Davis Polk advised the joint book-running managers and representatives of the several underwriters in connection with the SEC-registered offering of 16,000,000 shares of common stock of Kala Pharmaceuticals, Inc. for approximately $126.2 million before underwriting discounts and estimated expenses of the offering. The common stock is listed on The Nasdaq Global Select Market under the symbol “KALA.”
Kala is a biopharmaceutical company focused on the discovery, development and commercialization of innovative therapies for diseases of the eye. Kala has applied its AMPPLIFYTM 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, EYSUVISTM (loteprednol etabonate ophthalmic suspension) 0.25%, which is being studied for the temporary relief of the signs and symptoms of dry eye disease.
The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Marcel Fausten and associate Johnathan M. Nixon. The tax team included partner Mario J. Verdolini and associate Alexander J. Hendin. Partner Frank J. Azzopardi and associates Tilak Koilvaram and Yifu Chen provided intellectual property advice. All members of the Davis Polk team are based in the New York office.