Kala Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in the research, development, and commercialization of therapies for rare diseases of the eye. The Company’s biologics-based investigational therapies utilize its Mesenchymal Stem Cell Secretome (MSC-S) platform. Its lead product candidate, KPI-012, is in clinical development for the treatment of persistent corneal epithelial defect (PCED), a rare disease of impaired corneal healing, which has received orphan drug designation from the United States Food and Drug Administration. The Company is evaluating the potential development of KPI-012 for additional rare front-of-the-eye diseases, such as for the treatment of Limbal Stem Cell Deficiency and ocular manifestations of moderate-to-severe Sjogren’s. In addition, it plans to initiate preclinical studies to evaluate the utility of its MSC-S platform for retinal degenerative diseases, such as Retinitis Pigmentosa and Stargardt Disease.