KalVista Pharmaceuticals, Inc.
- Open
- 27.00
- Day high
- 27.00
- Day low
- 27.00
- Prev close
- 27.00
- Volume
- 0
- Mkt cap
- $1.4B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -530.2
- P/S
- 6.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.1M over the last 3 months (0 open-market buys, 17 sales)
- 🏛Institutions accumulating (13F)
KalVista Pharmaceuticals, Inc. (KALV) is a Healthcare company listed on NASDAQ. The stock is up 108% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 17 sales (SEC Form 4).
KalVista Pharmaceuticals, Inc. (KALV) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KALV earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 15, 2026 | $-0.38 | $-0.92 | -144.5% | $14M | -64.9% |
| Mar 24, 2026 | $-0.54 | $-1.01 | -87.0% | $1M | -73.4% |
| Sep 11, 2025 | $-0.91 | $-1.12 | -23.1% | $1M | -88.7% |
| Mar 12, 2025 | $-0.89 | $-0.92 | -3.4% | — | — |
| Dec 5, 2024 | $-0.91 | $-0.91 | +0.0% | — | — |
| Sep 5, 2024 | $-0.91 | $-0.87 | +4.4% | — | — |
| Mar 11, 2024 | $-0.77 | $-0.84 | -9.1% | — | — |
| Dec 7, 2023 | $-0.79 | $-0.80 | -1.3% | — | — |
| Sep 7, 2023 | $-0.86 | $-0.74 | +14.0% | — | — |
| Mar 9, 2023 | $-0.97 | $-0.75 | +22.7% | — | — |
| Dec 8, 2022 | $-1.06 | $-0.90 | +15.1% | — | — |
| Sep 8, 2022 | $-1.04 | $-0.94 | +9.6% | — | — |
KALV insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | Yea Christopherofficer: CHIEF DEVELOPMENT OFFICER | Sell | 33,800 | $26.78 |
| May 29, 2026 | Yea Christopherofficer: CHIEF DEVELOPMENT OFFICER | Option | 33,800 | $7.07 |
| May 27, 2026 | Yea Christopherofficer: CHIEF DEVELOPMENT OFFICER | Option | 3,125 | — |
| May 27, 2026 | Sweeny Nicoleofficer: Chief Commercial Officer | Option | 5,000 | — |
| May 27, 2026 | Yea Christopherofficer: CHIEF DEVELOPMENT OFFICER | Sell | 1,966 | $26.78 |
| May 27, 2026 | Sweeny Nicoleofficer: Chief Commercial Officer | Sell | 1,489 | $26.78 |
| May 27, 2026 | Audhya Paul K.officer: CHIEF MEDICAL OFFICER | Option | 5,000 | — |
| May 27, 2026 | Audhya Paul K.officer: CHIEF MEDICAL OFFICER | Sell | 2,239 | $26.78 |
| May 26, 2026 | Piekos Brianofficer: Chief Financial Officer | Sell | 1,489 | $26.78 |
| May 26, 2026 | Audhya Paul K.officer: CHIEF MEDICAL OFFICER | Sell | 2,685 | $26.78 |
| May 26, 2026 | Audhya Paul K.officer: CHIEF MEDICAL OFFICER | Option | 6,250 | — |
| May 26, 2026 | Yea Christopherofficer: CHIEF DEVELOPMENT OFFICER | Sell | 2,358 | $26.78 |
| May 26, 2026 | Palleiko Benjamin Ldirector, officer: CHIEF EXECUTIVE OFFICER | Option | 23,250 | — |
| May 26, 2026 | Palleiko Benjamin Ldirector, officer: CHIEF EXECUTIVE OFFICER | Sell | 10,926 | $26.78 |
| May 26, 2026 | Yea Christopherofficer: CHIEF DEVELOPMENT OFFICER | Option | 3,750 | — |
Source: KALV SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full KALV insider & 13F page →KalVista Pharmaceuticals, Inc. company profile
Overview
KalVista Pharmaceuticals, Inc. (NASDAQ:KALV) is a clinical-stage biopharmaceutical company founded in 2009 and headquartered in Cambridge, Massachusetts. The company went public in April 2015 and focuses on discovering, developing, and commercializing small molecule protease inhibitors for rare diseases with significant unmet medical needs. KalVista specializes in targeting the kallikrein-kinin system, a biological pathway involved in inflammation and vascular permeability, with particular emphasis on developing treatments for hereditary angioedema and diabetic macular edema.
Business
KalVista operates in the biotechnology sector, specifically focusing on developing small molecule protease inhibitors that target enzymes involved in disease processes. The company's primary therapeutic focus centers on the kallikrein-kinin system, a complex biological pathway that regulates blood pressure, inflammation, and blood vessel permeability. When this system becomes dysregulated, it can lead to serious medical conditions. The company's lead therapeutic areas include hereditary angioedema (HAE), a rare genetic disorder that causes episodes of severe swelling in various parts of the body including the face, throat, and extremities, and diabetic macular edema (DME), a complication of diabetes that causes fluid accumulation in the retina leading to vision problems. KalVista's product pipeline consists of several key candidates. Sebetralstat is their most advanced program, an oral plasma kallikrein inhibitor currently in Phase 3 clinical trials (KONFIDENT trial) as an on-demand treatment for HAE attacks. KVD001 is a plasma kallikrein inhibitor that completed Phase II trials for treating DME. KVD824 represents another oral candidate for HAE treatment, while their Factor XIIa inhibitor program remains in preclinical development, targeting an upstream enzyme in the same pathway that leads to HAE symptoms. As a clinical-stage company, KalVista currently generates minimal revenue and operates primarily as a research and development organization focused on advancing these therapeutic candidates through clinical trials toward potential regulatory approval and commercialization.
Competitive moat
KalVista's competitive moat appears moderate but fragile given the nature of biotech competition and their current development stage. The company's primary defensive position stems from their specialized expertise in kallikrein-kinin pathway inhibition and their specific small molecule approach to targeting plasma kallikrein. This scientific focus has allowed them to build a portfolio of related compounds targeting the same biological pathway from different angles. However, the moat faces significant challenges. The hereditary angioedema market already has established competitors including approved treatments from major pharmaceutical companies, which means KalVista will need to demonstrate superior efficacy, safety, or convenience to gain market share. Their oral delivery approach for sebetralstat could provide a competitive advantage over injectable alternatives, but this remains unproven until Phase 3 results are available. The company's intellectual property portfolio provides some protection, but biotech patents can be challenged and have finite terms. Additionally, the scientific understanding of the kallikrein-kinin system is advancing rapidly, meaning larger pharmaceutical companies with greater resources could develop competing approaches. The regulatory approval risk represents a fundamental threat to any moat, as clinical trial failures could eliminate the competitive position entirely. Once approved, the small patient populations in rare diseases could support pricing power, but also make the market attractive to well-funded competitors seeking to enter with potentially superior products.
Risks & safety
KalVista presents a moderate margin of safety from a balance sheet perspective but carries substantial execution risk typical of clinical-stage biotechnology companies. • Cash position: $167.3 million in cash and short-term investments as of Q3 2025, providing reasonable runway for operations • Burn rate: Quarterly cash burn of approximately $33-40 million based on recent operating cash flows, suggesting roughly 4-5 quarters of funding at current spending levels • Debt levels: Very low debt-to-equity ratio of 0.04, indicating minimal financial leverage risk • Liquidity: Strong current ratio of 10.4 and quick ratio of 10.4, demonstrating excellent short-term liquidity • Solvency risk: Low near-term bankruptcy risk given strong balance sheet, but will need additional financing within 12-18 months • Valuation metrics: Trading at 3.2x book value and negative earnings multiples due to losses, making traditional valuation difficult • Enterprise value: Negative EV/EBITDA ratios due to losses, indicating speculative valuation territory • Other considerations: Primary risk stems from clinical trial outcomes rather than financial distress; strong balance sheet provides buffer for potential setbacks but cannot eliminate binary nature of drug development risk.
Recent development
Based on the available financial data, KalVista has been advancing its clinical pipeline with sebetralstat as the primary focus, having initiated the Phase 3 KONFIDENT trial for hereditary angioedema treatment. This represents a significant milestone as the company transitions from Phase 2 to late-stage development, bringing them closer to potential regulatory approval and commercialization. The company has maintained a disciplined approach to cash management while funding multiple development programs. Their cash position improved significantly from $31.8 million in Q1 2025 to $167.3 million in Q3 2025, indicating successful fundraising activities that will support continued clinical operations. This capital infusion provides the financial foundation needed to complete the Phase 3 trial and advance other pipeline candidates. KalVista has continued developing their oral delivery platform for kallikrein inhibitors, which could provide a competitive advantage in the HAE market where many existing treatments require injection. The company's focus on building a portfolio of related compounds targeting different aspects of the kallikrein-kinin pathway demonstrates a strategic approach to maximizing their scientific expertise across multiple therapeutic applications. The progression of KVD824 as another oral HAE candidate and the advancement of their Factor XIIa inhibitor program through preclinical development shows the company's commitment to building a comprehensive pipeline rather than relying solely on sebetralstat's success.
KALV company profile · for informational purposes only — not investment advice.
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