David E. Lazar Reduces Stake in KALA BIO, Inc. Below 5% Threshold

David E. Lazar filed a Schedule 13D/A on July 2, 2026, reporting a decrease in his holdings of KALA BIO, Inc. (KALA). As of the event date of May 20, 2026, Lazar's beneficial ownership fell below the 5% threshold. Specifically, as of the filing date, he reported owning 719,404 shares of common stock, representing 3.9% of the company based on 18,589,787 shares outstanding. The filing details several open-market sales occurring between May 4, 2026, and June 29, 2026, with prices ranging from $2.18 to $5.61 per share. These transactions follow a 1-for-50 reverse stock split executed by the issuer on May 8, 2026. The shares held by Lazar include conversion shares derived from Series AA Preferred Stock originally purchased via a Securities Purchase Agreement (SPA). Lazar maintains sole voting and dispositive power over the remaining 719,404 shares. This amendment confirms he is no longer a 5% beneficial owner of the issuer's common stock.