Home / Going-concern warnings / KALA BIO, Inc.
Filed 2025-05-14 · Form 10-Q · Accession 0001558370-25-007763 nano
Price before filing: $174 (2025-05-13 close, split/dividend-adjusted)
Market cap at flag: $21.3M (2025-05-14) · Latest: $14,083 (2026-10-16)
| Window | KALA | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +23.6% | +1.7% | +21.8% | 2025-06-13 |
| 90 days | +113.8% | +9.8% | +103.9% | 2025-08-12 |
| 180 days | -79.0% | +16.8% | -95.8% | 2025-11-10 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: 5 insiders sold $80K (5 sales)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-05-14: red flag filed | |||||||
| 2025-06-03 | Bazemore Todd SEE REMARKS | Sale | 3,390 | $3.74 | $13K | no | Form 4 |
| 2025-06-03 | Brazzell Romulus K SEE REMARKS | Sale | 3,687 | $3.74 | $14K | no | Form 4 |
| 2025-06-03 | Iwicki Mark T Director | Sale | 10,866 | $3.74 | $41K | no | Form 4/A |
| 2025-06-03 | Kharabi Darius CHIEF BUSINESS OFFICER | Sale | 730 | $3.74 | $3K | no | Form 4 |
| 2025-06-03 | Reumuth Mary CHIEF FINANCIAL OFFICER | Sale | 2,850 | $3.74 | $11K | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-13 to 2025-06-13. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"In addition, we have identified conditions and events that raise substantial doubt about our ability to continue as a going concern. ● Our limited operating history and our limited experience in developing biologics may make it difficult for you to evaluate the success of our business to date and to assess our future viability. ● We will need substantial additional funding."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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