Kala Pharma up as FDA grants fast track tag to eye disease therapy

KALA BIO

12/04/2023 13:59

** Kala Pharmaceuticals Inc's shares  KALA.O  up 1.5% at
$17.30 before the bell
    ** Drug developer says U.S. Food and Drug Administration
(FDA) has granted fast track designation to KALA’s experimental
therapy to treat persistent corneal epithelial defect (PCED), a
rare eye disease
    ** Fast track tag facilitates the development and expedite
the review of drug candidates intended to treat serious
conditions
    ** The drug is currently in a mid-stage study to evaluate
efficacy and safety in patients 
    ** As of last close, KALA was down ~55% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))