KalVista Pharmaceuticals announced its third fiscal quarter results, highlighting significant progress in its sebetralstat development program, including the KONFIDENT phase 3 trial and new funding that extends operations into 2025. The company reported a net loss of $21.3 million, but also announced $58 million in new funding.
Sebetralstat KONFIDENT phase 3 trial enrollment passed the 50% milestone, with data expected in H2 2023.
Sebetralstat phase 2 data was published in The Lancet.
The company secured funding into 2025 through a registered direct offering.
New data on sebetralstat was presented at the 2023 American Academy of Allergy, Asthma & Immunology (AAAAI) Annual Meeting.
KalVista intends to use the proceeds of the $58 million offering to fund clinical trials, commercial sales development, research, working capital, capital expenditures and other general corporate purposes. The company expects to be able to fund operations into 2025.
Analyze how earnings announcements historically affect stock price performance