KALA Bio, Inc.'s (NASDAQ:KALA) Chief Financial Officer, Mary Reumuth, has sold a total of 1,786 shares of the company's common stock, according to a recent SEC filing. The transaction, dated May 31, 2024, was executed at a weighted average price of $6.09 per share, resulting in a total sale value of $10,876.
The shares were sold in multiple transactions at prices ranging from $6.07 to $6.58. Following the sale, Reumuth's direct ownership in the company stands at 64,350 shares, which includes 56,177 unvested restricted stock units (RSUs).
The sale was made pursuant to a 10b5-1 trading plan adopted by Reumuth on November 9, 2020. The plan was established to cover tax withholding obligations that arose in connection with the vesting and settlement of RSUs granted to the CFO on May 31, 2023.
Investors often monitor insider transactions as they can provide insights into a company's financial health and future prospects. The details of the sale, including the number of shares sold at each price point within the range, can be provided upon request to the issuer, any security holder, or the SEC staff.
KALA Bio, based in Arlington, Massachusetts, operates in the pharmaceutical preparations sector and is known for its focus on innovative treatments in ophthalmology. The company's shares are traded on the NASDAQ under the ticker symbol "KALA".
InvestingPro Insights
As KALA Bio, Inc. (NASDAQ:KALA) navigates the challenging pharmaceutical landscape, financial metrics and expert analysis become crucial for investors. According to InvestingPro, KALA holds more cash than debt, which is a positive sign for its financial stability. However, the company is quickly burning through cash, raising concerns about its long-term sustainability. This is further compounded by weak gross profit margins and the lack of profitability over the last twelve months, as analysts do not anticipate the company will be profitable this year.
InvestingPro data reveals that KALA Bio has a market capitalization of $19.07 million, reflecting its size within the pharmaceutical preparations sector. The company's Price to Book ratio stands at 2.86 for the last twelve months as of Q1 2024, which may be of interest to investors looking for valuation metrics. Additionally, the Price, Previous Close was $6.72, which is 40.2% of the company's 52-week high, highlighting the stock's recent performance in relation to its past year's range.
For those considering an investment in KALA Bio, it's important to note that the company's liquid assets exceed its short-term obligations, which may provide some reassurance about its ability to meet immediate financial liabilities. Moreover, the InvestingPro platform offers additional insights for KALA, with a total of 7 InvestingPro Tips available to help investors make informed decisions. To explore these further and to take advantage of expert analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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