Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer’s Purchases of Equity Securities
−Removed: Our common stock has been publicly traded on The Nasdaq Stock Market under the symbol “KALA” since July 20, 2017 in connection with our initial public offering, or IPO.
+Added: Our Common Stock has been publicly traded on The Nasdaq Stock Market under the symbol “KALA” since July 20, 2017 in connection with our IPO.
From July 20, 2017 through January 10, 2023 our Common Stock traded on The Nasdaq Global Select Market.
−Removed: On January 11, 2023, our common stock began trading on The Nasdaq Capital Market.
−Removed: Prior to our IPO, there was no public market for our common stock.
+Added: Since January 11, 2023, our Common Stock has been trading on The Nasdaq Capital Market.
As of March 31, 2026, there were approximately 40 holders of record of our Common Stock.
3 unchanged sentences
We intend to retain all available funds and any future earnings to finance the operation and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future.
−Removed: In addition, our ability to pay cash dividends is currently restricted by the terms of our Loan and Security Agreement with Oxford Finance LLC and our Securities Purchase Agreements relating to our 2022, 2023 and March 2024 private placements (which securities purchase agreements are more fully described in Item 1., Business and Item 7., Management’s Discussion and Analysis of Financial Condition and Results of Operations).
−Removed: Future debt financing arrangements also may contain terms prohibiting or limiting the amount of dividends that may be declared or paid on our common stock.
−Removed: Any future determination to declare and pay dividends will be made at the discretion of our board of directors and will depend on then-existing conditions, including our results of operations, financial condition, contractual restrictions, capital requirements, business prospects and other factors our board of directors may deem relevant.
+Added: Any future determination to declare and pay dividends will be made at the discretion of our board of directors and will depend on then-existing conditions, including our results of operations, financial condition, contractual restrictions, capital requirements, business prospects and other factors our Board may deem relevant.
Information About our Equity Compensation Plans
−Removed: The information required by this item is set forth in “Item 12.
−Removed: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” and is incorporated herein by reference.
+Added: The information required by this item will be set forth in our Proxy Statement for our 2026 Annual Meeting of Stockholders (the “2026 Proxy Statement”) under the caption “Equity Compensation Plans”, and is incorporated herein by reference.
Recent Sales of Unregistered Securities
−Removed: We did not sell any shares of our common stock, shares of our preferred stock or warrants to purchase shares of our stock, or grant any stock options, restricted stock units or restricted stock awards, during the year ended December 31, 2024 that were not registered under the Securities Act of 1933, as amended, or the Securities Act, and that have not otherwise been described in a Quarterly Report on Form 10-Q or a Current Report on Form 8-K .
−Removed: Purchase of Equity Securities
−Removed: We did not purchase any of our registered equity securities during the period covered by this Annual Report on Form 10-K.
+Added: No unregistered securities were issued during the fiscal year ended December 31, 2025 that were not previously reported in a Quarterly Report on Form 10-Q or Current Report on Form 8-K
+Added: Repurchase of Equity Securities
+Added: We did not repurchase any of our equity securities during the fourth quarter of the fiscal year ended December 31, 2025.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.