KALA - Kala Pharmaceuticals plans to sell EYSUVIS and INVELTYS to Alcon

Kala Pharmaceuticals (NASDAQ:KALA) has entered into a definitive pact to sell its commercial portfolio and related intellectual property assets to Alcon, which includes EYSUVIS for the short-term treatment of the signs and symptoms of dry eye disease, and INVELTYS for the treatment of post-operative inflammation and pain following ocular surgery. Per the terms of pact, Kala will receive $60M in upfront payment; and eligible to receive additional sales-based milestone payments. The company will focus resources on Phase 2/3 trial of KPI-012 for orphan disease persistent corneal epithelial defect. Kala expects the transaction to close in the third quarter of 2022.

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Kala Pharmaceuticals plans to sell EYSUVIS and INVELTYS to Alcon