KalVista Pharmaceuticals(KALV) - 2025 Q4 - Annual Results

Operational Update and Business Highlights KalVista achieved FDA approval for EKTERLY® (sebetralstat) for HAE, initiating U.S. launch and global expansion efforts - Received FDA approval for EKTERLY® (sebetralstat), the first and only oral on-demand treatment for hereditary angioedema (HAE) in patients 12 years and older[1][3] - Entered into exclusive licensing agreements to commercialize sebetralstat in Japan with Kaken Pharmaceutical and in Canada with Pendopharm[1][6] - Six additional global regulatory submissions for EKTERLY® are currently under review[1] - Presented new positive clinical data at EAACI, C1-INH, and EAC conferences, highlighting EKTERLY's rapid relief, efficacy with long-term prophylaxis (LTP), and utility in treating severe attacks[3][6] Fiscal Year 2025 Financial Results KalVista's FY2025 net loss rose to $183.4M due to increased G&A, offset by strong $220.6M cash - Cash, cash equivalents, and marketable securities were $220.6 million as of April 30, 2025, which is expected to provide a financial runway into 2027[1][6] Expense Category Analysis | Expense Category | FY 2025 | FY 2024 | Change Driver | | :--- | :--- | :--- | :--- | | Research & Development | $71.7M | $86.2M | Decrease due to reduced clinical trial and preclinical expenses | | General & Administrative | $116.3M | $54.3M | Increase primarily due to pre-commercial planning for EKTERLY | Consolidated Statements of Operations Consolidated Statements of Operations Summary | Metric | FY 2025 (in thousands) | FY 2024 (in thousands) | | :--- | :--- | :--- | | Total operating expenses | $187,995 | $140,445 | | Operating loss | $(187,995) | $(140,445) | | Net loss | $(183,444) | $(126,644) | | Net loss per share | $(3.69) | $(3.44) | Consolidated Balance Sheets Consolidated Balance Sheets Summary | Metric | April 30, 2025 (in thousands) | April 30, 2024 (in thousands) | | :--- | :--- | :--- | | Cash, cash equivalents & Marketable securities | $220,617 | $210,401 | | Total Assets | $250,770 | $235,404 | | Total Liabilities | $155,379 | $28,822 | | Stockholders' Equity | $95,391 | $206,582 |