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Oct 31, 2020
KalVista Q2 2021 Earnings Report
Reported second fiscal quarter results and provided an operational update.
Key Takeaways
KalVista Pharmaceuticals reported no revenue for the quarter ended October 31, 2020, compared to $3.9 million for the same period in the prior fiscal year. Net loss was $10.4 million, or $(0.58) per share, compared to a net loss of $5.9 million, or $(0.33) per share, for the same period in the prior fiscal year. Cash, cash equivalents and marketable securities were $55.9 million as of October 31, 2020, compared to $67.7 million as of April 30, 2020.
Completed patient treatment in KVD900 Phase 2 trial, with data expected in Q1 2021.
Shared formulation data for KVD824, showing potential for competitive efficacy.
Expect to submit an Investigational New Drug Application to the FDA for a Phase 2 clinical trial of KVD824 in Q1 2021.
Announced a novel oral Factor XIIa inhibitor program as the next area of development focus.
KalVista
KalVista
Forward Guidance
KalVista Pharmaceuticals is focused on advancing its pipeline of small molecule protease inhibitors, with key milestones expected in the near term.
Positive Outlook
- KVD900 Phase 2 trial data expected in Q1 2021.
- KVD824 formulation shows potential for competitive efficacy.
- IND submission for KVD824 Phase 2 clinical trial expected in Q1 2021.
- Novel oral Factor XIIa inhibitor program represents a new generation of HAE therapeutics.
- Cash position of $55.9 million provides runway for continued development.
Challenges Ahead
- No revenue was recognized for the three months ended October 31, 2020.
- Net loss increased compared to the same period in the prior fiscal year.
- Decrease in cash position due to increased spending on research and development activities.
- Clinical trials are subject to risks and uncertainties.
- Regulatory approvals are not guaranteed.