KalVista Pharmaceuticals, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>KalVista Pharmaceuticals, Inc. filed its quarterly report (10-Q) for the period ending January 31, 2024, detailing financial performance and corporate history.</b>

AI Summary

KalVista Pharmaceuticals, Inc. (KALV) filed a Quarterly Report (10-Q) with the SEC on March 11, 2024. KalVista Pharmaceuticals, Inc. filed a 10-Q report for the period ending January 31, 2024. The company was formerly known as Carbylan Therapeutics, Inc. and Carbylan Biosurgery, Inc. The filing includes financial data for various periods, including Q3 2023. Key financial statement items such as Common Stock, Accumulated Other Comprehensive Income, and Retained Earnings are detailed. The company's fiscal year ends on April 30.

Why It Matters

For investors and stakeholders tracking KalVista Pharmaceuticals, Inc., this filing contains several important signals. This filing provides investors with the latest financial snapshot of KalVista Pharmaceuticals, Inc., crucial for understanding its current financial health and operational status. The historical company name changes indicate potential corporate restructuring or strategic shifts, which could be relevant for long-term investors assessing the company's evolution.

Risk Assessment

Risk Level: low — KalVista Pharmaceuticals, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate red flags, indicating a low level of immediate risk from the filing itself.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess KalVista's cash position, debt levels, and overall financial stability.

Key Numbers

• 2024-01-31 — Period End Date (10-Q filing)
• 2024-03-11 — Filing Date (10-Q filing)
• Q3 2023 — Quarterly Period (Financial reporting)
• 0430 — Fiscal Year End (Company reporting cycle)

Key Players & Entities

• KalVista Pharmaceuticals, Inc. (company) — Filer name
• Carbylan Therapeutics, Inc. (company) — Former company name
• Carbylan Biosurgery, Inc (company) — Former company name
• 2024-01-31 (date) — Period of report
• 2024-03-11 (date) — Filed as of date
• 0430 (date) — Fiscal year end

FAQ

Industry Context

KalVista Pharmaceuticals operates in the biotechnology sector, focusing on the development of novel therapeutics. This sector is characterized by high R&D costs, long development cycles, and significant regulatory oversight.

Regulatory Implications

As a pharmaceutical company, KalVista is subject to stringent regulations from bodies like the FDA regarding drug development, testing, and approval processes. Compliance is critical for market access and product viability.

What Investors Should Do

1. Analyze the balance sheet for cash and cash equivalents to understand the company's liquidity.
2. Examine any disclosed debt obligations and their terms.
3. Review the footnotes to the financial statements for any significant accounting policies or contingent liabilities.

Key Dates

• 2024-01-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-03-11: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during the quarter.)

Year-Over-Year Comparison

This is the first 10-Q filing analyzed for KalVista Pharmaceuticals, Inc. for the period ending January 31, 2024. No prior filing data is available for comparison within this analysis.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share KALV The Nasdaq

Filing Documents

• kalv-20240131.htm (10-Q) — 1285KB
• kalv-ex4_1.htm (EX-4.1) — 116KB
• kalv-ex31_1.htm (EX-31.1) — 15KB
• kalv-ex32_1.htm (EX-32.1) — 7KB
• 0000950170-24-029314.txt (&nbsp;) — 4665KB
• kalv-20240131.xsd (EX-101.SCH) — 596KB
• kalv-20240131_htm.xml (XML) — 674KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Changes in Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 7 Notes to the Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 22

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINANCI AL STATEMENTS

Item 1. FINANCI AL STATEMENTS KalVista Pharmaceuticals, Inc. Condensed Consolidated Ba lance Sheets (in thousands, except share and per share amounts) (Unaudited) January 31, April 30, 2024 2023 Assets Current assets: Cash and cash equivalents $ 23,056 $ 56,238 Marketable securities 52,530 93,137 Research and development tax credit receivable 23,011 16,568 Prepaid expenses and other current assets 5,506 6,383 Total current assets 104,103 172,326 Property and equipment, net 2,423 2,948 Right of use assets 7,045 7,822 Other assets 397 106 Total assets $ 113,968 $ 183,202 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 3,101 $ 4,817 Accrued expenses 14,840 9,128 Lease liability - current portion 1,187 1,087 Total current liabilities 19,128 15,032 Long-term liabilities: Lease liability - net of current portion 6,257 7,145 Total long-term liabilities 6,257 7,145 Commitments and contingencies (Note 6) Stockholders' equity Common stock, $ 0.001 par value, 100,000,000 authorized Shares issued and outstanding: 34,595,623 at January 31, 2024 and 34,171,138 at April 30, 2023 34 34 Additional paid-in capital 516,920 507,133 Accumulated deficit ( 425,077 ) ( 343,082 ) Accumulated other comprehensive loss ( 3,294 ) ( 3,060 ) Total stockholders' equity 88,583 161,025 Total liabilities and stockholders' equity $ 113,968 $ 183,202 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 KalVista Pharmaceuticals, Inc. Condensed Consolidated Statements of Opera tions and Comprehensive Loss (in thousands, except share and per share amounts) (Unaudited) Three Months Ended Nine Months Ended January 31, January 31, 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Operating expenses: Re

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View this 10-Q filing on SEC EDGAR