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KPRX

Kiora Pharmaceuticals, Inc.

KPRX

Kiora Pharmaceuticals, Inc. • NASDAQ
$1.98 ▲ 5.32% (+0.10)
Market Cap $7.26 M
52w High $4.18
52w Low $1.76
Dividend Yield 0%
P/E -0.9
Volume 21.90K
Outstanding Shares 3.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $2.477M ▲ $26.806K ▲ 0% $0.01 ▲ $-578.088K ▲
Q2-2025 $0 $2.396M ▲ $-2.152M ▲ 0% $-0.54 ▼ $-2.255M ▼
Q1-2025 $0 $2.33M ▼ $-2.193M ▲ 0% $-0.52 ▲ $-2.055M ▲
Q4-2024 $0 $2.565M ▼ $-4.224M ▼ 0% $-1.41 ▼ $-2.4M ▲
Q3-2024 $0 $3.602M $-3.413M 0% $-0.81 $-2.696M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $19.375M ▼ $29.863M ▼ $7.453M ▼ $22.411M ▲
Q2-2025 $20.666M ▼ $31.946M ▼ $9.818M ▼ $22.127M ▼
Q1-2025 $24.106M ▼ $34.02M ▼ $10.319M ▼ $23.7M ▼
Q4-2024 $26.792M ▼ $36.484M ▼ $10.725M ▲ $25.76M ▼
Q3-2024 $29.035M $38.509M $8.479M $30.03M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $26.806K ▲ $-1.273M ▲ $5.741M ▲ $0 ▼ $4.481M ▲ $-1.274M ▲
Q2-2025 $-2.152M ▲ $-3.803M ▼ $664.172K ▼ $265.359K ▲ $-2.742M ▼ $-3.836M ▼
Q1-2025 $-2.193M ▲ $-2.704M ▼ $2.673M ▲ $0 $-21.274K ▲ $-2.704M ▼
Q4-2024 $-4.224M ▼ $-2.252M ▼ $482.683K ▲ $0 $-1.845M ▼ $-2.207M ▼
Q3-2024 $-3.413M $920.057K $-1.92M $0 $-938.034K $920.057K

Five-Year Company Overview

Income Statement

Income Statement Kiora is still a classic clinical‑stage biotech story: almost no product revenue yet and a history of operating losses. The pattern suggests spending is focused on research and development rather than generating sales. Recent figures hint at some improvement in operating results, but that can be driven by accounting or one‑time items, not by a real, recurring business yet. Earnings per share have swung wildly over time, largely influenced by repeated reverse stock splits rather than underlying profitability. Overall, the income statement reflects a company still in the investment phase, not yet in the earnings phase.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small base of assets and equity and no meaningful debt, which reduces financial leverage risk but also shows how lean the company is. Cash balances in the historical data look modest, but the narrative indicates that management believes it has funding visibility for several more years, likely due to capital raises not fully reflected in the summarized history. The multiple reverse splits over time signal that the share count and stock price have been actively managed, often a sign of long‑term pressure on market value. In short, the balance sheet is simple, relatively unlevered, and heavily dependent on continued access to capital markets and partnership funding.

Cash Flow

Cash Flow Cash flows look like what you would expect from a development‑stage biotech: persistent cash outflows from operations as the company funds trials and overhead, with essentially no spending on physical assets. Free cash flow has historically been negative, meaning the business is consuming cash rather than generating it, and external funding (equity or deals) is needed to bridge the gap. Any short‑term improvement in operating cash flow should be viewed cautiously, as it may not be sustainable until there is either partnered income or product launches. The key question for cash flow is how tightly management controls its burn rate relative to the clinical milestones it aims to reach.

Competitive Edge

Competitive Edge Kiora is competing in a focused niche within eye‑care, targeting rare inherited retinal diseases, retinal inflammation, and corneal wound healing. Its main edge comes from being early and specialized in areas where treatments are limited or imperfect, rather than trying to compete head‑on with large pharma on crowded indications. The company’s patent portfolio, especially around KIO‑301 and KIO‑104, and long‑dated protection, help create legal barriers to copycat drugs. Strategic alliances with established ophthalmology companies in major regions add commercial muscle and validation it could not easily build alone. Against that, Kiora is still small, has no approved products, and faces both scientific and competitive pressure from gene therapies, biologics, and larger firms with deeper pockets. Its competitive position is promising but still unproven and highly dependent on successful trial outcomes.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Kiora’s story. The pipeline focuses on three main candidates with distinct scientific angles: restoring vision through a molecular photoswitch that does not depend on a specific mutation, reducing retinal inflammation with a non‑steroidal, locally delivered drug that aims to avoid steroid side effects, and improving corneal healing with a modified form of hyaluronic acid that stays on the eye longer. This mix targets meaningful clinical gaps rather than just incremental improvements. The company’s emphasis on intellectual property, formulation advances, and collaborations with global partners underlines a strategy of using science and licensing to gain leverage. However, all key assets are still in clinical development, so the usual biotech risks apply: trial setbacks, regulatory uncertainty, and the possibility that real‑world effectiveness or safety does not match early data.

Summary

Overall, Kiora looks like a high‑risk, high‑uncertainty development‑stage biotech built around specialized ophthalmology science. Financially, it has minimal revenue, a history of losses, and a thin but relatively clean balance sheet without significant debt, relying on external funding, partnerships, and equity to support its clinical programs. Strategically, it stands out for its focus on underserved eye diseases, differentiated mechanisms of action, and supportive collaborations that could help with commercialization if the drugs succeed. The key swing factors going forward are the results of mid‑stage clinical trials, how efficiently the company manages its cash burn versus its stated runway, and whether partners deepen their commitments. Until there is clear clinical validation and a path to commercial revenue, the profile remains that of an early‑stage, science‑driven company with meaningful upside potential but substantial execution and financing risk.

NEWS

November 7, 2025 · 6:00 AM UTC

Kiora Pharmaceuticals Reports Third Quarter 2025 Results; Company Advances Pipeline with Two Actively Enrolling Phase 2 Clinical Trials for Retinal Diseases

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October 30, 2025 · 9:00 AM UTC

Kiora Pharmaceuticals Joins RARE-X Vision Consortium Promoting Collaboration and Development of New Treatments for Rare Ocular Disorders

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October 15, 2025 · 7:00 AM UTC

Kiora Pharmaceuticals to Participate in the 2025 Maxim Growth Summit and Eyecelerator @ AAO 2025

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