Material Event (Form 8-K)

As previously disclosed in the Kala Bio, Inc. (the "Company") Current Report on Form 8-K filed on November 25, 2025, the Company entered into a Loan Settlement Agreement (the "Settlement Agreement") with Oxford Finance, LLC ("Oxford") pursuant to which the Company owed Oxford $2 million to be paid pursuant to the terms of the Settlement Agreement. The Settlement Agreement was entered into in connection with events of default by the Company and its subsidiary, Combangio, Inc., under the Loan and Security Agreement dated May 4, 2021 (the "Loan Agreement"). On December 26, 2025, the Company paid Oxford $2 million. As a result of such payment, all of its obligations under the Settlement Agreement and the Loan Agreement have been satisfied and the aggregate liability due Oxford of approximately $10.6 million has been settled and released.