KalVista Pharma ticks down after $100 mln stock offering filing
Shares of KalVista Pharmaceuticals KALV.O down 0.5% to $15.44 on light post-market volume as co seeks equity raise
Cambridge, Massachusetts-based firm files up to $100 mln "at-the-market" (ATM) equity sales program to be handled by TD Cowen
Co plans to use any net proceeds for general purposes and working capital, including commercialization of its drug, Ekterly
KALV shares on Mon surged nearly 26% to close at $15.06 after the U.S. FDA approved Ekterly, the first on-demand oral treatment for hereditary angioedema (HAE)
HAE is a genetic disorder characterized by recurrent episodes of swelling in various parts of the body, including the limbs, face, intestinal tract, and airway caused by deficiency in a protein known as C1 inhibitor
KalVista has ~49.7 mln shares outstanding for ~$770 mln market cap
Its stock on Thurs ended down 3% at $15.51, trimming YTD gain to 83%
All 10 analysts are bullish on KALV and median PT is $30, LSEG data reflects
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