KalVista Pharmaceuticals, Inc. announced the promotion of Ben Palleiko, the Company's current Chief Business Officer and Chief Financial Officer, to the additional title of President. In this expanded role, Mr. Palleiko will be responsible for leading broadly the Company's future business growth, including development of the commercial organization for the intended worldwide launch of sebetralstat, currently in Phase 3 clinical development as the first potential oral, on-demand treatment for hereditary angioedema (HAE) attacks. Mr. Palleiko's promotion follows a $58 million registered direct share offering completed in December 2022.

The financing was led by TCGX, Venrock Healthcare Capital Partners and Frazier Life Sciences, with additional participation by selected existing investors, and was priced at a 17% premium to the share price on the offering date. The net proceeds from this financing, together with the Company's existing cash, investments and anticipated receipts as of October 31, 2022, provides access to over $190 million pro forma as of that date to support execution of the ongoing KONFIDENT Phase 3 trial for KalVista's lead compound sebetralstat, initial preparations by the Company for commercial launch and sales following anticipated FDA approval, and further development of the Company's Factor XIIa program. The Company anticipates data from KONFIDENT in the second half of 2023, following which it expects to file a New Drug Application in the first half of 2024.

With the completed financing, KalVista now expects to be able to fund operations into 2025.