Kalaris Therapeutics (KLRS) reported late Wednesday positive initial data from its Phase 1a trial of its investigational drug for treating naive neovascular AMD patients.

The single ascending dose (SAD) trial showed the drug candidate, TH103, had clinically meaningful improvements in vision and retinal anatomy.

The trial also indicated early signs of potential for extended treatment durability.

The company expects to share preliminary data from the ongoing Phase 1b/2 study in the second half of 2026

Shares were down nearly 15% in recent after-hours activity.