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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
KalVista Pharmaceuticals
KalVista Pharmaceuticals (KALV) investor relations material
KalVista Pharmaceuticals has been acquired
KalVista Pharmaceuticals Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary14 May, 2026
Executive summary
EKTERLY (sebetralstat) received FDA approval in July 2025 and is now marketed in the U.S., Germany, and Japan, with additional global partnerships established.
A definitive merger agreement was signed with Chiesi Farmaceutici S.p.A. in April 2026, with the transaction expected to close in Q3 2026.
The company operates as a single business segment focused on rare disease therapies.
Financial highlights
Total revenues for Q1 2026 were $40.9 million, up from $0 in Q1 2025, driven by EKTERLY's commercial launch.
Net loss for Q1 2026 was $23.5 million, a significant improvement from a $51.8 million net loss in Q1 2025.
Cash, cash equivalents, and marketable securities totaled $285.0 million as of March 31, 2026.
Operating expenses increased to $64.3 million in Q1 2026 from $49.7 million in Q1 2025, mainly due to higher SG&A costs.
Research and development expenses decreased by 12% year-over-year to $12.4 million.
Outlook and guidance
Management expects continued losses as commercialization of EKTERLY expands.
Current liquidity is anticipated to fund operations for at least the next twelve months.
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Latest events from KalVista Pharmaceuticals
- Oral HAE therapy EKTERLY accelerates treatment rates and drives strong market adoption.KALV
The Citizens Life Sciences Conference 2026 - EKTERLY's rapid global uptake and robust data position it as a leading HAE therapy.KALV25th Annual Needham Virtual Healthcare Conference
- EKTERLY's oral HAE therapy drives rapid adoption and global expansion, reshaping the market.KALVCorporate presentation
- Rapid revenue growth, global adoption, and strong cash reserves support future expansion.KALVTransition period
- Ekterly's rapid adoption and high satisfaction are fueling strong refill-driven revenue growth.KALVTD Cowen 46th Annual Health Care Conference
- EKTERLY's launch drove $13.7M Q3 revenue, rapid adoption, and global expansion despite higher net loss.KALVQ3 2026
- Rapid U.S. uptake and $1.4M revenue mark EKTERLY's launch, with $191.5M cash fueling global growth.KALVQ1 2026
- Sebetralstat's rapid, broad efficacy and global launch plans aim to transform HAE treatment.KALV2024 Cantor Fitzgerald Global Healthcare Conference
- Sebetralstat targets a $900M+ HAE market with a June 2025 US launch and global expansion planned.KALVStifel 2024 Healthcare Conference
KalVista Pharmaceuticals
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Frequently asked questions
KalVista Pharmaceuticals Inc. is a biopharmaceutical company engaged in the discovery, development, and commercialization of small molecule protease inhibitors, which are primarily aimed at treating diseases with significant unmet medical needs. The company focuses on advancing a portfolio of inhibitors targeting the kallikrein-kinin system, a key pathway in the human body related to swelling and inflammation. KalVista's research has produced sebetralstat, an oral treatment for hereditary angioedema (HAE), a rare and potentially life-threatening genetic condition characterized by spontaneous episodes of swelling. Additionally, the company is exploring oral Factor XIIa inhibitors, which are in preclinical development stages, for the prophylactic treatment of HAE, along with potential therapies for thrombosis and inflammation. The company is headquartered in Cambridge, Massachusetts, and its shares are listed on the NASDAQ.