NASDAQ:KALA 4 December 2025 - 5 December 2025

KALA BIO closed at $1.05 on December 4, 2025, after announcing a $10 million registered direct stock offering at $1.00 per share. Trading volume exceeded 100 million shares amid sharp price swings. New CEO David E. Lazar is leading a recapitalization and negotiating a $7 million debt reduction with Oxford Finance, which now holds about 16.5% of the company’s stock. Market cap stood near $8.6 million before the new shares.

KALA BIO shares jumped about 50% to $1.40 on December 4 after announcing a $10 million registered direct offering at $1.00 per share. Oxford Finance converted debt into a 16.5% equity stake, and new CEO David Lazar invested $6 million in preferred stock. Trading volume topped 100 million shares, far exceeding the company’s roughly 8.2 million share float. The moves follow a failed drug trial and cash sweep in October.