KALA BIO, Inc. (KALA) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 08, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 345.79% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
19M
Potential Supply
0
Additional shares possible
Splits
1 Split 1 Reverse
Past 2 years

Summary

KALA currently has 18.6M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 345.79% over the past 2 years, indicating aggressive capital raising. Recent corporate actions include 1 stock split (positive for accessibility) and 1 reverse split (concerning signal).

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 08, 2026
Stock Split

8-K filing: Stock split 1-for-50 | Outstanding: 27,849,725 → 18,589,832

19M 0
May 07, 2026

S-3 filing: Kala Bio, Inc. is filing an S-3 form to offer and sell common stock, preferred stock, debt securities, warrants, and subscription rights up to an aggregate amount of $350,000,000.

28M 3B
Apr 15, 2026

10-K filing | 27.8M shares outstanding

28M 0
Dec 16, 2025

8-K filing: On November 24, 2025, the Company closed the first tranche of a private placement with David Lazar, issuing 900,000 Series AA Preferred Shares at $2.00 per share for gross proceeds of $1.8 million. ($1.8M proceeds)

7M 7.6M
Dec 05, 2025

8-K filing: KALA BIO, Inc. completed a registered direct offering, issuing 900,000 shares of common stock and pre-funded warrants to purchase up to 9,100,000 additional shares at $1.00 per share, resulting in gross proceeds of $10 million before fees. ($10.0M proceeds)

7M 7.6M
Nov 25, 2025

8-K filing: The Company entered into a Securities Purchase Agreement to issue Series AA and Series AAA Preferred Stock for gross proceeds of up to $6.0 million, issued 900,000 Series AA Preferred Shares at $2.00 per share for $1.8 million in gross proceeds in a first closing, and agreed to issue 1,620,000 shares of common stock to Oxford as part of a loan settlement. ($1.8M proceeds)

7M 7.6M
Nov 19, 2025

10-Q filing | 7.0M shares outstanding

7M 7.6M
Aug 08, 2025

10-Q filing | 6.5M shares outstanding

6.5M 8.1M
May 14, 2025

10-Q filing | 6.3M shares outstanding

6.3M 8.3M
Mar 31, 2025

10-K filing | 6.1M shares outstanding

6.1M 8.5M
Jan 24, 2025

S-3 filing: This prospectus relates to the resale from time to time of up to 1,669,203 shares of common stock of KALA BIO, Inc. by the selling stockholders.

6.1M 8.5M
Dec 30, 2024

8-K filing: KALA BIO, Inc. entered into a Securities Purchase Agreement to issue and sell Common Shares and Series I Convertible Non-Redeemable Preferred Stock in a private placement for gross proceeds of approximately $10.75 million, with 1,340,603 Common Shares issued at $6.44 per share and 3,286 Preferred Shares issued at $644.00 per share.

6.1M 6.9M
Nov 12, 2024

10-Q filing | 4.6M shares outstanding

4.6M 8.3M
Aug 06, 2024

10-Q filing | 4.6M shares outstanding

4.6M 8.3M
Jul 25, 2024

S-3 filing: This S-3 filing relates to the resale from time to time of up to 3,519,514 shares of common stock of KALA BIO, Inc. by the selling stockholders.

4.5M 8.5M
Jun 27, 2024

8-K filing: KALA BIO, Inc. entered into a Securities Purchase Agreement to issue and sell common stock and Series H Convertible Non-Redeemable Preferred Stock in a private placement for gross proceeds of approximately $12.5 million, with the closing expected on or about June 28, 2024, and expects to have 4,458,909 shares of Common Stock outstanding upon closing.

4.5M 5M
May 14, 2024

10-Q filing | 2.8M shares outstanding

2.8M 6.6M
Mar 29, 2024

10-K filing | 2.8M shares outstanding

2.8M 6.7M
Mar 26, 2024

8-K filing: KALA BIO, Inc. entered into a Securities Purchase Agreement to issue and sell 10,901 shares of Series G Convertible Non-Redeemable Preferred Stock at $788.90 per share for gross proceeds of approximately $8.6 million in a private placement. ($8.6M proceeds)

2.6M 6.9M
Dec 22, 2023

8-K filing: KALA BIO, Inc. entered into a Securities Purchase Agreement to issue and sell 2,928 shares of Series F Convertible Non-Redeemable Preferred Stock at $683.00 per share for gross proceeds of approximately $2.0 million in a private placement. ($2.0M proceeds)

2.6M 6.9M
Nov 13, 2023

10-Q filing | 2.6M shares outstanding

2.6M 6.9M
Aug 04, 2023

10-Q filing | 2.4M shares outstanding

2.4M 7M
May 09, 2023

10-Q filing | 2.3M shares outstanding

2.3M 7.1M
May 09, 2023

S-3/A filing: Kala Pharmaceuticals may offer and sell securities from time to time in one or more offerings of up to $350,000,000 in aggregate offering price.

2.3M 7.1M
Mar 03, 2023

10-K filing | 1.7M shares outstanding

1.7M 9.1M
Mar 03, 2023

S-3 filing: Kala Pharmaceuticals files an S-3 to offer debt securities, common stock, preferred stock, depositary shares, subscription rights, units and warrants from time to time with an aggregate offering price of up to $350,000,000. They are also offering common stock in an at the market offering with Jefferies as the sales agent for up to $40,000,000.

2M 8.8M
Mar 03, 2023

S-3 filing: This S-3 filing is for the resale of up to 5,391,213 shares of common stock by selling stockholders, including shares issuable upon conversion of Series E Preferred Stock.

1.5M 9.3M
Jan 19, 2023

8-K filing: Kala Pharmaceuticals entered into an Open Market Sale AgreementSM with Jefferies LLC, as agent, to offer and sell shares of its common stock from time to time, and the company completed the sale of $75.0 million of its shares of Common Stock pursuant to a prior sales agreement. ($86.0M proceeds)

1.5M 0
Dec 27, 2022

8-K filing: Kala Pharmaceuticals, Inc. entered into a loan amendment with Oxford Finance LLC, and completed a second closing of a private placement issuing preferred shares for gross proceeds of approximately $25.0 million. ($31.0M proceeds)

1.5M 35M
Nov 08, 2022

10-Q filing | 1.5M shares outstanding

1.5M 35M
Aug 19, 2022

8-K filing: Kala Pharmaceuticals declared a dividend of Series D Preferred Stock for each outstanding share of common stock and approved an amendment to the bylaws lowering the quorum requirement.

74M 0
Aug 11, 2022

10-Q filing | 73.7M shares outstanding

74M 0
May 16, 2022

10-Q filing | 73.6M shares outstanding

74M 0
Mar 29, 2022

10-K filing | 65.2M shares outstanding

65M 0
Nov 15, 2021

10-Q filing | 65.1M shares outstanding

65M 0
Nov 15, 2021

8-K filing: Kala Pharmaceuticals, Inc. acquired Combangio, Inc. through a merger, issuing 7,788,667 shares of common stock to Combangio equityholders as part of the consideration, with an upfront cash payment of $5.0 million. ($16.12M proceeds)

65M 0
Aug 05, 2021

10-Q filing | 64.8M shares outstanding

65M 0
May 05, 2021

10-Q filing | 63.8M shares outstanding

64M 0
Feb 25, 2021

10-K filing | 58.9M shares outstanding

59M 0
Jan 07, 2021

8-K filing: Kala Pharmaceuticals reports preliminary cash, cash equivalents, and short-term investments of approximately $153.5 million as of December 31, 2020, including net proceeds from the sale of common stock under its at-the-market offering program during Q4 2020, where 2,821,059 shares were sold for net proceeds of $20.6 million.

56M 0
Nov 05, 2020

10-Q filing | 56.1M shares outstanding

56M 0
Aug 06, 2020

10-Q filing | 55.8M shares outstanding

56M 0
May 07, 2020

S-3 filing: The company intends to offer and sell securities from time to time in one or more offerings of up to $350,000,000 in aggregate offering price.

37M 0
May 07, 2020

10-Q filing | 55.7M shares outstanding

56M 0
Mar 12, 2020

8-K filing: Kala Pharmaceuticals, Inc. entered into an underwriting agreement for a public offering of 16,000,000 shares of common stock at $7.89 per share, with an option for the underwriters to purchase an additional 2,400,000 shares. ($118.3M proceeds)

37M 0
Feb 12, 2020

10-K filing | 36.8M shares outstanding

37M 0
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