Kala Phar­ma shares dam­aged by mixed da­ta from PhI­II dry eye pro­gram

Kala Phar­ma­ceu­ti­cals $KALA took a nasty hit this morn­ing af­ter the com­pa­ny dis­closed mixed re­sults for its Phase III pro­gram for the dry eye drug KPI-121.

Their drug hit a slate of big end­points for the dis­ease in STRIDE 1, miss­ing on in­fe­ri­or corneal stain­ing change from base­line to day 15. And STRIDE 2 went one and one, hit­ting on con­junc­ti­val hy­per­emia change from base­line to day 15 and miss­ing on an end­point for oc­u­lar dis­com­fort sever­i­ty change.

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