Kala BIO, Inc. insider trading

Every open-market purchase and sale by Kala BIO, Inc.'s officers, directors and largest shareholders since November 4, 2021, and what the share price did next.

Insider purchases, 5 years $0 0 trades by 0 insiders Insider sales, 5 years $1.3M 8 trades by 6 insiders 3 months later: median −26.7% (−29.7% vs S&P 500)

No insider has bought shares on the open market in five years.

Insider purchase Insider sale Marker size reflects trade value. Weekly closes adjusted for splits; may be delayed.

Kala BIO, Inc. insider open-market trades
Date	Insider	Trade	Shares	Price	Value	1M after	3M after	6M after

From insiders' Form 4 filings with the SEC: open-market purchases and sales only (awards, option exercises and shares withheld for tax are excluded), combined to one line per insider per day. "Plan" marks trades the filing says were made under a pre-set Rule 10b5-1 trading plan, which are scheduled in advance. Price changes run from the close on the trade date; hover a figure for the change relative to the S&P 500. Past moves don't predict future ones.

Does following Kala BIO, Inc.’s insiders pay?

From January 12, 2018 to October 24, 2025, 14 insiders reported 15 open-market purchases and 8 sales not made under a pre-set plan in Kala BIO, Inc. Twelve months after each purchase was reported, the shares were −46.5% against the S&P 500 on average (median −56.7%), over 15 purchases with a full year of prices; 7% beat the index. That rests on fewer than 20 purchases, too few to read much into. Buying each purchase the day after it was reported, an equal amount each, held 12 months or until that insider reported a sale, would have turned $10,000 on January 16, 2018 into $438 by November 2, 2026, −30.0% a year. It held shares 47% of the time; the S&P 500 on those same days, with Treasury bills otherwise, made $20,688 (+8.6% a year), and held throughout $31,189 (+13.8%).

Copying Kala BIO, Inc.'s insidersS&P 500, same days investedS&P 500, held throughout $10,000 copying every open-market purchase by Kala BIO, Inc.'s insiders from January 16, 2018, before costs and taxes, marked weekly. Uninvested money earns the Treasury bill rate; the portfolio held shares 47% of the time.

Kala BIO, Inc.: each insider's record
Insider	Role	Purchases	12 months after their purchases	Beat the S&P 500	Sales	12 months after their sales	Latest report
Orbimed Advisors LLC	10% owner	4	−56.5% (4)	0%	0	—	February 12, 2018
Shah Rajeev M.	10% owner	2	−50.4% (2)	0%	1	—	May 25, 2022
Bazemore Todd	Chief Operating Officer	1	−55.1% (1)	0%	1	—	October 24, 2025
Grunberg Gregory	Director	2	−54.1% (2)	0%	0	—	March 16, 2020
Kolchinsky Peter	10% owner	1	−40.4% (1)	0%	1	—	May 26, 2022
Orbimed Capital Gp VI LLC	10% owner	2	−58.3% (2)	0%	0	—	February 2, 2018
Baker Felix	10% owner	1	−111.2% (1)	0%	0	—	December 31, 2024
Baker Julian	Other	0	—	—	1	—	October 2, 2025
Brazzell Romulus K	SEE REMARKS	0	—	—	1	—	October 24, 2025
Iwicki Mark T	Director	0	—	—	1	—	October 24, 2025
Kharabi Darius	CHIEF BUSINESS OFFICER	0	—	—	1	—	October 24, 2025
Ra Capital Management, L.P.	Director	1	−60.3% (1)	0%	0	—	October 5, 2018
Reumuth Mary	CHIEF FINANCIAL OFFICER	0	—	—	1	—	October 24, 2025
Rosen Howard B	Director	1	+121.3% (1)	100%	0	—	June 3, 2019

Moves are the shares’ return including dividends minus the S&P 500’s, from the close on the first trading day after each report; the number of trades with a finished 12-month window is in brackets. Green means the trade went the insider’s way (a purchase ahead of the index, a sale followed by the shares trailing it). A trade reported both by a director or officer and by a fund or company they are linked to counts once here, under the person. Purchases count only where the share price actually traded was at least $5. These figures describe what the shares did, not why anyone traded. Insiders across all companies.

When several insiders traded Kala BIO, Inc.

Months when 2 or more insiders became net buyers, or 3 or more net sellers, of Kala BIO, Inc. in reports dated in the 91 days before the month end, and how the stock did against the S&P 500 from that month end. After the 3 buying crowds with six months of prices, it averaged −21.2% against the index. One company's history is too short to judge by; the test across every company is the better guide.

Month	Crowd	3 months on, vs S&P 500	6 months	12 months
March 31, 2020	4 buying	−0.6%	−39.8%	−79.6%
October 31, 2018	3 buying	−15.0%	−6.4%	−61.7%
January 31, 2018	2 buying	+10.2%	−17.4%	−59.3%

Colours show whether the crowd was right: green when buyers were followed by a rise above the index, or sellers by a fall below it. Total returns from the month end; past patterns are not a forecast.

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