BUZZ-Kala Bio tumbles after CEO resignation
ReutersFeb 12, 2025 4:55 PM
Shares of drug maker Kala Bio KALA.O fall 34.6% to $7.12, set for record single-day fall
Company says its CEO Mark Iwicki has resigned, and President Todd Bazemore has been appointed as interim CEO
Iwicki has been with KALA for nearly a decade
Iwicki will continue as chair of the board
KALA is set to report mid-stage trial data of its drug, KPI-012, in the second quarter of 2025, for the treatment of persistent corneal epithelial defects, a condition where injuries to the cornea, the clear front part of the eye, don't heal properly
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