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Kalaris Therapeutics Climbs on Fresh TH103 Trial Results

Shares of Kalaris Therapeutics surged 17% to $5.39 Tuesday morning, extending a year-long rally that has seen the stock price more than double. The jump follows the release of expanded Phase 1a trial data for TH103, an experimental treatment targeting neovascular age-related macular degeneration that continues to show clinical promise.

Kalaris Therapeutics Climbs on Fresh TH103 Trial Results

The latest dataset, which now encompasses 17 treatment-naive patients and three treatment-experienced participants, reinforces earlier findings regarding improved vision and retinal anatomy. Crucially, the data suggests potential for extended durability following a standard four-dose loading regimen. The company reported that the six patients treated at the 2.5 mg dose level—administered using a refined manufacturing process designed to minimize impurities—showed no signs of intraocular inflammation.

Kalaris is currently transitioning focus toward its ongoing Phase 1b/2 study, which utilizes an ascending-dose design to evaluate the safety, tolerability, and pharmacokinetics of repeated intravitreal injections in treatment-naive patients. Management maintains its timeline for releasing initial data from this expanded study in the first half of 2027.

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