Wedbush Securities analyst Liana Moussatos called top-line results from two trials by Kala Pharmaceuticals Inc. "the best phase III dry eye data that I've seen," though not everyone seemed as enthusiastic about the outcomes with KPI-121 0.25 percent vs. placebo, a therapy that uses Kala's mucus-penetrating particle (MPP) technology to enhance delivery of loteprednol etabonate into target tissue of the eye.