Key Takeaways KALA's phase IIb study of KPI-012 for PCED failed to meet primary and secondary endpoints.The company will discontinue KPI-012 and its MSC-S platform after the study setback.KALA BIO plans cost cuts and strategic reviews as it reverts to the preclinical stage.Shares of KALA BIO (KALA) have nosedived 88.3% in a month after the company announced the failure of a mid-stage study evaluating its only clinical pipeline candidate, KPI-012, for the treatment of persistent corneal epithelial defect (PC ...