# EDGAR Filing Document

**Accession Number:** 0001479419
**File Stem:** 0001104659-25-096420
**Filing Date:** 2025-10
**Character Count:** 21421
**Document Hash:** f6bb95c8785d2f8f0dd52445f1f36872
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-096420.hdr.sgml**: 20251003

**ACCESSION NUMBER**: 0001104659-25-096420

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251003

**DATE AS OF CHANGE**: 20251003

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KALA BIO, Inc.
- **CENTRAL INDEX KEY:** 0001479419
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 270604595
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-90054
- **FILM NUMBER:** 251372195

**BUSINESS ADDRESS:**
- **STREET 1:** 1167 MASSACHUSETTS AVENUE
- **CITY:** ARLINGTON
- **STATE:** MA
- **ZIP:** 02476
- **BUSINESS PHONE:** 781-996-5252

**MAIL ADDRESS:**
- **STREET 1:** 1167 MASSACHUSETTS AVENUE
- **CITY:** ARLINGTON
- **STATE:** MA
- **ZIP:** 02476

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Kala Pharmaceuticals, Inc.
- **DATE OF NAME CHANGE:** 20091223
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BAKER BROS. ADVISORS LP
- **CENTRAL INDEX KEY:** 0001263508

**ORGANIZATION NAME:**
- **EIN:** 134093645
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**BUSINESS ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014
- **BUSINESS PHONE:** 2123395600

**MAIL ADDRESS:**
- **STREET 1:** 860 WASHINGTON STREET
- **STREET 2:** 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10014

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BAKER BROS ADVISORS LLC
- **DATE OF NAME CHANGE:** 20030911

## Exhibit 99.1

**EXHIBIT 99.1**

**JOINT FILING AGREEMENT**

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that this Statement on Schedule 13G relating to the Common Stock of KALA BIO, Inc. is being filed with the Securities and Exchange Commission on behalf of each of them.

October 3, 2025

---

| | |
|:---|:---|
| **BAKER BROS. ADVISORS LP**<br>By: Baker Bros. Advisors (GP) LLC,<br> its general partner | **BAKER BROS. ADVISORS LP**<br>By: Baker Bros. Advisors (GP) LLC,<br> its general partner |
| By: | /s/ Scott L. Lessing |
|  | Name: Scott L. Lessing<br> Title: President |
| **BAKER BROS. ADVISORS (GP) LLC** | **BAKER BROS. ADVISORS (GP) LLC** |
| By: | /s/ Scott L. Lessing |
|  | Name: Scott L. Lessing<br> Title: President |
|  | /s/ Julian C. Baker |
|  | Julian C. Baker |
|  | /s/ Felix J. Baker |
|  | Felix J. Baker |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** KALA BIO, Inc.

**Title of Class of Securities:** Common Stock, $0.001 par value per share

**CUSIP Number:** 483119202

**Date of Event Which Requires Filing of this Statement:** 10/02/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [x] Rule 13d-1(b)

- [ ] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Baker Bros. Advisors LP | Names of Reporting Persons<br>Baker Bros. Advisors LP |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>IA, PN | Type of Reporting Person (See Instructions)<br>IA, PN |

---

| 1. | Names of Reporting Persons<br>Baker Bros. Advisors (GP) LLC | Names of Reporting Persons<br>Baker Bros. Advisors (GP) LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, OO | Type of Reporting Person (See Instructions)<br>HC, OO |

---

| 1. | Names of Reporting Persons<br>Julian C. Baker | Names of Reporting Persons<br>Julian C. Baker |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

| 1. | Names of Reporting Persons<br>Felix J. Baker | Names of Reporting Persons<br>Felix J. Baker |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>744759.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>744759.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

**Item 1(a). Name of Issuer:**
KALA BIO, Inc.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
1167 Massachusetts Avenue, Arlington, MA 02476

**Item 2(a). Name of Person Filing:**
This Schedule 13G is being filed by Baker Bros. Advisors LP (the "Adviser"), Baker Bros. Advisors (GP) LLC (the "Adviser GP"), Julian C. Baker and Felix J. Baker (collectively, the "Reporting Persons").

The Reporting Persons have previously filed reports on Schedule 13D.  However, on October 2, 2025, the Reporting Persons filed a 13D disclosing sales that resulted in 667, L.P. ("667") and Baker Brothers Life Sciences, L.P. ("Life Sciences", and together with 667, the "Funds") not currently having the right, pursuant to the Securities Purchase Agreement with the Issuer dated November 28, 2022, to require that KALA BIO, Inc. ("the Issuer") nominate individuals designated by the Funds for election to the Issuer's Board of Directors (the "Board") and recommend these individuals' election to the Board.

As of October 2, 2025 and the date hereof, the Reporting Persons hold securities of the Issuer in the ordinary course of business without the purpose of or with the effect of changing or influencing the control of the Issuer and do not hold such securities in connection with or as a participant in any transaction having that purpose or effect.

**Item 2(b). Address of Principal Business Office:**
The business address of each of the Reporting Persons is:
c/o Baker Bros. Advisors LP
860 Washington Street, 3rd Floor
New York, NY 10014
 (212) 339-5690

**Item 2(c). Citizenship:**
The Adviser is a limited partnership organized under the laws of the State of Delaware. The Adviser GP is a limited liability company organized under the laws of the State of Delaware. The citizenship of each of Julian C. Baker and Felix J. Baker is the United States of America.

**Item 2(d). Title of Class of Securities:**
Common Stock, $0.001 par value per share

**Item 2(e). CUSIP Number:**
483119202

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [x] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [x] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

(a) Items 5 through 9 and 11 of each of the cover pages to this Schedule 13G are incorporated herein by reference. The shares beneficially owned by each of the Reporting Persons includes 434,200 shares of Common Stock issuable upon the conversion of 4,342 Series E non-voting convertible non-redeemable preferred stock ("Series E Preferred") of the Issuer convertible at any time on a 1-to-100 basis without consideration into Common Stock, subject to limitations on conversion described below, held directly by the Funds. The percentage of beneficial ownership for each of the Reporting Persons reported herein is based on 7,021,040 shares of Common Stock outstanding as of August 7, 2025 as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on August 8, 2025 plus 434,200 shares of Common Stock issuable upon the conversion of 4,342 Series E Preferred held directly by the Funds.
Set forth below is the aggregate number of shares of Common Stock directly held by each of the Funds, which may be deemed to be indirectly beneficially owned by the Reporting Persons, as well as shares of Common Stock that may be acquired upon conversion of Series E Preferred, Series F non-voting convertible non-redeemable preferred stock ("Series F Preferred") of the Issuer convertible at any time on a 1-to-100 basis without consideration into Common Stock, subject to limitations on conversion described below, Series G non-voting convertible non-redeemable preferred stock ("Series G Preferred") of the Issuer convertible at any time on a 1-to-100 basis without consideration into Common Stock, subject to limitations on conversion described below and Series H non-voting convertible non-redeemable preferred stock ("Series H Preferred") of the Issuer convertible at any time on a 1-to-100 basis without consideration into Common Stock, subject to the limitations on conversion described below.
The Series E Preferred, Series F Preferred, Series G Preferred and Series H Preferred (collectively the "Convertible Preferred") are only convertible to the extent that after giving effect or immediately prior to such conversion the holders thereof and their affiliates and any persons who are members of a Section 13(d) group with the holders or their affiliates would beneficially own in the aggregate, for purposes of Rule 13d-3 under the Exchange Act, no more than 9.99% of the outstanding Common Stock of the Issuer (the "Beneficial Ownership Limitation"). As a result of the Beneficial Ownership Limitation, the number of shares of Common Stock that may be issued upon conversion of the shares of the Convertible Preferred by the above holders may change depending upon changes in the outstanding shares of Common Stock. By notice to the Issuer, the Funds may increase or decrease the Beneficial Ownership Limitation applicable to that Fund to any other percentage not in excess of 19.99%; provided that any such increase will not be effective until the 61st day after such notice is delivered to the Issuer.
The foregoing description of the Series E Preferred does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Designations, Preferences and Rights of Series E Convertible Non-Redeemable Preferred Stock of the Issuer, a copy of which was filed as Exhibit 3.1 to the Issuer's Form 8-K filed with the SEC on November 28, 2022, and is incorporated herein by reference.
The foregoing description of the Series F Preferred does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Designations, Preferences and Rights of Series F Convertible Non-Redeemable Preferred Stock of the Issuer, a copy of which was filed as Exhibit 3.1 to the Issuer's Form 8-K filed with the SEC on December 22, 2023, and is incorporated herein by reference.
The foregoing description of the Series G Preferred does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Designations, Preferences and Rights of Series G Convertible Non-Redeemable Preferred Stock of the Issuer, a copy of which was filed as Exhibit 3.1 to the Issuer's Form 8-K filed with the SEC on March 26, 2024, and is incorporated herein by reference.
The foregoing description of the Series H Preferred does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Designations, Preferences and Rights of Series H Convertible Non-Redeemable Preferred Stock of the Issuer, a copy of which was filed as Exhibit 3.1 to the Issuer's Form 8-K filed with the SEC on June 27, 2024, and is incorporated herein by reference.
Pursuant to the management agreements, as amended, among the Adviser, the Funds and their respective general partners, the Funds' respective general partners relinquished to the Adviser all discretion and authority with respect to the investment and voting power of the securities held by the Funds, and thus the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments.
The Adviser GP is the sole general partner of the Adviser. The Adviser GP, Felix J. Baker and Julian C. Baker as managing members of the Adviser GP, and the Adviser may be deemed to be beneficial owners of securities of the Issuer directly held by the Funds.

**(b) Percent of class:**

The Funds beneficially own 744,759 shares of Common Stock or 9.99% of the outstanding Common Stock. 667 beneficially owns 0.99% and Life Sciences beneficially owns 9.0% of the outstanding Common Stock.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

667 directly holds 30,620 shares of Common Stock and Life Sciences directly holds 279,939 shares of Common Stock. The shares beneficially owned by each of the Reporting Persons includes 434,200 shares of Common Stock issuable upon the conversion of 4,342 Series E Preferred held directly by the Funds.

**(ii) Shared power to vote or to direct the vote:**

0

**(iii) Sole power to dispose or to direct the disposition of:**

667 directly holds 30,620 shares of Common Stock and Life Sciences directly holds 279,939 shares of Common Stock. The shares beneficially owned by each of the Reporting Persons includes 434,200 shares of Common Stock issuable upon the conversion of 4,342 Series E Preferred held directly by the Funds.

**(iv) Shared power to dispose or to direct the disposition of:**

0

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

The information in Item 4 is incorporated herein by reference.

**Item 8. Identification and Classification of Members of the Group**

Not Applicable

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Baker Bros. Advisors LP**

**Date:** 10/03/2025

**By:** /s/ Scott L. Lessing

**Name & Title:** By: Baker Bros. Advisors (GP) LLC, its general partner Scott L. Lessing/ President

**Baker Bros. Advisors (GP) LLC**

**Date:** 10/03/2025

**By:** /s/ Scott L. Lessing

**Name & Title:** Scott L. Lessing/ President

**Julian C. Baker**

**Date:** 10/03/2025

**By:** /s/ Julian C. Baker

**Name & Title:** Julian C. Baker

**Felix J. Baker**

**Date:** 10/03/2025

**By:** /s/ Felix J. Baker

**Name & Title:** Felix J. Baker