KalVista Pharma Posts Wider Loss In Q1

(RTTNews) - KalVista Pharmaceuticals, Inc. (KALV) posted a first quarter net loss of $25.3 million, or $0.74 per share, compared to a net loss of $23.0 million, or $0.94 per share, prior year. The company said the increase in net loss primarily resulted from the increase in operating expenses, primarily research and development. On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.86, for the quarter. Analysts' estimates typically exclude special items.

The company stated that no revenue was recognized for the three months ended July 31, 2023 or July 31, 2022. Cash, cash equivalents and marketable securities were $123.3 million as of July 31, 2023.

Andrew Crockett, CEO of KalVista, said: "We continue to build our Commercial operation with the addition of Nicole Sweeny as Chief Commercial Officer and other key members of the team to support an NDA submission in the first half of 2024 and a rapid launch upon FDA approval."

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