KalVista Pharmaceuticals Shares Rise 12%, Company Expects to Submit FDA Application Next Year
July 07 2023 - 12:51PM
Dow Jones News
By Ben Glickman
Shares of KalVista Pharmaceuticals rose on Friday after the
company said it expects to submit an application for its drug
candidate in the first half of next year.
The stock was up 12% to $10 a share. Shares are up 48% this
year.
The Cambridge, Mass.-based pharmaceutical company said it had
reached target enrollment for a Phase 3 trial of its drug
sebetralstat, an oral on-demand therapy for hereditary angioedema
attacks, which is a swelling of the skin. The company expects to
submit a New Drug Application to the U.S. Food and Drug
Administration in the first half of 2024, and has funding to last
into 2025.
On Friday, KalVista reported a loss of $26.3 million, or 77
cents a share, in the fourth quarter ending April 30, compared with
$24.1 million, or 98 cents a share, a year earlier. Analysts polled
by FactSet expected per share loss of 87 cents.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
July 07, 2023 12:36 ET (16:36 GMT)
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