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KalVista Pharmaceuticals Raises $193.5M Via Equity To Fund KVD900 Development

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  • KalVista Pharmaceuticals Inc (NASDAQ: KALV) prices its upsized underwritten public offering of 5.375 million at $36 per share, raising $193.5 million in gross proceeds. Earlier, the company offered 4.5 million shares. The offer price represents a marginal discount of 4% on the last close price of $37.46.
  • Underwriters have an option to purchase up to an additional 806,250 shares.
  • Jefferies LLC, Stifel, Nicolaus & Company, Incorporated, and Cantor Fitzgerald & Co. are acting as the joint book-running managers for the offering.
  • KalVista intends to use the net proceeds to fund the planned Phase 3 trial of KVD900, the planned Phase 2 trial of KVD824, and continued development of KalVista's oral Factor XIIa programs, as well as for general corporate purposes.
  • Recently, the company's stock rallied on positive Phase 2 data from KVD900 that showed reduced use of rescue medication in patients suffering swelling attacks associated with hereditary angioedema.
  • Price Action: KALV stock has gained 2.8% at $38.50 in the premarket trading on the last check Thursday.
 

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Posted-In: Phase 3 TrialBiotech News Offerings Small Cap General

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