Kala Pharmaceuticals Reports Disappointing Q2 Sales
Clinical-stage pharmaceutical companies are often pretty risky investments, but success isn't guaranteed when the first drug candidate earns marketing approval and launches onto the market. The latest example of that easy-to-forget reality is Kala Pharmaceuticals (NASDAQ: KALA).
The small-cap pharma wields an intriguing technology pipeline. Its first product, Inveltys, launched in January 2019. Analysts think the eye drug has the potential to reach peak annual sales near $300 million. But shares of Kala Pharmaceuticals have fallen over 65% in the last year -- and second-quarter 2019 operating results only piled onto the stock's woes.
Investors are worried about the chasm between the amount of revenue actually delivered by Inveltys and what Wall Street was expecting. Was it really that big of a deal given the fact that the drug has been on the market for six months? Here's what you need to know about the latest financial report.
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