shares of kala pharmaceuticals inc kala have rocketed higher in for threestraight sessions toward a morethan 8fold gain since the biopharmaceutical company announced positive news regarding its treatment of persistent corneal epithelial defect pced the stock exploded up 2184 on wednesday after the food and drug administration accepted the investigational new drug ind application for the pced treatment kpi012 then rose 990 on thursday on friday the stock shot up 344 in midday trading for a threeday gain of 7518 putting them on track to close at a 7month high the latest exchange data showed that short interest in the stock which closed at a record low of 367 on dec 22 has climbed to sevenmonth high of 101087 shares as of dec 15 or 786 of the public float kala’s stock is still down 448 year to date while the ishares biotechnology etf ibb has slumped 149 and the sp 500 spx has shed 198