KALA BIO

Q2 FY2026 EarningsQ2 FY26 reported no revenue, in-line with $0 consensus, as the company transitions from biologics to an AI infrastructure model. GAAP Net Loss of $1.58M was significantly narrower than the $2.20M expected deficit, driven by aggressive cost-cutting following the CHASE trial failure. Cash used in operations for the first half of FY26 was -$4.43M, substantially beating the consensus expectation of -$10.35M due to delayed R&D spending and workforce reductions. Management guidance targets an operating budget of $1.5M-$3.2M for the next 12 months, supported by a $7M short-term loan repayment call.