KALA - Kala Pharmaceuticals: Eye Treatment Specialist With Much To Prove May Have Just The Product

• Kala Pharmaceuticals has had a torrid time growing sales of its first approved ocular therapy Inveltys, for postoperative pain, which earned just $6.1m in FY20.
• In October last year, Kala won approval for Eysuvis, a corticosteroid treatment for short-term symptoms of dry eye disease - sales could be anything from $350m to >$1bn.
• The company has begun its sales and marketing launch in earnest and has conducted intensive market research to identify a target market for Eysuvis, treating DED flare ups.
• It estimates 38m dry eye sufferers, 17.2m diagnosed, 75% of whom have never tried a prescription treatment.
• Eysuvis sales will be pivotal to Kala's short and long-term fortunes. Peak sales of $350m supports a share price >$20, based on my analysis. The bull case just about outweighs the bear.

For further details see: