KalVista Pharmaceuticals Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants
15 February 2024 - 8:18AM
Business Wire
KalVista Pharmaceuticals, Inc. (Nasdaq: KALV) (“KalVista”)
announced today that it intends to offer and sell shares of its
common stock and pre-funded warrants to purchase shares of common
stock in lieu of KalVista common stock to certain investors in an
underwritten public offering. In addition, KalVista intends to
grant the underwriters a 30-day option to purchase an additional
15% of the securities offered in the public offering at the public
offering price less underwriting discounts and commissions. All of
the shares and pre-funded warrants will be offered and sold by
KalVista. The offering is subject to market and other conditions,
and there can be no assurance as to whether or when the offering
may be completed, or as to the actual size or terms of the
offering.
Jefferies, Leerink Partners, Stifel and Cantor are acting as the
joint book-running managers for the proposed offering.
KalVista intends to use the net proceeds from this proposed
offering to fund the continued clinical development of its product
candidate sebetralstat and activities related to its planned
commercialization following approval, as well as continued
preclinical activities for its oral Factor XIIa inhibitor program.
The remainder of the net proceeds, if any, will be used for general
corporate purposes.
The public offering will be made pursuant to a shelf
registration statement (File No. 333-256378) on Form S-3 that was
previously filed by KalVista with the Securities and Exchange
Commission (“SEC”) on May 21, 2021 and declared effective by the
SEC on June 1, 2021. A preliminary prospectus supplement relating
to and describing the terms of the offering will be filed with the
SEC and will be available on the SEC’s website at www.sec.gov. A
copy of the preliminary prospectus and accompanying prospectus
relating to the offering will be available, when filed, on the
SEC’s website at www.sec.gov. Copies of the preliminary prospectus
and the accompanying prospectus relating to the offering may be
obtained by contacting Jefferies LLC, Attention: Equity Syndicate
Prospectus Department, 520 Madison Avenue, New York, New York
10022, by telephone at 877-821-7388 or by email at
Prospectus_Department@Jefferies.com; Leerink Partners LLC,
Attention: Syndicate Department, 53 State Street, 40th Floor,
Boston, MA 02109, by telephone at 800-808-7525, ext. 6132, or by
email at syndicate@leerink.com; Stifel, Nicolaus & Company,
Incorporated, Attention: Syndicate, One Montgomery Street, Suite
3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by
email at syndprospectus@stifel.com; or Cantor Fitzgerald & Co.,
Attention: Capital Markets, 110 East 59th Street, 6th Floor, New
York, NY 10022, or by e-mail at prospectus@cantor.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities of KalVista, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About KalVista Pharmaceuticals, Inc.
KalVista Pharmaceuticals, Inc. is a pharmaceutical company
focused on the discovery, development, and commercialization of
oral, small molecule protease inhibitors for diseases with
significant unmet need. KalVista disclosed positive phase 3 data
for the KONFIDENT trial for its oral, on-demand therapy
sebetralstat in February 2024. KalVista anticipates submitting a
new drug application to the U.S. Food and Drug Administration for
sebetralstat in the first half of 2024 and expects to file for
approval in Europe and Japan later in 2024. In addition, KalVista’s
oral Factor XIIa inhibitor program represents a new generation of
therapies that may further improve the treatment for people living
with HAE and other diseases.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and other federal securities laws. Any statements contained
herein that do not describe historical facts, including, but not
limited to, statements regarding KalVista’s intention to conduct an
offering and sale of its securities, the grant of the option to
purchase additional shares, the size and ability to complete the
proposed offering, the expected use of proceeds and anticipated
preclinical and clinical development activities, the timing of
clinical trials and announcements of clinical results, and
potential benefits of KalVista’s product candidates, are
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
discussed in such forward-looking statements. Such risks and
uncertainties include, among others, the risks identified in
KalVista’s filings with the SEC, the prospectus related to the
offering, and subsequent filings with the SEC. Any of these risks
and uncertainties could materially and adversely affect KalVista’s
results of operations, which would, in turn, have a significant and
adverse impact on KalVista’s stock price. KalVista cautions you not
to place undue reliance on any forward-looking statements, which
speak only as of the date they are made. Further information on
potential risk factors that could affect KalVista’s business and
financial results are detailed in KalVista’s filings with the SEC,
including in KalVista’s annual report on Form 10-K for the year
ended April 30, 2023, quarterly reports on Form 10-Q, and other
reports made from time to time with the SEC. KalVista undertakes no
obligation to update publicly any forward-looking statements to
reflect new information, events or circumstances after the date
they were made or to reflect the occurrence of unanticipated
events.
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version on businesswire.com: https://www.businesswire.com/news/home/20240214925156/en/
KalVista Pharmaceuticals, Inc. Jarrod Aldom Vice
President, Corporate Communications (201) 705-0254
jarrod.aldom@kalvista.com
Ryan Baker Head, Investor Relations (617) 771-5001
ryan.baker@kalvista.com
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