UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-36830 KalVista Pharmaceuticals, Inc. (Exact name of Registrant as specified in its Charter) Delaware 20-0915291 (State or other jurisdic ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended January 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to . Commission File No. 001-36830 KALVISTA PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) WASHINGTON, DC 20549 (State or other jurisdiction of inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended October 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to . Commission File No. 001-36830 KALVISTA PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended July 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to . Commission File No. 001-36830 KALVISTA PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...

| --- | --- | --- | --- | |-------|-------------------------------|-------|-------| | | | | | | | | | | | | BTIG Biotechnology Conference | | | | | August 10, 2020 | | | | | | | | | | | | | Forward-Looking Statements This presentation and the accompanying oral presentation contain "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "pl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-36830 KalVista Pharmaceuticals, Inc. (Exact name of Registrant as specified in its Charter) Delaware 20-0915291 (State or other jurisdic ...

K Vall liato | --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | Forward-Looking Statements This presentation and the accompanying oral presentation contain "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future, "likely," " ...

For the quarterly period ended January 31, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the transition period from to . Commission File No. 001-36830 KALVISTA PHARMACEUTICALS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inc ...

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%2E%20FINANCIAL%20INFORMATION) This section presents the company's financial statements, management's discussion and analysis, market risk disclosures, and internal controls [Financial Statements](index=4&type=section&id=Item%201%2E%20Financial%20Statements) KalVista reported a net loss of $13.2 million for the six months ended October 31, 2019, with total assets of $112.1 million and decreased revenue [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $112.1 million as of October 31, 2019, primarily due to reduced cash, while liabilities decreased and equity slightly increased Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Oct 31, 2019 (Unaudited) | Apr 30, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $21,719 | $32,006 | | Marketable securities | $71,742 | $68,805 | | **Total Assets** | **$112,064** | **$118,132** | | Total current liabilities | $10,470 | $18,052 | | Total long-term liabilities | $3,807 | $3,342 | | **Total Liabilities** | **$14,277** | **$21,394** | | **Total Stockholders' Equity** | **$97,787** | **$96,738** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Revenue decreased and operating expenses increased for the three and six months ended October 31, 2019, leading to a widened net loss Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended Oct 31, 2019 | Three Months Ended Oct 31, 2018 | Six Months Ended Oct 31, 2019 | Six Months Ended Oct 31, 2018 | | :--- | :--- | :--- | :--- | :--- | | Revenue | $3,920 | $5,592 | $7,289 | $9,311 | | Research and development | $9,789 | $7,876 | $19,476 | $16,232 | | General and administrative | $3,420 | $2,609 | $6,665 | $4,979 | | **Operating loss** | **($9,289)** | **($4,893)** | **($18,852)** | **($11,900)** | | **Net loss** | **($5,903)** | **($3,304)** | **($13,241)** | **($8,334)** | | Net loss per share | ($0.33) | ($0.22) | ($0.75) | ($0.64) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to $97.8 million, driven by common stock issuance offsetting the net loss for the six months ended October 31, 2019 - Stockholders' equity increased to **$97.8 million** at October 31, 2019, up from **$96.7 million** at May 1, 2019[14](index=14&type=chunk) - Key changes in equity for the six months ended October 31, 2019 include a net loss of **$13.2 million** and net proceeds of **$11.4 million** from the issuance of common stock[14](index=14&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was $19.1 million, partially offset by financing activities, resulting in a $10.3 million decrease in cash and equivalents Summary of Cash Flows (in thousands) | Activity | Six Months Ended Oct 31, 2019 | Six Months Ended Oct 31, 2018 | | :--- | :--- | :--- | | Net cash used in operating activities | ($19,089) | ($14,998) | | Net cash used in investing activities | ($3,044) | ($786) | | Net cash from financing activities | $11,538 | $87,732 | | **Net (decrease) increase in cash** | **($10,287)** | **$70,061** | | **Cash and cash equivalents at end of period** | **$21,719** | **$121,116** | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's drug development focus, funding sources, adoption of ASC 842, and revenue recognition from the Merck Option Agreement - The company is a clinical-stage pharmaceutical company focused on small molecule protease inhibitors for Hereditary Angioedema (HAE) and Diabetic Macular Edema (DME)[19](index=19&type=chunk) - Key drug candidates include KVD900 (on-demand HAE therapy, Phase 2), KVD001 (DME, Phase 2 data expected Q4 2019), and KVD824 (oral HAE prophylaxis or DME therapy)[20](index=20&type=chunk)[21](index=21&type=chunk) - The company adopted new lease standard ASC 842 on May 1, 2019, resulting in the recognition of a **$1.9 million** right-of-use asset and a **$1.9 million** lease liability[36](index=36&type=chunk)[37](index=37&type=chunk) - Under the Merck Option Agreement, the company recognized **$7.3 million** in revenue for the six months ended October 31, 2019, with **$5.4 million** remaining in deferred revenue as of that date[61](index=61&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=15&type=section&id=Item%202%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses decreased revenue and increased R&D expenses, affirming sufficient liquidity for at least the next twelve months [Results of Operations](index=17&type=section&id=Results%20of%20Operations) For the six months ended October 31, 2019, revenue decreased by $2.0 million, while R&D expenses increased by $3.2 million and G&A expenses rose by $1.7 million Comparison of Results for Six Months Ended October 31 (in thousands) | Metric | 2019 | 2018 | Change | | :--- | :--- | :--- | :--- | | Revenue | $7,289 | $9,311 | $(2,022) | | Research and development expenses | $19,476 | $16,232 | $3,244 | | General and administrative expenses | $6,665 | $4,979 | $1,686 | R&D Expenses by Program for Six Months Ended October 31 (in thousands) | Program | 2019 | 2018 | | :--- | :--- | :--- | | KVD001 | $3,268 | $5,831 | | KVD900 | $4,448 | $1,698 | | KVD824 | $2,324 | $2,643 | | Preclinical activities | $9,436 | $6,060 | | **Total** | **$19,476** | **$16,232** | - The decrease in revenue is attributed to the near completion of the Phase 2 clinical trial for KVD001, which is part of the Merck Option Agreement[84](index=84&type=chunk) - The increase in R&D expenses was primarily due to advancing the KVD900 Phase 2 trial and other non-clinical expenses for later-stage development[87](index=87&type=chunk) [Liquidity and Capital Resources](index=19&type=section&id=Liquidity%20and%20Capital%20Resources) The company funds operations through stock issuance and the Merck agreement, with current capital sufficient for twelve months, and may seek future funding through various means - The company anticipates its current working capital will fund operations for at least the next twelve months from the report's issue date[92](index=92&type=chunk) - Net cash used in operating activities increased to **$19.1 million** for the six months ended Oct 31, 2019, from **$15.0 million** in the prior-year period[93](index=93&type=chunk)[94](index=94&type=chunk) - Net cash from financing activities was **$11.5 million** for the six months ended Oct 31, 2019, primarily from the sale of common stock, compared to **$87.7 million** in the prior year period which included proceeds from a private placement and public offering[96](index=96&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=21&type=section&id=Item%203%2E%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces interest rate and foreign exchange risks, with significant GBP cash holdings, but does not currently engage in hedging - The company's primary market risks are interest rate and foreign exchange rate fluctuations[104](index=104&type=chunk)[105](index=105&type=chunk) - As of October 31, 2019, **68%** of cash and cash equivalents were held in British Pound Sterling (GBP), exposing the company to foreign exchange risk as it incurs significant expenses in GBP[105](index=105&type=chunk) [Controls and Procedures](index=21&type=section&id=Item%204%2E%20Controls%20and%20Procedures) Management concluded that disclosure controls were effective as of October 31, 2019, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of October 31, 2019[106](index=106&type=chunk) - No changes occurred during the quarter ended October 31, 2019, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[107](index=107&type=chunk) [PART II. OTHER INFORMATION](index=22&type=section&id=PART%20II%2E%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, and a list of exhibits filed with the report [Legal Proceedings](index=22&type=section&id=Item%201%2E%20Legal%20Proceedings) The company reports no material legal proceedings or claims expected to adversely affect its business or financial condition - The company reports no material legal proceedings[110](index=110&type=chunk) [Risk Factors](index=22&type=section&id=Item%201A%2E%20Risk%20Factors) No material changes to the risk factors previously disclosed in the Annual Report on Form 10-K have been reported - No material changes to risk factors from the Annual Report on Form 10-K for the fiscal year ended April 30, 2019, have been reported[111](index=111&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=22&type=section&id=Item%202%2E%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section is not applicable for the current reporting period - Not applicable[112](index=112&type=chunk) [Exhibits](index=23&type=section&id=Item%206%2E%20Exhibits) The report includes various exhibits, such as CEO and CFO certifications and XBRL data files - Exhibits filed include CEO and CFO certifications under Rule 13a-14(a) and 13a-14(b), and various XBRL documents[117](index=117&type=chunk)[119](index=119&type=chunk)

KalVista Pharmaceuticals Corporate Presentation October 2019 Forward-Looking Statements This presentation and the accompanying oral presentation contain "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future, "likely," "may," "should," "will" and simil ...