Thu, Sep 5, 8:14 PM (131 days ago)
KalVista Pharmaceuticals, Inc. reported no revenue for the quarter ended July 31, 2024, consistent with the previous year. The company incurred a net loss of $40.4 million, up from $25.3 million in Q3 2023, driven by increased research and development (R&D) expenses of $26.6 million, primarily due to the sebetralstat program. General and administrative expenses also rose significantly to $17.6 million. Cash and cash equivalents slightly increased to $31.8 million, while marketable securities decreased to $142.4 million. The company maintains an accumulated deficit of $510.2 million and anticipates continued losses as it advances its clinical trials. Cash flows from operating activities were negative, totaling $40.2 million, but were offset by $37.2 million from investing activities, primarily due to marketable securities transactions. KalVista expects to have sufficient funding for at least the next twelve months, largely supported by a recent $150.1 million equity offering. The firm is focused on obtaining FDA approval for sebetralstat, with a PDUFA date set for June 2025. Future operations may be impacted by regulatory approvals and ongoing clinical trials.