<SEC-DOCUMENT>0001415889-23-009142.txt : 20230602
<SEC-HEADER>0001415889-23-009142.hdr.sgml : 20230602
<ACCEPTANCE-DATETIME>20230602200046
ACCESSION NUMBER:		0001415889-23-009142
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230531
FILED AS OF DATE:		20230602
DATE AS OF CHANGE:		20230602

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PERRY GREGORY D
		CENTRAL INDEX KEY:			0001236371

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38150
		FILM NUMBER:		23990924

	MAIL ADDRESS:	
		STREET 1:		C/O IMMUNOGEN, INC.
		STREET 2:		830 WINTER ST.
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kala Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001479419
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				270604595
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-06022023_080638.xml
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<ownershipDocument>

    <schemaVersion>X0407</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2023-05-31</periodOfReport>

    <issuer>
        <issuerCik>0001479419</issuerCik>
        <issuerName>Kala Pharmaceuticals, Inc.</issuerName>
        <issuerTradingSymbol>KALA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001236371</rptOwnerCik>
            <rptOwnerName>PERRY GREGORY D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KALA PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1167 MASSACHUSETTS AVENUE</rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02476</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2023-05-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>1738</value>
                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <ownershipNature>
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                <natureOfOwnership>
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                </natureOfOwnership>
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        </nonDerivativeTransaction>
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    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
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            <expirationDate>
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            <underlyingSecurity>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
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                <footnoteId id="F3"/>
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            <transactionDate>
                <value>2023-05-31</value>
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            <exerciseDate>
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            <expirationDate>
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            </expirationDate>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
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            </securityTitle>
            <conversionOrExercisePrice>
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                <footnoteId id="F3"/>
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            <transactionDate>
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                <transactionCode>D</transactionCode>
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                    <footnoteId id="F3"/>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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            <exerciseDate>
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            <expirationDate>
                <value>2032-06-15</value>
            </expirationDate>
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                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On May 31, 2023, the issuer canceled, pursuant to the issuer's option exchange program, all outstanding unexercised options granted to the reporting person. In exchange, the reporting person received (i) in the case of the canceled options that were fully vested, a grant of 938 restricted stock units (the &quot;RSUs&quot;) that vest over two years, with 50% of such RSUs vesting on May 31, 2024 and 50% of such RSUs vesting on May 31, 2025 and (ii) in the case of the canceled options that were unvested, a grant of 800 RSUs that vest 100% on May 31, 2025, in each case, subject to the reporting person's continued service with the issuer. Each RSU represents a contingent right to receive one share of the issuer's common stock.</footnote>
        <footnote id="F2">Includes 2,538 unvested or deferred RSUs.</footnote>
        <footnote id="F3">The number of shares and exercise price reflect a 1-for-50 reverse stock split effected by the Issuer on October 20, 2022.</footnote>
        <footnote id="F4">The cancelled option was granted on February 28, 2018 and provided for vesting with respect to 1/3rd of the shares on the first anniversary of the grant and with respect to an additional 1/36th of the shares on each monthly anniversary thereafter and was subject to vest automatically as to 100% of the unvested portion of such option upon specified change in control events.</footnote>
        <footnote id="F5">The cancelled option was granted on June 5, 2019 and provided for vesting with respect to 1/12th of the shares underlying the option at the end of each successive one-month period thereafter.</footnote>
        <footnote id="F6">The cancelled option was granted on June 16, 2022 and provided for vesting as to 100% of the shares underlying the option on the earlier of (i) June 16, 2023 or (ii) the date of the first annual meeting following June 16, 2022.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Mary Reumuth, Attorney-in-Fact</signatureName>
        <signatureDate>2023-06-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
