 Shares of Kala Pharmaceuticals Inc. KALA, 1.03 shot up 45.7 in premarket trading Wednesday, after the biopharmaceutical company said the Food and Drug Administration accepted its investigational new drug IND application for KPI-012, its treatment of persistent corneal epithelial defect PCED. With the acceptance, the company said late Tuesday that it is now turning its focus to clinical execution, and is looking to initiate a Phase 2 trial KPI-012 in the first quarter of 2023. 