10-K · March 25, 2026
Kiora is a clinical‑stage ophthalmology company advancing two Phase 2 programs: KIO-301 (ABACUS-2, a 36‑patient randomized trial in retinitis pigmentosa) and KIO-104 (KLARITY, Phase 2 enrollment and dosing began in 3Q…
Earnings analysis · 10-Q
KPRX earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
Kiora Pharmaceuticals reported a notable decline in financial performance for Q4 2026 compared to the prior year, with a loss of $2.42M and zero revenue, leading to a significant miss on EPS expectations. The company…
Read full summary
Kiora Pharmaceuticals reported a notable decline in financial performance for Q4 2026 compared to the prior year, with a loss of $2.42M and zero revenue, leading to a significant miss on EPS expectations. The company continues to develop KIO-301 and KIO-104 while seeking further financing to maintain operations into late 2028.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.6
What stood out
-
Zero Revenue Reported
Kiora Pharmaceuticals reported $0.0 in revenue for Q4 2026, missing estimates of $1.5 million.
-
EPS Miss
The company reported an EPS of -1.6, significantly below the estimate of -0.54.
-
Operating Expenses Increase
Total operating expenses rose to $2.51 million, up from $2.33 million in Q4 2025.
-
Cash Increased
Total cash and cash equivalents rose to $11.0 million, compared to $8.7 million at year-end 2025.
-
Private Placement Completed
Kiora completed a private placement raising approximately $5.0 million in gross proceeds.
-
Significant Clinical Pipeline
The company is advancing multiple clinical trials, including KIO-301 and KIO-104 for ophthalmic diseases.
What to watch
-
Ongoing Losses
Kiora has incurred cumulative losses of $156.6 million since inception and anticipates significant future losses.
-
Financing Needs
The company requires additional financing to support operations, with no committed sources of funds currently available.
-
Regulatory Approval Risks
Kiora may face challenges in gaining regulatory approval for its product candidates, which could impact future revenues.
Management's outlook
The company anticipates having sufficient cash to fund operations into late 2028, contingent on successful financing.
Earlier filings 4
10-Q · May 9, 2025
Kiora reported Q1 (three months ended March 31, 2025) revenue of $0 and a net loss of $2,192,980 (GAAP EPS $(0.52)), compared with collaboration revenue of $16,000,000 and net income of $13,453,207 (EPS $4.67) in the…
10-Q · August 9, 2024
Kiora reported Q2 FY2024 revenue of $20,000 and a quarterly net loss of $2,221,646 (basic EPS $(0.53)), a sharp sequential decline in revenue from the $16,000,000 collaboration recognized in Q1. Liquidity materially…
10-K · March 25, 2024
Kiora is a clinical-stage ophthalmology company focused on photoswitch KIO-301 (RP/GA) and DHODH assets KIO-104/KIO-101 (uveitis/OPRA+) and KIO-201 (corneal wound healing). The 10‑K emphasizes a January 25, 2024…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.