Kiora Pharmaceuticals is focused on developing small molecule therapies targeting retinal diseases such as retinitis pigmentosa (RP) and retinal inflammatory conditions. The company’s lead candidate, KIO-301, has completed Phase 1b trials and is undergoing a Phase 2 study enrolling ultra-low vision patients, supported by a partnership with Théa Open Innovation. KIO-104 is entering Phase 2 for retinal inflammation indications. Despite promising clinical signals and regulatory progress, Kiora remains a pre-revenue company with substantial operating losses, reliant on external capital sources to fund ongoing R&D and clinical programs. Its cash runway extends into late 2027 absent unforeseen acceleration in spending.