(24/7 MARKET NEWS) - 24/7 Market News has covered Kala Pharmaceuticals, Inc. (NASDAQ: KALA), including last week's announcement that the FDA accepted an investigational new drug (IND) application for the company's lead product candidate, KPI-012, a human mesenchymal stem cell secretome (MSC-S), initially in development for the treatment of persistent corneal epithelial defect (PCED).

At the time, Kala Pharmaceuticals was trading at $5.26, but by Friday it hit $45.70 in the premarket. Friday morning, we stated that, ideally, it should stabilize near that level to form a new support level, before it makes a run to higher levels.

Kala opened today at $28.52 and already hit a high of$56.7199. It's now at $50.7575, up $18.8075 (+58.87%), on 10.6 million shares traded.

Its 52-week range is $3.5444 to $97.00. It's now trading at levels it last reached in April and has a favorable setup to potentially challenge much higher trading levels.

24/7 MARKET NEWS, INC Disclaimer

24/7 MARKET NEWS ("24/7 MN") is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.

CONTACT: editor@247marketnews.com

.

(C) 2023 M2 COMMUNICATIONS, source M2 PressWIRE