KalVista Pharmaceuticals Inc. (NASDAQ:KALV) reported global net product revenue of $49.1 million from its therapy EKTERLY during the eight-month period ending December 31, 2025, according to financial results covering the company’s fiscal transition period.
Since launch through February, KalVista received 1,702 patient start forms in the United States, representing roughly 20% of the estimated U.S. patient population. During the same period, EKTERLY was prescribed by 724 unique clinicians. The company said most of its fourth-quarter 2025 revenue came from refill prescriptions for the hereditary angioedema treatment.
EKTERLY was also introduced in Japan through KalVista’s partner Kaken Pharmaceutical Co., Ltd. and has been added to the country’s National Health Insurance reimbursement list. The oral, on-demand therapy is the first of its type to become available in the Japanese market.
KalVista also completed enrollment for its Phase 3 KONFIDENT-KID trial evaluating sebetralstat in pediatric patients with hereditary angioedema aged 2 to 11, finishing recruitment a full year ahead of schedule. The company expects to submit a U.S. new drug application in the third quarter of 2026, with a potential launch targeted for 2027.
For the eight-month transition period, the company reported cost of revenue of $3.1 million. Research and development expenses declined to $33.4 million from $52.2 million in the comparable period the previous year. Selling, general and administrative costs increased to $124.7 million from $64.9 million, largely reflecting commercialization spending tied to the EKTERLY launch.
KalVista posted a net loss of $109.5 million, or $2.03 per share, compared with a net loss of $110.5 million, or $2.30 per share, in the prior year period. As of December 31, 2025, the company held approximately $300.2 million in cash, cash equivalents and marketable securities.
KalVista recently shifted its fiscal year-end from April 30 to December 31, resulting in an eight-month reporting period spanning May 1, 2025 through December 31, 2025.