Kala Pharmaceuticals Announces Proposed Public Offering of Common Stock
March 10 2020 - 4:44PM
Business Wire
Kala Pharmaceuticals, Inc. (“Kala”) (NASDAQ:KALA), a
biopharmaceutical company focused on the discovery, development and
commercialization of innovative therapies for diseases of the eye,
announced today that it has commenced an underwritten public
offering of $100.0 million of its common stock. Kala also intends
to grant the underwriters of the offering an option for a period of
30 days to purchase up to an additional 15% of the shares of common
stock offered in the public offering at the public offering price,
less underwriting discounts and commissions. The offering is
subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed or as
to the actual size or terms of the offering.
J.P. Morgan, BofA Securities and Jefferies will act as joint
bookrunning managers for the offering.
The shares are being offered by Kala pursuant to a shelf
registration statement (including a prospectus) on Form S-3 that
was previously filed with and declared effective by the U.S.
Securities and Exchange Commission (“SEC”). The offering will be
made only by means of the written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement relating to and describing the
terms of the offering will be filed with the SEC and will be
available on the SEC’s website at www.sec.gov.
Copies of the preliminary prospectus supplement and accompanying
prospectus relating to the offering may also be obtained from: J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, or by telephone at (866)
803-9204; BofA Securities, Inc., NC1-004-03-43, 200 North College
Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus
Department, or by email at dg.prospectus_requests@bofa.com; or
Jefferies LLC, Attention: Equity Syndicate Prospectus Department,
520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone
at (877) 821-7388, or by email at
Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of,
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification of these securities under the securities laws of any
such state or jurisdiction.
About Kala Pharmaceuticals
Kala is a biopharmaceutical company focused on the discovery,
development and commercialization of innovative therapies for
diseases of the eye. Kala has applied its AMPPLIFY™ mucus
penetrating particle Drug Delivery Technology to a corticosteroid,
loteprednol etabonate (LE), designed for ocular applications,
resulting in the January 2019 launch of INVELTYS® (loteprednol
etabonate ophthalmic suspension) 1% and its investigational product
candidate, EYSUVIS™ (loteprednol etabonate ophthalmic suspension)
0.25%, which is being studied for the temporary relief of the signs
and symptoms of dry eye disease.
Forward-Looking Statements
This release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995,
such as those, among others, relating to Kala’s plans to consummate
its proposed public offering. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these or similar identifying words. Actual
results may differ materially from those projected or implied in
these forward-looking statements. Factors that may cause such a
difference include, without limitation, substantial risks and
uncertainties relating to whether or not Kala will be able to raise
capital through the sale of shares of common stock, the final terms
of the proposed offering, market and other conditions, the
satisfaction of customary closing conditions related to the
proposed public offering and the impact of general economic,
industry or political conditions in the United States or
internationally. There can be no assurance that Kala will be able
to complete the proposed public offering on the anticipated terms,
or at all. You should not place undue reliance on these
forward-looking statements. Additional risks and uncertainties
relating to the proposed offering, Kala and its business can be
found under the caption “Risk Factors” in Kala’s most recently
filed Annual Report on Form 10-K, the preliminary prospectus
supplement to be filed in connection with proposed offering and
other filings Kala makes with the SEC. All information in this
press release is as of the date of the release and should not be
relied upon as representing Kala’s views as of any subsequent date,
and Kala undertakes no duty to update this information unless
required by law.
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Investors Hannah Deresiewicz
hannah.deresiewicz@sternir.com 212-362-1200
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