---
title: "KALA BIO 10-K: Operating loss $39.16M; Net loss $26.98M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282893053.md"
description: "KALA BIO reported a significant operating loss of $39.16 million and a net loss of $26.98 million for the year ending December 31, 2025. The company is shifting its focus from MSC-S biologics to an AI platform named Researgency, targeting biotech and pharmaceutical clients. Following the failure of the CHASE Phase 2b trial for KPI-012, KALA BIO is restructuring its operations, including workforce reductions and asset monetization strategies, to align with its new AI initiative."
datetime: "2026-04-15T20:05:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282893053.md)
  - [en](https://longbridge.com/en/news/282893053.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282893053.md)
---

# KALA BIO 10-K: Operating loss $39.16M; Net loss $26.98M

KALA BIO reported a year marked by a substantial operating loss and a net loss as it pivots its business model. The company recorded an operating loss of $39.161 million and a net loss of $26.980 million for the year ended December 31, 2025. Revenue and EPS were not disclosed in the extracted sections.

**Financial Highlights**

-   **Operating Income**: $(39.161) million (loss from operations per consolidated statement of operations)
-   **Net Income**: $(26.980) million (net loss for the year ended December 31, 2025)
-   **Net Income Per Share**: Not stated in the extracted sections

**Business Highlights**

-   **Business pivot to AI platform**: Transitioned from MSC-S biologics development to building Researgency, an on-premises AI platform targeting biotech and pharmaceutical customers.
-   **Asset monetization strategy**: Pursuing licensing and out-licensing opportunities for KPI-012, KPI-014 and legacy MSC-S intellectual property to preserve value while focusing resources on the AI strategy.
-   **Clinical program outcome**: The CHASE Phase 2b trial for KPI-012 failed to meet primary endpoints, leading to discontinuation of development of the MSC-S platform and a redirection of R&D efforts.
-   **Operational downsizing and restructuring**: Executed workforce reductions, lease terminations and vendor settlements to conserve capital and realign operations toward the AI platform initiative.

Original SEC Filing: KALA BIO, Inc. \[ KALA \] - 10-K - Apr. 15, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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