12 October 2018 - - The underwriters of US-based biopharmaceutical company Kala Pharmaceuticals, Inc. (NASDAQ: KALA) public offering have exercised in full their option to purchase an additional 1.125m shares of common stock at the public offering price of USD 8.25 per share, less underwriting discounts, the company said.

After giving effect to the option closing, the total number of shares sold by Kala in the offering increased to 8.625m shares, which resulted in gross proceeds of USD 71.2 m, before deducting underwriting discounts and commissions and estimated offering expenses payable by Kala.

J.P. Morgan, BofA Merrill Lynch and Jefferies acted as joint bookrunning managers for the offering. Cantor Fitzgerald and Co. served as lead manager for the offering, and Wedbush PacGrow and Oppenheimer and Co. Inc. acted as co-managers for the offering.

Kala is a biopharmaceutical company focused on the development and commercialization of therapeutics using its proprietary MPP technology, with an initial focus on the treatment of eye diseases.

The company has applied the MPP technology to a corticosteroid, LE, designed for ocular applications, resulting in recently approved Inveltys for the treatment of inflammation and pain following ocular surgery and its lead product candidate, KPI-121 0.25%, for the temporary relief of the signs and symptoms of dry eye disease.