BAKER BROS. ADVISORS LP - 30 Sep 2025 Form 4 Insider Report for KALA BIO, Inc. (KALA)

Reporting relationship: Former 10% owner
Issuer ticker: KALA
Reported as of: 30 Sep 2025
Net transaction value: -$1,056,722
SEC form: 4
Accepted by SEC: 02 Oct 2025, 16:47:53 UTC
Prior SEC filing: 10 Sep 2025
Next SEC filing: 12 Nov 2025
Source filing: View source filing
Reporting owner signature: By: Baker Bros. Advisors LP, Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing

Key filing fact

BAKER BROS. ADVISORS LP filed Form 4 for KALA BIO, Inc. (KALA) on 02 Oct 2025.

Key facts

This page summarizes BAKER BROS. ADVISORS LP's Form 4 filing for KALA BIO, Inc. (KALA).
4 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 02 Oct 2025, 16:47.

Change

Previous filing in this sequence was filed on 10 Sep 2025.
Current net transaction value: -$1,056,722.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (4)

CIK 0001263508 Primary reporting owner

BAKER BROS. ADVISORS LP

Relationship: Former 10% owner
Address: 860 WASHINGTON STREET, 3RD FLOOR, NEW YORK
Signature: By: Baker Bros. Advisors LP, Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing
Signature date: 02 Oct 2025

CIK 0001580575

Baker Bros. Advisors (GP) LLC

Relationship: Former 10% owner
Address: 860 WASHINGTON STREET, 3RD FLOOR, NEW YORK
Signature: By: Baker Bros. Advisors (GP) LLC, Name: Scott L. Lessing, Title: President /s/ Scott L. Lessing
Signature date: 02 Oct 2025

CIK 0001087940

BAKER FELIX

Relationship: Former 10% owner
Address: 860 WASHINGTON STREET, 3RD FLOOR, NEW YORK
Signature: /s/ Felix J. Baker
Signature date: 02 Oct 2025

CIK 0001087939

BAKER JULIAN

Relationship: Former 10% owner
Address: 860 WASHINGTON STREET, 3RD FLOOR, NEW YORK
Signature: /s/ Julian C. Baker
Signature date: 02 Oct 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

KALA transaction

Common Stock

Sale

Transaction value: $34,114
Shares: -21,376
Change %: -18%
Price: $1.60
Shares after: 97,120
Date: 30 Sep 2025
Ownership: See Footnotes
Footnotes: F1, F2, F3, F4

KALA transaction

Common Stock

Sale

Transaction value: $311,879
Shares: -195,425
Change %: -18%
Price: $1.60
Shares after: 887,973
Date: 30 Sep 2025
Ownership: See Footnotes
Footnotes: F1, F3, F4, F5

KALA transaction

Common Stock

Sale

Transaction value: $70,076
Shares: -50,640
Change %: -52%
Price: $1.38
Shares after: 46,480
Date: 01 Oct 2025
Ownership: See Footnotes
Footnotes: F2, F3, F4, F6

KALA transaction

Common Stock

Sale

Transaction value: $640,654
Shares: -462,967
Change %: -52%
Price: $1.38
Shares after: 425,006
Date: 01 Oct 2025
Ownership: See Footnotes
Footnotes: F3, F4, F5, F6

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

BAKER BROS. ADVISORS LP is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 6 footnotes

Footnote F1

The price reported in Column 4 is a weighted average price. These shares of common stock ("Common Stock") of KALA BIO, Inc. (the "Issuer") were traded by 667, L.P. ("667") and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds") in multiple transactions at prices ranging from $1.50 to $1.84, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "Staff"), upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.

Footnote F2

After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Biotech Capital, L.P. and (ii) 667, Julian C. Baker and Felix J. Baker each may be deemed to have an indirect pecuniary interest in Common Stock reported in column 5 of Table I directly held by 667, a limited partnership of which the sole general partner is Baker Biotech Capital, L.P., a limited partnership of which the sole general partner is Baker Biotech Capital (GP), LLC, due to their interest in 667 and Baker Biotech Capital, L.P.'s right to receive an allocation of a portion of the profits from 667.

Footnote F3

Baker Bros. Advisors LP (the "Adviser") serves as the investment adviser to the Funds. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held directly by the Funds. Baker Bros. Advisors (GP) LLC (the "Adviser GP") is the Adviser's sole general partner. Julian C. Baker and Felix J. Baker are managing members of the Adviser GP. The Adviser has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds. The general partners of the Funds relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held directly by the Funds.

Footnote F4

Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by the Funds except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any of Julian C. Baker, Felix J. Baker, the Adviser GP or the Adviser is a beneficial owner of such securities for purposes of Section 16 or any other purpose.

Footnote F5

After giving effect to the transactions reported herein and as a result of their ownership interest in (i) Baker Brothers Life Sciences Capital, L.P. and (ii) Life Sciences, Julian C. Baker and Felix J.Baker each may be deemed to have an indirect pecuniary interest in Common Stock reported in column 5 of Table I directly held by Life Sciences, a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital, L.P., a limited partnership of which the sole general partner is Baker Brothers Life Sciences Capital (GP), LLC, due to their interest in Life Sciences and Baker Brothers Life Sciences Capital, L.P.'s right to receive an allocation of a portion of the profits from Life Sciences.

Footnote F6

The price reported in Column 4 is a weighted average price. These shares were traded by 667 and Life Sciences in multiple transactions at prices ranging from $1.27 to $1.48, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the Staff, upon request, full information regarding the number of shares traded at each separate price within the range set forth in this footnote.