<SEC-DOCUMENT>0001172661-25-001098.txt : 20250214
<SEC-HEADER>0001172661-25-001098.hdr.sgml : 20250214
<ACCEPTANCE-DATETIME>20250214150137
ACCESSION NUMBER:		0001172661-25-001098
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250214
DATE AS OF CHANGE:		20250214

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
		IRS NUMBER:				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:		25627284

	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:			Cormorant Asset Management, LP
		CENTRAL INDEX KEY:			0001583977
		ORGANIZATION NAME:           	
		IRS NUMBER:				462108927
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		52ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		857-702-0388

	MAIL ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		52ND FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Cormorant Asset Management, LLC
		DATE OF NAME CHANGE:	20130807
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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  <headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Cormorant Asset Management, LP -->
          <cik>0001583977</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, $0.001 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001479419</issuerCik>
        <issuerName>KALA BIO, Inc.</issuerName>
        <issuerCusip>483119202</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>1167 Massachusetts Avenue</com:street1>
          <com:city>Arlington</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02476</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Cormorant Asset Management, LP</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>609027.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>609027.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>609027.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.99</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Bihua Chen</reportingPersonName>
      <memberGroup>b</memberGroup>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>609027.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>609027.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>609027.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.99</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>KALA BIO, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>1167 Massachusetts Avenue, Arlington, MA 02476</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Cormorant Asset Management, LP
Bihua Chen

This statement is filed by (i) Cormorant Asset Management, LP, a Delaware limited partnership, and the investment adviser to certain funds (the "Cormorant Funds"), with respect to the shares directly held by the Cormorant Funds and (ii) Bihua Chen with respect to the shares directly held by the Cormorant Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the shares reported herein.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>200 Clarendon Street, 52nd Floor
Boston, MA 02116</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Cormorant Asset Management, LP - Delaware Bihua Chen - United States</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>609,027</amountBeneficiallyOwned>
        <classPercent>9.99</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>609,027</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>609,027

The Reporting Persons' holdings reported herein include 6,000 shares of Common Stock issuable upon the conversion of shares of Series I Convertible Non-Redeemable Preferred Stock, ("Series I Preferred Stock") of the Issuer.  The Series I Preferred Stock may be converted to Common Stock only to the extent that such conversion would not cause the holder thereof, together with its affiliates and any other person or entity acting as a group, to beneficially own in excess of 9.99% (subject to adjustment in accordance with the terms of the Series I Preferred Stock) of the shares of Common Stock then outstanding.  If not for such limitation on conversion, the Reporting Persons would beneficially own in excess of 9.99% of the Issuer's outstanding shares of Common Stock.  The Reporting Persons own 603,027 shares of Common Stock and may receive up to 328,600 additional shares of Common Stock, upon the conversion of Series I Preferred Stock, subject to the limitation on conversion.

The percentages reported herein with respect to the Reporting Person's holdings are calculated based upon a statement in the Issuer's Current Report on Form 8-K, as filed with the Securities and Exchange Commission on December 30, 2024, that upon the closing of a private placement, the Issuer expects to have 6,091,182 shares of Common Stock outstanding, based on the 4,750,579 shares of Common Stock outstanding as of December 27, 2024 and after giving effect to the 1,340,603 shares of Common Stock to be issued and sold in the private placement expected to close on December 31, 2024.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>N</notApplicableFlag>
        <ownershipMoreThan5PercentOnBehalfOfAnotherPerson>See Item 2. The Cormorant Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares reported herein. Cormorant Global Healthcare Master Fund, LP, a Cormorant Fund, has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the shares.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>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.</certifications>
      </item10>
    </items>
    <exhibitInfo>JOINT FILING STATEMENT

PURSUANT TO RULE 13d-1(k)

The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

Dated: February 14, 2025

Cormorant Asset Management, LP
By: Cormorant Asset Management GP, LLC
its General Partner

By: /s/ Bihua Chen
Bihua Chen, Managing Member

Bihua Chen
By: /s/ Bihua Chen
Bihua Chen</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>Cormorant Asset Management, LP</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Bihua Chen</signature>
        <title>Bihua Chen, Managing Member</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Bihua Chen</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Bihua Chen</signature>
        <title>Bihua Chen</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
