Hot Stock Alert: KalVista Pharmaceuticals, Inc. (NASDAQ: KALV)

On Wednesday, Shares of KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) showed the bearish trend with a lower momentum of -0.60% and ended its trading session at $19.79. The company traded total volume of 48,282 shares as contrast to its average volume of 102.53K shares. The company has a market value of $341.97M and about 17.28M shares outstanding.

KalVista Pharmaceuticals, Inc. (KALV) recently offered an operational update and released financial results for the fiscal first quarter ended July 31, 2018.

First Quarter and Recent Business Highlights:

  • Increased $78.20M in gross proceeds from a formerly declared public offering of 4.60M shares of common stock at a price of $17.00 per share. The Company anticipates receiving about $73.30M in net proceeds from the offering after deducting underwriting fees and expenses, which is anticipated to fund operations into 2021.
  • In July 2018, declared the sale of about $14.60M in common stock to Venrock Healthcare Capital Partners and BVF Partners L.P. in a registered direct transaction. This transaction was closed in August.

Fiscal First Quarter Financial Results:

  • Revenue: Revenue was $3.70M for the three months ended July 31, 2018, contrast to $0.10M for the same period in 2017. Revenue in the three months ended July 31, 2018 consisted of the recognition of a portion of the upfront payment from Merck related to the agreement signed in October 2017.
  • R&D Expenses: Research and development expenses were $8.40M for the three months ended July 31, 2018, contrast to $3.50M for the same period in 2017. The increase in R&D expense mainly reflects the ongoing clinical trials for KVD001 and KVD900.
  • G&A Expenses: General and administrative expenses were $2.40M for the three months ended July 31, 2018, contrast to $2.10M for the same period in 2017. The increase was mainly because of a boost in payroll related expenses and expenses related to our new facility in the U.K. in the three months ended July 31, 2018 contrast to those incurred in the same period in 2017.
  • Net Loss: Net loss was $5.00M, or $(0.47) per basic and diluted share for the three months ended July 31, 2018, contrast to a net loss of $4.90M, or $(0.51) per basic and diluted share, for the same period in 2017.
  • Cash: Cash and cash equivalents were $48.10M as of July 31, 2018. The cash balance at July 31, 2018 includes $5.00M of proceeds from the $14.60M registered direct financing, which closed on August 2, 2018.

ROE was recorded as -56.20% while beta factor was 2.88. The stock, as of recent close, has shown the weekly upbeat performance of 5.15% which was maintained at 102.97% in this year.

Alfred Jensen

Alfred Jensen focuses on breaking news stories and ensuring we offer timely reporting on some of the most recent stories released through market wires about Healthcare Sector companies. He has formerly spent over 5 years as a trader in U.S. Stock Market and is now semi-stepped down. He works on a full time basis for nasdaqjournal.com specializing in quicker moving active shares with a short term view on investment opportunities and trends.

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