7 September 2018 - - US-based clinical stage pharmaceutical company KalVista Pharmaceuticals, Inc. (NASDAQ: KALV) has priced its underwritten public offering of 4m shares of its common stock at a price to the public of USD 17.00 per share, the company said.

The gross proceeds to KalVista from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by KalVista, are expected to be approximately USD 68m.

In addition, KalVista has granted the underwriters a 30-day over-allotment option to purchase up to an additional 600,000 shares of common stock. The offering is expected to close on September 10, 2018, subject to customary closing conditions.

Jefferies LLC, Stifel, Nicolaus and company, Inc. and Cantor Fitzgerald and Co. are acting as the joint book-running managers for the offering. Roth Capital Partners is acting as co-manager.

KalVista intends to use the net proceeds from this offering to fund late-stage development of KVD900, including beyond anticipated Phase 3 data and a potential larger Phase 2 trial and other activities to accelerate the timeline for a new drug application, and to support accelerated development of additional hereditary angioedema and oral diabetic macular edema programs.

The focus of the additional HAE program will be on a novel compound for prophylactic use. The remainder of the net proceeds, if any, will be used for general corporate purposes.

KalVista Pharmaceuticals is a pharmaceutical company focused on the discovery, development, and commercialisation of small molecule protease inhibitors for diseases with significant unmet need.

The initial focus is on inhibitors of plasma kallikrein, which is an important component of the body's inflammatory response and which, in excess, can lead to increased vascular permeability, edema and inflammation.

KalVista has developed a proprietary portfolio of novel, small molecule plasma kallikrein inhibitors initially targeting hereditary angioedema and diabetic macular edema.

The company has created a structurally diverse portfolio of oral plasma kallikrein inhibitors and is advancing multiple drug candidates into Phase 1 clinical trials for HAE. The company has selected KVD900 as its program to be advanced as an on-demand therapy for acute HAE attacks, and anticipates commencing a Phase 2 proof-of-concept study in HAE patients in late 2018.

In DME, KalVista's most advanced program, an intravitreally administered plasma kallikrein inhibitor known as KVD001, began a Phase 2 clinical trial in 2017 that is anticipated to report data in the second half of 2019.