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KalVista Pharmaceuticals Inc. (KALV) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements indicating a net loss of $42.3 million for the three months ended October 31, 2024, compared to a net loss of $27.7 million in the same period the previous year.
Operating expenses for the quarter totaled $45.8 million, with research and development expenses at $16.6 million and general and administrative expenses at $29.2 million.
KalVista reported total assets of $160.8 million as of October 31, 2024, with cash, cash equivalents, and marketable securities amounting to $135.8 million.
The company has not generated any product sales revenue and continues to focus on the development of sebetralstat, an oral therapy for hereditary angioedema (HAE).
KalVista's New Drug Application (NDA) for sebetralstat has been accepted by the FDA, with a Prescription Drug User Fee Act (PDUFA) date set for June 17, 2025.
The company also filed a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) and is pursuing regulatory approvals in other regions.
KalVista entered into a royalty financing agreement with DRI Healthcare Acquisitions LP, receiving $100 million in exchange for tiered royalty payments on future net sales of sebetralstat.
The company completed an offering of 5.5 million shares of common stock, raising approximately $51.3 million after expenses.
KalVista anticipates continued losses as it advances its clinical development programs and prepares for potential commercialization of sebetralstat.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the KalVista Pharmaceuticals Inc. quarterly 10-Q report dated December 5, 2024. To report an error, please email earnings@qz.com.