KPRX Stock — Kiora Pharmaceuticals Inc.: Cash, EV, Pipeline

Share price

$2.76

Market cap

$12.2M

Cash

$16.8M

Enterprise value

-$4.6M

Balance sheet

Cash	$16.8M
Debt	$0.0M
Net cash	$16.8M
Enterprise value	-$4.6M
Basic shares	4.4M shares
Fully diluted shares	23.1M shares
Fully diluted market cap	$63.6M
Cash per share	$3.82

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Dec 13, 2026 - Jan 24, 2027	KIO-104	Phase 2	Macular Edema	late 2026
Sep 12 - Oct 24	100 μg KIO-301	Phase 2	Retinitis Pigmentosa	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

KIO-301

Phase 2 · Active Modality: small molecule photoswitch

Aliases B-203

Target potassium and hyperpolarization-activated, cyclic nucleotide-gated voltage-gated ion channels

Partnerships Théa Open Innovation, TOI (sister company of Laboratories Théa; license agreement January 2024, $16M upfront; all KIO-301 expenses reimbursed); Choroideremia Research Foundation (MOU supporting KIO-301 development in choroideremia)

Indications

retinitis pigmentosa (vision restoration) (Stage not disclosed)
choroideremia (potential) (Stage not disclosed)

Status note Small-molecule photoswitch designed to restore vision in inherited and age-related degenerative retinal diseases. ABACUS-2 Phase 2 study in retinitis pigmentosa ongoing.

KIO-104

Phase 2 · Active Modality: small molecule

Aliases PP-001

Target dihydroorotate dehydrogenase (DHODH)

Indications

diabetic macular edema (Stage not disclosed)
posterior non-infectious uveitis (Stage not disclosed)
retinal inflammation (Stage not disclosed)

Status note Non-steroidal small-molecule DHODH inhibitor formulated for intravitreal delivery. Acquired via the Panoptes Pharma acquisition.

KIO-101

Phase 1 · Active Modality: ophthalmic topical eye drop

Target dihydroorotate dehydrogenase (DHODH)

Partnerships Seeking strategic partner (filing-stated)

Indications

not disclosed (Stage not disclosed)

Status note Uses the same active compound as KIO-104 formulated as a topical eye drop. Development paused; asset available for partnership.

Per-asset detail extracted from the 10-Q filed 2026-08-07. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	KIO-104
Lead indication	Macular Edema
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06825702	Phase 2	Recruiting	Sponsor	KPRX	—	Macular Edema	late 2026
NCT06628947	Phase 2	Recruiting	Sponsor	KPRX	—	Retinitis Pigmentosa	—

Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 2 active trials for Kiora Pharmaceuticals, Inc. on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
ADAR1 Capital Management	167,941	no change	0.02%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

KPRX — Kiora Pharmaceuticals Inc.

Balance sheet

Price history

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Institutional holders