Estados financieros detallados de KALA BIO, Inc. (KALA): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $0.52, KALA presenta beneficios negativos (P/E no significativo) y un ROE del -222.32%. La capitalización bursátil es de $10M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | $6.1M | $6.4M | $11.2M | $3.9M | 0 | 0 | 0 |
| Coste de Ventas | $297000 | $643000 | $955000 | $2.8M | $3.2M | $4.1M | $2.6M | $303000 | $259000 | 0 |
| Beneficio Bruto | -$297000 | -$643000 | -$955000 | $3.2M | $3.2M | $7.1M | $1.3M | -$303000 | -$259000 | 0 |
| I+D | $25.0M | $29.0M | $29.3M | $27.0M | $18.4M | $11.5M | $17.7M | $18.6M | $21.8M | $18.8M |
| Generales y Administrativos | $7.3M | $10.2M | $34.5M | $64.5M | $81.1M | $105.1M | $65.0M | $20.3M | $18.3M | $23.6M |
| Gastos Operativos | $32.4M | $39.2M | $63.8M | $91.5M | $99.4M | $116.6M | $82.7M | $38.9M | $40.2M | $39.2M |
| Beneficio Operativo | -$32.7M | -$39.9M | -$64.7M | -$88.2M | -$96.2M | -$109.4M | -$81.4M | -$39.2M | -$40.4M | -$39.2M |
| EBITDA | -$32.4M | -$39.2M | -$63.8M | -$85.6M | -$93.4M | -$132.0M | -$36.7M | -$36.1M | -$32.5M | -$23.4M |
| Gastos por Intereses | $767000 | $1.0M | $3.3M | $8.5M | $8.6M | $8.4M | $7.3M | $5.8M | $5.8M | $3.3M |
| Beneficio Antes de Impuestos | -$33.2M | -$42.2M | -$66.7M | -$94.3M | -$104.3M | -$142.6M | -$44.8M | -$42.2M | -$38.5M | -$27.0M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$33.2M | -$42.2M | -$66.7M | -$94.3M | -$104.3M | -$142.6M | -$44.8M | -$42.2M | -$38.5M | -$27.0M |
| BPA | $-95.95 | $-99.20 | $-124.73 | $-138.00 | $-99.50 | $-108.32 | $-1474.00 | $-867.50 | $-507.50 | $-165.50 |
| BPA Diluido | $-95.95 | $-99.20 | $-124.73 | $-138.00 | $-99.50 | $-108.32 | $-1474.00 | $-867.50 | $-507.50 | $-165.50 |
| Acciones en Circulación (Diluidas) | $345667 | $425499 | $535078 | $684195 | $1.0M | $1.3M | $30412 | $48640 | $75920 | $162965 |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | -$54000 | 0 | 0 |
| Beneficio Operativo | -$7.2M | -$10.2M | -$1.8M | -$1.7M |
| EBITDA | -$6.5M | $881000 | -$1.6M | -$1.6M |
| Beneficio Neto | -$7.6M | $686000 | -$1.6M | -$1.6M |
| BPA | $-53.50 | $0.00 | $-7.00 | $-21.32 |
| BPA Diluido | $-53.50 | $0.00 | $-7.00 | $-21.32 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $45.5M | $114.6M | $170.9M | $85.4M | $77.3M | $92.1M | $70.5M | $50.9M | $51.2M | $7.6M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $76.3M | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | 0 | $1.0M | $13.1M | $9.9M | $17.5M | $6.5M | $236000 | 0 | 0 |
| Inventario | 0 | 0 | $4.1M | $4.6M | $5.2M | $8.6M | 0 | 0 | 0 | 0 |
| Activos Corrientes | $45.6M | $115.2M | $177.0M | $105.5M | $171.4M | $124.4M | $85.9M | $52.9M | $52.8M | $9.5M |
| Inmovilizado Material | $594000 | $786000 | $31.7M | $32.5M | $31.0M | $4.0M | $416000 | $2.8M | $2.4M | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $46.3M | $116.1M | $221.0M | $154.3M | $221.6M | $139.4M | $86.8M | $55.9M | $55.5M | $9.5M |
| Cuentas por Pagar | $997000 | $1.2M | $5.4M | $2.5M | $1.7M | $4.9M | $2.3M | $919000 | $628000 | $986000 |
| Deuda a Corto | $556000 | $6.7M | 0 | 0 | 0 | 0 | $5.0M | 0 | $10.3M | 0 |
| Pasivos Corrientes | $5.5M | $14.5M | $17.0M | $24.8M | $22.2M | $37.4M | $25.7M | $8.3M | $17.0M | $2.5M |
| Deuda a Largo | $9.1M | $12.0M | $70.2M | $71.2M | $72.2M | $78.9M | $37.9M | $34.2M | $20.1M | 0 |
| Pasivos Totales | $134.1M | $26.5M | $116.0M | $124.6M | $121.6M | $122.6M | $67.8M | $48.4M | $43.2M | $2.5M |
| Reservas | -$92.1M | -$134.4M | -$201.1M | -$295.5M | -$399.8M | -$542.4M | -$587.2M | -$629.4M | -$667.9M | -$694.9M |
| Patrimonio Neto | -$87.8M | $89.7M | $105.0M | $29.7M | $100.0M | $16.8M | $19.0M | $7.5M | $12.3M | $7.0M |
| Deuda Total | $9.7M | $18.7M | $99.4M | $101.2M | $100.9M | $80.2M | $43.0M | $36.3M | $32.3M | 0 |
| Deuda Neta | -$35.8M | -$95.9M | -$71.5M | $15.7M | -$52.6M | -$11.9M | -$27.5M | -$14.6M | -$18.9M | -$7.6M |
| Capital Circulante | $40.1M | $100.8M | $160.0M | $80.7M | $149.2M | $86.9M | $60.3M | $44.5M | $35.8M | $7.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $21.1M | $7.6M | $1.8M | $229000 |
| Activos Totales | $25.0M | $9.5M | $12.3M | $10.6M |
| Pasivos Totales | $33.7M | $2.5M | $1.6M | $1.5M |
| Patrimonio Neto | -$8.7M | $7.0M | $10.8M | $9.0M |
| Deuda Total | $29.9M | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$33.2M | -$42.2M | -$66.7M | -$94.3M | -$104.3M | -$142.6M | -$44.8M | -$42.2M | -$38.5M | -$27.0M |
| Amortizaciones | $297000 | $287000 | $955000 | $843000 | $912000 | $975000 | $537000 | $303000 | $259000 | $317000 |
| Compensación en Acciones | $2.1M | $3.6M | $8.6M | $10.0M | $13.3M | $16.1M | $7.0M | $7.5M | $8.4M | $7.0M |
| Cambio en Capital Circulante | $1.7M | $2.3M | $2.4M | -$11.9M | -$3.6M | -$10.6M | $491000 | $8.9M | -$1.8M | -$5.5M |
| Flujo de Caja Operativo | -$27.3M | -$34.1M | -$54.1M | -$92.7M | -$90.7M | -$108.2M | -$78.9M | -$27.9M | -$29.4M | -$32.0M |
| Inversiones (CapEx) | -$153000 | -$480000 | -$1.6M | -$1.3M | -$1.9M | -$886000 | -$313000 | -$610000 | -$208000 | -$15000 |
| Adquisiciones | 0 | 0 | 0 | 0 | $2.1M | -$4.7M | $62.9M | $47000 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$27.5M | -$34.6M | -$55.7M | -$94.1M | -$92.6M | -$109.1M | -$79.2M | -$28.5M | -$29.6M | -$32.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$10.9M | -$4.6M | -$2.9M | -$1.5M |
| Inversiones (CapEx) | $16000 | -$16000 | 0 | 0 |
| Flujo de Caja Libre | -$10.9M | -$4.6M | -$2.9M | -$1.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.0M | $401000 | -$471000 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | +4.7% | +76.7% | -65.4% | -100.0% | | |
| Crecimiento Beneficio Neto (anual) | | -27.3% | -58.1% | -41.4% | -10.6% | -36.7% | +68.6% | +5.9% | +8.7% | +29.9% |
| Crecimiento BPA (anual) | | -3.4% | -25.7% | -10.6% | +27.9% | -8.9% | -1260.8% | +41.1% | +41.5% | +67.4% |
| Cambio en Acciones (anual) | | +23.1% | +25.8% | +27.9% | +53.1% | +25.7% | -97.7% | +59.9% | +56.1% | +114.7% |
| Crecimiento FCF (anual) | | -25.7% | -61.1% | -68.9% | +1.5% | -17.8% | +27.4% | +64.0% | -3.7% | -8.1% |
| Margen Bruto | | | | 53.1% | 50.1% | 63.5% | 34.2% | | | |
| Margen Operativo | | | | -1452.5% | -1512.6% | -973.6% | -2090.3% | | | |
| Margen EBITDA | | | | -1409.4% | -1468.0% | -1174.0% | -942.9% | | | |
| Margen Neto | | | | -1553.3% | -1639.8% | -1268.7% | -1151.6% | | | |
| Margen FCF | | | | -1548.5% | -1456.1% | -970.8% | -2035.5% | | | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-79.56 | $-81.26 | $-104.10 | $-137.47 | $-88.43 | $-82.89 | $-2604.93 | $-586.70 | $-389.75 | $-196.31 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $345667 | $425499 | $535078 | $684195 | $1.0M | $1.3M | $30412 | $48640 | $75920 | $162965 |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -222.32% |
| Rentabilidad sobre capital invertido | -232.05% |
| Rentabilidad sobre activos | -95.26% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 6.88 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -60.75 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -481.76 | -465.98 | -98.01 | -66.85 | -170.35 | -27.93 | -1.29 | -0.40 | -0.68 | -0.17 |
| P/VC | -182.07 | 219.32 | 62.31 | 212.57 | 177.57 | 236.99 | 3.06 | 2.27 | 2.14 | 0.65 |
| P/V | 0.00 | 0.00 | 0.00 | 1039.13 | 2790.94 | 354.31 | 14.91 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 53.1% | 50.1% | 63.5% | 34.2% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | -1452.5% | -1512.6% | -973.6% | -2090.3% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | -1553.3% | -1639.8% | -1268.7% | -1151.6% | 0.0% | 0.0% | 0.0% |