SCHEDULE 13G/A: ADAR1 Capital Management Discloses 4.91% Stake in KALA BIO, Inc.

ADAR1 Capital Management, LLC, along with its general partner and manager Daniel Schneeberger, has disclosed a beneficial ownership of 4.91% in KALA BIO, Inc. as of December 31, 2024.

Summary

• ADAR1 Capital Management, LLC, ADAR1 Capital Management GP, LLC, and Daniel Schneeberger have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in KALA BIO, Inc.
• As of December 31, 2024, ADAR1 Capital Management, LLC and Daniel Schneeberger beneficially own an aggregate of 298,955 shares of KALA BIO, Inc. Common Stock.
• This aggregate amount represents 4.91% of the Issuer's Common Stock outstanding.
• ADAR1 Capital Management GP, LLC beneficially owns 260,182 shares, representing 4.27% of the outstanding Common Stock.
• The shares are held by ADAR1 Partners, LP (260,182 shares) and Spearhead Insurance Solutions IDF, LLC (38,773 shares).
• ADAR1 Capital Management, LLC acts as the investment manager for ADAR1 Partners, LP and sub-advisor for Spearhead Insurance Solutions IDF, LLC.
• ADAR1 Capital Management GP, LLC is the general partner of ADAR1 Partners, LP.
• Daniel Schneeberger is the manager of both ADAR1 Capital Management, LLC and ADAR1 Capital Management GP, LLC.
• The beneficial ownership is based on 6,091,182 shares of Common Stock outstanding as of December 31, 2024, as reported in KALA BIO, Inc.'s prospectus filed on February 4, 2025.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment. It is neutral.

Future Outlook

NA

Industry Context

This filing is a standard disclosure of beneficial ownership by an investment firm, indicating a passive investment stake in KALA BIO, Inc. It does not provide insights into broader industry trends or competitive positioning, but rather reflects an investment decision by a specific entity.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant ownership stakes, which can influence market perception and liquidity, though this specific filing indicates a passive investment below the 5% threshold for active influence.

Key Dates

Keywords

KALA BIO Inc., ADAR1 Capital Management, Beneficial Ownership, Schedule 13G, Common Stock, Investment Management, SEC Filing, Shareholding Disclosure