KalVista Pharma falls after $125 mln convertible debt sale

Kalvista Pharmaceuticals

25/09/2025 12:54

** Shares of KalVista Pharmaceuticals KALV.O down 2.6% premarket to $12.60 after it secured capital raise

    ** Framingham, Massachusetts-based firm late Weds announced pricing
    private offering of $125 mln 6-yr convertible bonds

    ** Offering size boosted from $110 mln; initial conversion price of $16.81 is 30% premium to stock's last sale of $12.93 on Weds

** Co says intends to use net offering proceeds for working capital and other purposes, including commercialization of its drug, Ekterly

** It also may use a portion of proceeds for future investments and acquisitions, and products or technologies

** Last Fri, KALV said European Commission and Swiss regulator, Swissmedic, approved Ekterly, the first on-demand oral treatment for hereditary angioedema (HAE)

** HAE is a genetic disorder characterized by recurrent episodes of swelling in various parts of the body, including the limbs, face, intestinal tract, and airway caused by deficiency in a protein known as C1 inhibitor

** Through Weds, KALV shares up 53% YTD, giving them ~$653 mln market cap

    ** All 10 analysts covering KALV are bullish and median PT is $30, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))