KalVista Pharmaceuticals, Inc. SEC Filings

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 (KALV) furnished an update on its latest results. The company reported financial results for the quarter ended September 30, 2025 and provided a related press release as Exhibit 99.1 to this Form 8-K.

The information under Item 2.02, including Exhibit 99.1, is expressly stated as “furnished” and not “filed” under Section 18 of the Exchange Act, and is not incorporated by reference unless specifically noted in a future filing.

KalVista Pharmaceuticals insider grant: An officer, Chief Operations Officer Arif Bilal, was granted 100,000 stock options exercisable at $11.49 per share. The option award vests over a four-year schedule with 25% vesting on 10/08/2026 and the remainder vesting monthly thereafter; the options expire on 10/07/2035. Following this transaction the reporting person beneficially owns 100,000 underlying shares on a direct basis. The filing was reported on 10/08/2025.

Arif Bilal, listed as Chief Operations Officer and a director of KalVista Pharmaceuticals, Inc. (KALV), filed an initial Form 3 reporting that no securities are beneficially owned as of the event date 10/06/2025. The filing was signed by an attorney-in-fact on 10/08/2025. This Form 3 records a disclosure obligation under Section 16; instead of listing share ownership or derivative positions, it indicates the reporting person currently holds zero reportable equity or derivative interests.

KalVista Pharmaceuticals (KALV) disclosed an employment agreement for a newly named executive, Mr. Arif, detailing compensation and termination protections. The agreement sets a $520,000 base salary and an annual bonus target equal to 40% of base salary. Mr. Arif will receive stock options to purchase 100,000 shares that vest over four years with 1/4 vesting after one year and thereafter 1/48th monthly vesting, subject to continued service.

If terminated by the company without cause or by Mr. Arif for good reason, he is entitled to a lump-sum payment equal to 12 months of base salary and 12 months of COBRA reimbursement. Within two years after a defined change in control, similar termination triggers (company without cause or employee for good reason) add a lump-sum payment equal to 12 months of base salary, a lump-sum equal to his full target bonus for the fiscal year, 12 months of COBRA reimbursement, and full vesting of outstanding unvested equity awards (with performance awards deemed at target or actual if determinable).

The filing includes a Form of Indemnification Agreement reference and notes a press release dated October 6, 2025, signed by CFO Brian Piekos.

KalVista Pharmaceuticals, Inc. director Brian JG Pereira was granted a stock option on 10/01/2025 to buy 30,000 shares of common stock at a conversion price of $12.05. The option was reported on Form 4 filed on 10/02/2025 and is exercisable in installments over a 12-month vesting schedule beginning 11/01/2025, with 1/12th of the total shares vesting initially and then monthly thereafter, subject to continued service. The option expires on 09/30/2035. Following the grant, Mr. Pereira directly beneficially owns 30,000 option shares.

Stuart Nancy, a director of KalVista Pharmaceuticals, Inc. (KALV), was granted a stock option on 10/01/2025 to buy 30,000 shares of common stock at an exercise price of $12.05 per share. The option vests over a 12‑month period, with the first 1/12th vesting on November 1, 2025 and then monthly thereafter, subject to continued service. The option expires on 09/30/2035. After the reported transaction, the filing shows 30,000 shares beneficially owned following the grant, held directly. The Form 4 was signed by an attorney‑in‑fact, Benjamin L. Palleiko, on 10/02/2025.

KalVista Pharmaceuticals, Inc. (KALV) director William Fairey reported the vesting of a stock option award. On 10/01/2025 a grant coded as a vesting event (Code V) covered 30,000 stock options with an exercise price of $12.05. Following the reported transaction, the filing shows 30,000 shares beneficially owned directly. The option vests over a 12‑month period, beginning with 1/12th vesting on November 1, 2025 and then monthly thereafter, subject to continued service. The filing is signed by attorney‑in‑fact Benjamin L. Palleiko on 10/02/2025.

Edward W. Unkart, a director of KalVista Pharmaceuticals, Inc. (KALV), reported an acquisition of a stock option on 10/01/2025. The option grants the right to buy 30,000 shares of common stock at an exercise price of $12.05. The option vests over a 12‑month period beginning with a first vesting of 1/12th on November 1, 2025, then monthly thereafter, subject to continued service. The option becomes exercisable and expires on 09/30/2035, and the reporting person is shown as holding 30,000 shares beneficially following the transaction. The Form 4 was signed on behalf of the reporting person on 10/02/2025.