal Payments Value
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CY2022Q4 kala Debt Instrument Exit Fees Of Total Principal Payments Value
DebtInstrumentExitFeesOfTotalPrincipalPaymentsValue
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CY2023Q3 kala Adjusted Long Term Debt
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CY2022Q4 kala Adjusted Long Term Debt
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1499001
us-gaap Weighted Average Number Of Shares Outstanding Basic
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2337492
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2337492
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Earnings Per Share Basic
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CY2022Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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-14.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-21.46
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.41
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
19.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-14.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-21.46
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6623965
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
226050
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6350427
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
257865
CY2022Q4 kala Tax Credit Carryforward Amount Annual Limitation
TaxCreditCarryforwardAmountAnnualLimitation
222000
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0

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