KalVista Pharma rebounds as stock offering prices at a premium

Kalvista Pharmaceuticals

15/02/2024 13:13

** Shares of KalVista Pharmaceuticals  KALV.O  jump 14.5% to
$16.49 premarket as co raises equity at a premium
    ** Co announces ~10.5 mln shares, including ~3.5 mln
pre-funded warrants, priced at $15.25 for $160 mln gross raise
    ** KALV closed down 3% at $14.40 on Weds, after losing ~7%
on Tues
    ** Co early Tues said its genetic disorder disease drug
sebetralstat, being developed to treat hereditary angioedema,
met main goal in late-stage study
    ** KalVista to use net offering proceeds to fund clinical
development of sebetralstat and activities related to its
planned commercialization following approval
    ** Co has ~34.5 mln shares outstanding for nearly $500 mln
market cap, per LSEG
    ** Through Weds close, KALV up 17.6% YTD and has gained ~82%
over the past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))