Kala Pharmaceuticals Stock Surges on FDA Update

KALA is up more than 280% today

Deputy Editor
Dec 28, 2022 at 1:18 PM
facebook X logo linkedin


Kala Pharmaceuticals Inc (NASDAQ:KALA) is bucking the broader-market trend this afternoon, up 283.2% lead to trade at $15.02. The breakout comes after the U.S. Food and Drug Administration (FDA) accepted the drugmaker's application to start human trials for its treatment for persistent non-healing corneal defect, KPI-012.

Today's gains mark KALA's best single-session percentage pop of all time, though the shares remain well below their March 16 peak of $97. And while the equity is moving away from its recent all-time low of $3.54, Kala Pharmaceutical stock remains down more than 87% in the last 12 months. 

Call traders are in a frenzy following the news. The stock's normally nonexistent options pits have already seen 535 bullish bets cross the tape, which is 66 times the intraday average volume. Most popular by far is the April 7.50 call, followed by the 7.50 call in the January series, and new positions are being opened at both contracts. 

The success of the trial results could bode well for the security. According to Reuters, the company believes the results could serve as the first of two pivotal trials that could pave the way for a marketing application to the FDA.

 

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*