KPI-012 is a cell therapy commercialized by KALA BIO, with a leading Phase II program in Persistent Corneal Epithelial Defects. According to Globaldata, it is involved in 2 clinical trials, of which 1 was completed, and 1 is ongoing. GlobalData uses proprietary data and analytics to provide a complete picture of KPI-012’s valuation in its risk-adjusted NPV model (rNPV). Buy the model here.

Smarter leaders trust GlobalData


Data Insights Net Present Value Model: KALA BIO Inc's KPI-012

Buy the Model

Data Insights

The gold standard of business intelligence.

Find out more

The revenue for KPI-012 is expected to reach an annual total of $6 mn by 2040 globally based off GlobalData’s Expiry Model. The drug’s revenue forecasts along with estimated costs are used to measure the value of an investment opportunity in that drug, otherwise known as net present value (NPV). Applying the drug’s phase transition success rate to remaining R&D costs and likelihood of approval (LoA) to sales related costs provides a risk-adjusted NPV model (rNPV). The rNPV model is a more conservative valuation measure that accounts for the risk of a drug in clinical development failing to progress.

KPI-012 Overview

KPI-012 is under development for the treatment of persistent corneal epithelial defects, moderate-to-severe sjögren's, partial limbal stem cell deficiency, chemical burns of cornea and other rare corneal diseases. The drug candidate is administered by topical as well as drops through ocular route. The drug candidate comprises of mesenchymal stem cell secretome (MSC-S).

KALA BIO Overview

KALA BIO, formerly Kala Pharmaceuticals Inc, is a clinical-stage biopharmaceutical company that researches, develops and commercialization innovative therapies for rare and severe diseases of the eye. The company’s product pipeline includes KPI-012 and KPI-014. Its pipeline treats rare ocular surface diseases and rare inherited retinal diseases. KALA BIO carries out mesenchymal stem cell secretome (MSC-S) platform which addresses corneal and retinal diseases. The company also includes EYSUVIS and INVELTYS that carries out treatment of the signs and symptoms of dry eye disease and ocular steroid for the treatment. It supplies its products across the US and Europe. KALA BIO is headquartered in Arlington, Massachusetts, the US.
The operating loss of the company was US$39.7 million in FY2023, compared to an operating loss of US$37.3 million in FY2022. The net loss of the company was US$42.2 million in FY2023, compared to a net loss of US$44.8 million in FY2022.

For a complete picture of KPI-012’s valuation, buy the drug’s risk-adjusted NPV model (rNPV) here.

This content was updated on 10 June 2024

Data Insights


The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

To create this model, GlobalData takes into account factors including patent law, known and projected regulatory approval processes, cash flows, drug margins and company expenses. Combining these data points with GlobalData’s world class analysis creates high value models that companies can use to help in evaluation processes for each drug or company.

The rNPV method integrates the probability of a drug reaching a clinical stage into the cash flow at that time, which provides a more accurate valuation, as it considers the probability that the drug never makes it through the clinical pathway to commercialization. GlobalData’s rNPV model uses proprietary likelihood of approval (LoA) and phase transition success rate (PTSR) data for the indication in the highest development stage, which can be found on GlobalData’s Pharmaceutical Intelligence Center.