KalVista Pharmaceuticals, Inc. (NASDAQ: KALV)

KalVista Pharmaceuticals, Inc. is a global biopharmaceutical company dedicated to developing and delivering life changing oral therapies for individuals affected by rare diseases with significant unmet needs. Its lead product is EKTERLY (sebetralstat), an oral plasma kallikrein inhibitor approved for the treatment of acute attacks of hereditary angioedema in patients aged 12 and older.

The company generates revenue primarily from sales of EKTERLY in the United States following FDA approval in July 2025, from upfront payments, milestone payments and royalties under licensing agreements with partners such as Kaken Pharmaceutical in Japan and Pendopharm in Canada, and from a royalty interest sale to DRI Healthcare Acquisitions LP that provides an upfront cash payment and future tiered royalties on worldwide net sales of EKTERLY.

KalVista occupies a niche as the first and only oral on demand therapy for hereditary angioedema, competing against intravenous and subcutaneous options offered by Takeda, CSL Behring, Pharming Group, BioCryst and CSL, as well as emerging oral candidates from companies such as Pharvaris and Intellia; its competitive advantage lies in the convenience of a tablet, rapid onset of action and a favorable safety profile that may reduce treatment burden for patients.

The company serves patients with hereditary angioedema, their treating physicians such as allergists and immunologists who manage the majority of U. S. claims, and healthcare payers that provide coverage and reimbursement for the therapy.