WALTHAM, Mass.--(BUSINESS WIRE)--Jul. 20, 2017--
Kala Pharmaceuticals, Inc. (Kala), 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, announced that is has
priced its initial public offering of 6,000,000 shares of its common
stock at a public offering price of $15.00 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 is expected to begin 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
J.P. Morgan, BofA Merrill Lynch and Wells Fargo Securities are acting as
joint bookrunners for the offering. Wedbush PacGrow is acting as a
co-manager for the offering.
A registration statement relating to the shares of common stock being
sold in this offering has been filed with the U.S. Securities and
Exchange Commission and was declared effective on July 19, 2017. The
offering of these shares is being made only by means of a prospectus
forming part of the effective registration statement relating to these
shares. Copies of the prospectus may be obtained by contacting J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204,
BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email
or Wells Fargo Securities, Attention: Equity Syndicate Department, 375
Park Avenue, New York, NY 10152, at (800) 326-5897 or email a request to email@example.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of shares
of Kala’s common stock in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such jurisdiction.
About Kala Pharmaceuticals, Inc.
Kala is a biopharmaceutical
company focused on the development and commercialization of therapeutics
using its proprietary MPP technology, with an initial focus on the
treatment of eye diseases. Kala has applied the MPP technology to create
a corticosteroid designed for ocular applications, resulting in two
product candidates in Phase 3 clinical development, 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
View source version on businesswire.com: http://www.businesswire.com/news/home/20170720005646/en/
Source: Kala Pharmaceuticals, Inc.
MacDougall Biomedical Communications
Kari Watson, 781-235-3060