KalVista Pharmaceuticals Inc. (NASDAQ: KALV) Q4 Financial Results

# KalVista Pharmaceuticals Inc. (NASDAQ: KALV) Q4 Operational Update and Fiscal Year 2025 Financial Results

KalVista Pharmaceuticals Inc. released its operational update and financial results for the fiscal year ended April 30, 2025, on July 10, 2025.

## Summary:
– **FDA Approval for EKTERLY (sebetralstat)**
– The FDA approved EKTERLY as the first oral on-demand treatment for hereditary angioedema (HAE).
– The U.S. launch of EKTERLY is currently underway.
– Six additional global regulatory submissions are under review.

– **Global Expansion**
– KalVista secured licensing agreements for sebetralstat commercialization in Japan and Canada.
– In Japan, KalVista partnered with Kaken Pharmaceutical, receiving an upfront payment of $11 million, with potential additional payments based on milestones and royalties.
– In Canada, Pendopharm was granted exclusive rights for regulatory approval and commercialization of sebetralstat.

– **Financial Results**
– **Research and Development Expenses**:
– Decreased to $71.7 million for the fiscal year 2025 from $86.2 million in 2024.

– **General and Administrative Expenses**:
– Increased to $116.3 million for the fiscal year 2025 from $54.3 million in 2024, primarily due to pre-commercial planning expenses related to EKTERLY.

– **Cash, Cash Equivalents, and Marketable Securities**:
– Stood at $220.6 million as of April 30, 2025, compared to $210.4 million in the previous year, providing runway into 2027.

– **Operational Highlights**
– EKTERLY demonstrated efficacy in treating HAE attacks with rapid relief and end of attack progression.
– Data presentations at medical congresses highlighted the benefits of EKTERLY in treating various types of HAE attacks efficiently and effectively.

– **Forward-looking Statements**
– KalVista outlined forward-looking information regarding the commercialization of EKTERLY and expectations around regulatory approvals and product efficacy.
– Risks and uncertainties that could impact the company’s results were also disclosed.

– **Organizational Updates**
– KalVista’s agreements with Kaken Pharmaceutical and Pendopharm aim to expand the commercialization of sebetralstat in Japan and Canada, respectively.

## Dividend and Share Repurchase:
– The provided text does not mention any quarterly dividend declaration or share repurchase by KalVista Pharmaceuticals Inc.

## Metrics in Percentages:
– **Change in Research and Development Expenses**:
– Research and development expenses decreased by **16.9%** from the fiscal year 2024 to 2025.

– **Change in General and Administrative Expenses**:
– General and administrative expenses increased by **113.6%** from the fiscal year 2024 to 2025.

– **Growth in Cash, Cash Equivalents, and Marketable Securities**:
– Cash, cash equivalents, and marketable securities grew by approximately **5%** from April 30, 2024, to April 30, 2025.

KalVista Pharmaceuticals Inc. provided a comprehensive update on its achievements, financial performance, and future outlook, emphasizing the approval and commercialization of EKTERLY for HAE treatment. The company’s focus on expanding globally through strategic partnerships, coupled with its strong financial position, positions it well for continued growth and innovation in the rare disease space.

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