Business Description

Note 1. Description of Business and Basis of Presentation KalVista Pharmaceuticals, Inc. (“KalVista” or the “Company”) is a commercial stage pharmaceutical company focused on the discovery, development and commercialization of drug therapies for diseases with significant unmet need. The Company has used its capabilities to develop sebetralstat, a novel, orally delivered, small molecule plasma kallikrein inhibitor targeting the disease hereditary angioedema (“HAE”). In July 2025, the U.S. Food and Drug Administration (the “FDA”) approved EKTERLY (sebetralstat) for the treatment of acute attacks of HAE in adult and pediatric patients aged 12 years and older. The FDA approval was based on data from the phase 3 KONFIDENT clinical trial, published in the New England Journal of Medicine. Until now, all on-demand treatment options approved in the U.S. required intravenous or subcutaneous administration, which carries a significant treatment burden. Even with the use of long-term prophylaxis as a preventative therapy, most people living with HAE continue to have unpredictable attacks and require ready access to on-demand medication. The Company’s headquarters is currently located in Cambridge, Massachusetts, with additional offices and research activities located in Framingham, Massachusetts; Cambridge, Massachusetts; Porton Down, United Kingdom; Salt Lake City, Utah; Zug, Switzerland; Tokyo, Japan; Berlin, Germany and Dublin, Ireland. The Company has funded its operations primarily through a combination of equity financings, collaborations, strategic partnerships, royalty financings, and licensing arrangements. As of April 30, 2025, the Company had an accumulated deficit of $ 653.2 million and cash, cash equivalents and marketable securities totaling $ 220.6 million. The Company anticipates that it will continue to incur losses for the foreseeable future, and it expects those losses to continue as it begins to commercialize EKTERLY. The Company is subject to risks and uncertainties common to companies in the pharmaceutical industry with development and commercial operations, and it may encounter unforeseen expenses, difficulties, complications, delays and other unknown factors that may adversely affect its business. The Company currently anticipates that, based upon its operating plans and existing capital resources, it has sufficient funding to operate for at least the next twelve months. The Company may seek to finance future cash needs through equity offerings, debt financing, corporate partnerships and product sales. Change in fiscal year On March 13, 2025, the Board approved a change to our fiscal year end from April 30 to December 31. The change in fiscal year is effective for the Company's 2026 fiscal year.