Kala Pharmaceuticals Announces Pricing of Initial Public Offering
Source: Kala Pharmaceuticals
Kala Pharmaceuticals announced that is has priced its initial public offering of 6,000,000 shares of its common stock at a public offering price of $15 per share, for aggregate gross proceeds of approximately $90,000,000 before underwriting discounts, commissions, and estimated offering expenses. In addition, Kala has granted the underwriters a 30-day option to purchase up to 900,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares are being sold by Kala.
The common stock began trading on The NASDAQ Global Select Market on July 20, 2017 under the trading symbol "KALA." The offering is expected to close on July 25, 2017, subject to customary closing conditions.
Kala Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of two phase 3 product candidates, KPI-121 1.0% for the treatment of inflammation and pain following ocular surgery and KPI-121 0.25% for the temporary relief of the signs and symptoms of dry eye disease using its proprietary mucus-penetrating particle (MPP) technology,
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