Every 10-Q that KalVista Pharmaceuticals, Inc. (KALV) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow KALV and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full KALV filings page.
KalVista Pharmaceuticals reported its first meaningful commercial quarter as EKTERLY sales drove total revenue of $40.9M for the three months ended March 31, 2026, up from zero a year earlier. Product revenue reached $39.2M, largely from U.S., Germany and Japan launches, while partnership revenue contributed $1.7M.
Operating expenses rose to $64.3M, mainly from higher commercial and administrative spending, but the net loss narrowed to $23.5M (basic and diluted loss per share $0.43) from $51.8M in the prior-year quarter. KalVista ended the period with cash, cash equivalents and marketable securities totaling $285.0M, which management believes is sufficient to fund operations for at least twelve months.
Separately, KalVista agreed to be acquired by Chiesi through a tender offer at $27.00 per share in cash, followed by a merger that would take the company private, subject to a majority tender, regulatory clearances and other customary conditions. If the merger is not completed under certain circumstances, KalVista could owe Chiesi a $66.4M termination fee.
KalVista Pharmaceuticals (KALV) reported its first commercial quarter following EKTERLY (sebetralstat) approvals, recording product revenue, net of $13.7 million for the three months ended September 30, 2025. Operating expenses rose with the launch, led by S,G&A of $46.5 million and R&D of $12.0 million, driving an operating loss of $46.1 million and a net loss of $49.5 million (basic and diluted loss per share of $0.92).
Liquidity strengthened: cash and cash equivalents were $243.5 million and marketable securities were $65.7 million. The company issued $143.8 million aggregate principal of convertible notes (balance sheet carrying amount $139.0 million) and reported a royalty obligation with a $125.0 million net carrying amount tied to its DRI agreement. Deferred revenue was $11.5 million from the Kaken upfront. EKTERLY received U.S., UK, EU, Switzerland and Australia approvals in 2025, with commercial sales initiated in the U.S. and Germany.
KalVista Pharmaceuticals, Inc. (KALV) reported mixed operational and clinical disclosures in this 10-Q excerpt. The company had a 100.0 million share registration ("ATM Shares") available under an S-3 prospectus supplement but did not offer or sell any ATM Shares during the three months ended July 31, 2025. Trade accounts receivable arise from product sales to specialty distributors and pharmacies; as of April 30, 2025 the company reported $0 of accounts receivable, net related to product sales and no reserve for credit losses. The filing describes fair value sensitivity for a derivative liability and discloses a $132.3 million royalty obligation as of July 31, 2025, with an embedded derivative carrying a fair value of $9.4 million. A licensing arrangement (Kaken Agreement) included an $11.0 million non-refundable upfront payment, potential regulatory and sales milestones of approximately $13.0 million, and effective royalties in the mid-twenties percent on Japanese pricing, for a 10-year initial term. The company also details commercial terms tied to annual net sales thresholds and a $50.0 million sales-based milestone if sebetralstat achieves at least $550.0 million in annual net sales before 2031. Clinically, EKTERLY (sebetralstat) is described as an oral, on-demand HAE therapy; 600 mg dosing showed statistically significant faster reduction in attack severity (p=0.0032) and faster complete attack resolution (p<0.0001) versus placebo.