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Jan 31, 2023
KalVista Q3 2023 Earnings Report
KalVista reported third fiscal quarter results with enrollment in sebetralstat KONFIDENT phase 3 trial passing 50% milestone and funding secured into 2025.
Key Takeaways
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.
Forward Guidance
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.
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