KalVista Pharmaceuticals, Inc.
KALV · Pharmaceutical Preparations · 53.2M shares · +27%/yr ↑ dilution · EDGAR filings ↗
Reference price $26.78 · est. market cap ~$1.4B — last insider sale, 2026-05-27 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Clinical/early-stage biotech — HAE drug (Ekterly) at launch, heavy burn, funded.
Strengths
- Liquidity — current ratio 5.6 (62nd)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -63.52)
- Chronic dilutionShare count +27%/yr over 3y (dilution, book value/share -101%)
- Strong balance sheetStrong balance sheet — $300M cash & investments
- Insider sellingInsider selling — 32 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$6M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Debt / equity
-63.5×
Current ratio
5.6×
Tangible book value
-$3M
Cash & investments
$300M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-11 | Audhya Paul K. | Disposition | 150K | — |
| 2026-06-11 | Piekos Brian | Disposition | 22K | — |
| 2026-06-11 | Sweeny Nicole | Disposition | 59K | — |
| 2026-06-11 | Palleiko Benjamin L | Disposition | 480K | — |
| 2026-06-11 | Yea Christopher | Disposition | 230K | — |
| 2026-05-27 | Yea Christopher | Option exercise | 34K | $7.07 |
| 2026-05-27 | Yea Christopher | Sell | 34K | $26.78 |
| 2026-05-26 | Sweeny Nicole | Sell | 1.5K | $26.78 |
| 2026-05-26 | Yea Christopher | Sell | 2.0K | $26.78 |
| 2026-05-26 | Audhya Paul K. | Sell | 2.2K | $26.78 |
| 2026-05-22 | Sweeny Nicole | Option exercise | 5.0K | — |
| 2026-05-22 | Yea Christopher | Sell | 2.4K | $26.78 |
| 2026-05-22 | Palleiko Benjamin L | Sell | 11K | $26.78 |
| 2026-05-22 | Audhya Paul K. | Option exercise | 5.0K | — |
| 2026-05-22 | Piekos Brian | Sell | 1.5K | $26.78 |
| 2026-05-22 | Yea Christopher | Option exercise | 3.1K | — |
| 2026-05-22 | Audhya Paul K. | Sell | 2.7K | $26.78 |
| 2026-05-22 | Sweeny Nicole | Sell | 1.9K | $26.78 |
| 2026-05-21 | Piekos Brian | Option exercise | 5.0K | — |
| 2026-05-21 | Audhya Paul K. | Option exercise | 6.2K | — |
| 2026-05-21 | Sweeny Nicole | Option exercise | 6.2K | — |
| 2026-05-21 | Yea Christopher | Option exercise | 3.8K | — |
| 2026-05-21 | Palleiko Benjamin L | Option exercise | 23K | — |
| 2026-05-18 | Yea Christopher | Sell | 1.1K | $26.76 |
| 2026-05-18 | Audhya Paul K. | Sell | 1.0K | $26.76 |
| 2026-05-18 | Palleiko Benjamin L | Sell | 1.1K | $26.76 |
| 2026-05-17 | Palleiko Benjamin L | Option exercise | 2.4K | — |
| 2026-05-17 | Audhya Paul K. | Option exercise | 2.4K | — |
| 2026-05-17 | Yea Christopher | Option exercise | 1.8K | — |
| 2026-05-12 | Palleiko Benjamin L | Sell | 3.3K | $26.71 |
| 2026-05-11 | Palleiko Benjamin L | Option exercise | 7.1K | — |
| 2026-04-17 | Palleiko Benjamin L | Sell | 9.6K | $20.22 |
| 2026-04-17 | Audhya Paul K. | Sell | 2.7K | $20.22 |
| 2026-04-17 | Piekos Brian | Sell | 1.9K | $20.22 |
| 2026-04-17 | Sweeny Nicole | Sell | 1.9K | $20.22 |
| 2026-04-16 | Palleiko Benjamin L | Option exercise | 20K | — |
| 2026-04-16 | Audhya Paul K. | Option exercise | 6.2K | — |
| 2026-04-16 | Sweeny Nicole | Option exercise | 6.2K | — |
| 2026-04-16 | Piekos Brian | Option exercise | 6.2K | — |
| 2026-03-26 | Venrock Healthcare Capital Partners III, L.P. | Sell | 15K | $18.82 |
| 2026-03-26 | Venrock Healthcare Capital Partners III, L.P. | Sell | 21K | $17.76 |
| 2026-03-26 | Venrock Healthcare Capital Partners III, L.P. | Sell | 3.2K | $19.12 |
| 2026-03-25 | Venrock Healthcare Capital Partners III, L.P. | Sell | 174K | $16.95 |
| 2026-03-25 | Venrock Healthcare Capital Partners III, L.P. | Sell | 160 | $17.53 |
| 2026-03-09 | Palleiko Benjamin L | Sell | 6.7K | $16.08 |
| 2026-03-06 | Palleiko Benjamin L | Option exercise | 16K | — |
| 2026-02-23 | Yea Christopher | Sell | 4.3K | $15.57 |
| 2026-02-23 | Audhya Paul K. | Sell | 5.4K | $15.57 |
| 2026-02-23 | Sweeny Nicole | Sell | 4.0K | $15.57 |
| 2026-02-23 | Piekos Brian | Sell | 1.8K | $15.57 |
| 2026-02-23 | Palleiko Benjamin L | Sell | 10K | $15.57 |
| 2026-02-22 | Audhya Paul K. | Option exercise | 5.0K | — |
| 2026-02-22 | Sweeny Nicole | Option exercise | 5.0K | — |
| 2026-02-22 | Yea Christopher | Option exercise | 3.1K | — |
| 2026-02-21 | Yea Christopher | Option exercise | 3.8K | — |
| 2026-02-21 | Sweeny Nicole | Option exercise | 6.2K | — |
| 2026-02-21 | Audhya Paul K. | Option exercise | 6.2K | — |
| 2026-02-21 | Piekos Brian | Option exercise | 5.0K | — |
| 2026-02-21 | Palleiko Benjamin L | Option exercise | 23K | — |
| 2026-02-18 | Yea Christopher | Sell | 1.1K | $15.00 |
| 2026-02-18 | Audhya Paul K. | Sell | 1.2K | $15.00 |
| 2026-02-18 | Palleiko Benjamin L | Sell | 1.0K | $15.00 |
| 2026-02-17 | Audhya Paul K. | Option exercise | 2.4K | — |
| 2026-02-17 | Palleiko Benjamin L | Option exercise | 2.4K | — |
| 2026-02-17 | Yea Christopher | Option exercise | 1.8K | — |
| 2026-02-12 | Palleiko Benjamin L | Sell | 3.4K | $15.70 |
| 2026-02-11 | Palleiko Benjamin L | Option exercise | 7.1K | — |
| 2025-12-08 | Palleiko Benjamin L | Sell | 7.3K | $16.51 |
| 2025-12-06 | Palleiko Benjamin L | Option exercise | 16K | — |
| 2025-11-24 | Sweeny Nicole | Sell | 3.8K | $13.45 |
| 2025-11-24 | Palleiko Benjamin L | Sell | 11K | $13.45 |
| 2025-11-24 | Audhya Paul K. | Sell | 5.3K | $13.45 |
| 2025-11-24 | Piekos Brian | Sell | 4.5K | $13.45 |
| 2025-11-24 | Yea Christopher | Sell | 4.3K | $13.45 |
| 2025-11-22 | Yea Christopher | Option exercise | 3.1K | — |
| 2025-11-22 | Sweeny Nicole | Option exercise | 5.0K | — |
| 2025-11-22 | Audhya Paul K. | Option exercise | 5.0K | — |
| 2025-11-21 | Piekos Brian | Option exercise | 15K | — |
| 2025-11-21 | Audhya Paul K. | Option exercise | 6.2K | — |
| 2025-11-21 | Yea Christopher | Option exercise | 3.8K | — |
| 2025-11-21 | Palleiko Benjamin L | Option exercise | 23K | — |
| 2025-11-21 | Sweeny Nicole | Option exercise | 6.2K | — |
| 2025-11-20 | Yea Christopher | Option exercise | 87K | $0.00 |
| 2025-11-18 | Yea Christopher | Sell | 2.7K | $14.48 |
| 2025-11-18 | Audhya Paul K. | Sell | 3.1K | $14.48 |
| 2025-11-18 | Palleiko Benjamin L | Sell | 4.5K | $14.48 |
| 2025-11-17 | Palleiko Benjamin L | Option exercise | 9.4K | — |
| 2025-11-17 | Yea Christopher | Option exercise | 4.2K | — |
| 2025-11-17 | Audhya Paul K. | Option exercise | 6.4K | — |
| 2025-11-12 | Palleiko Benjamin L | Sell | 3.3K | $11.55 |
| 2025-11-11 | Palleiko Benjamin L | Option exercise | 7.1K | — |
| 2025-09-08 | Palleiko Benjamin L | Sell | 7.3K | $15.84 |
| 2025-09-06 | Palleiko Benjamin L | Option exercise | 16K | — |
| 2025-08-25 | Yea Christopher | Sell | 2.0K | $13.42 |
| 2025-08-25 | Sweeny Nicole | Sell | 1.5K | $13.42 |
| 2025-08-25 | Audhya Paul K. | Sell | 2.3K | $13.42 |
| 2025-08-22 | Yea Christopher | Option exercise | 3.1K | — |
| 2025-08-22 | Sweeny Nicole | Option exercise | 5.0K | — |
| 2025-08-22 | Audhya Paul K. | Option exercise | 5.0K | — |
| 2025-08-22 | Sweeny Nicole | Sell | 1.9K | $13.22 |
| 2025-08-22 | Yea Christopher | Sell | 2.4K | $13.22 |
| 2025-08-22 | Palleiko Benjamin L | Sell | 11K | $13.22 |
| 2025-08-22 | Audhya Paul K. | Sell | 2.9K | $13.22 |
| 2025-08-21 | Yea Christopher | Option exercise | 3.8K | — |
| 2025-08-21 | Audhya Paul K. | Option exercise | 6.2K | — |
| 2025-08-21 | Sweeny Nicole | Option exercise | 6.2K | — |
| 2025-08-21 | Palleiko Benjamin L | Option exercise | 23K | — |
| 2025-08-18 | Audhya Paul K. | Sell | 2.9K | $13.19 |
| 2025-08-18 | Palleiko Benjamin L | Sell | 4.4K | $13.19 |
| 2025-08-18 | Yea Christopher | Sell | 2.6K | $13.19 |
| 2025-08-17 | Audhya Paul K. | Option exercise | 6.4K | — |
| 2025-08-17 | Yea Christopher | Option exercise | 4.2K | — |
| 2025-08-17 | Palleiko Benjamin L | Option exercise | 9.4K | — |
| 2025-07-09 | Yea Christopher | Sell | 30K | $15.69 |
| 2025-07-09 | Palleiko Benjamin L | Sell | 33K | $15.69 |
| 2025-07-08 | Palleiko Benjamin L | Grant | 88K | — |
| 2025-07-08 | Yea Christopher | Grant | 60K | — |
| 2025-06-09 | Palleiko Benjamin L | Sell | 7.2K | $14.50 |
| 2025-06-06 | Palleiko Benjamin L | Option exercise | 16K | — |
| 2025-05-23 | Audhya Paul K. | Sell | 2.1K | $11.31 |
| 2025-05-23 | Yea Christopher | Sell | 1.9K | $11.31 |
| 2025-05-22 | Yea Christopher | Option exercise | 3.1K | — |
| 2025-05-22 | Palleiko Benjamin L | Sell | 10.0K | $11.88 |
| 2025-05-22 | Audhya Paul K. | Option exercise | 5.0K | — |
| 2025-05-22 | Audhya Paul K. | Sell | 2.7K | $11.88 |
| 2025-05-22 | Yea Christopher | Sell | 2.3K | $11.88 |
| 2025-05-21 | Yea Christopher | Option exercise | 3.8K | — |
| 2025-05-21 | Audhya Paul K. | Option exercise | 6.2K | — |
| 2025-05-21 | Palleiko Benjamin L | Option exercise | 23K | — |
| 2025-05-19 | Yea Christopher | Sell | 2.6K | $11.84 |
| 2025-05-19 | Palleiko Benjamin L | Sell | 3.8K | $11.84 |
| 2025-05-19 | Audhya Paul K. | Sell | 2.8K | $11.84 |
| 2025-05-17 | Yea Christopher | Option exercise | 4.2K | — |
| 2025-05-17 | Palleiko Benjamin L | Option exercise | 9.4K | — |
| 2025-05-17 | Audhya Paul K. | Option exercise | 6.4K | — |
| 2025-04-09 | Venrock Healthcare Capital Partners III, L.P. | Buy | 25K | $9.42 |
| 2025-03-07 | Palleiko Benjamin L | Sell | 6.7K | $11.97 |
| 2025-03-06 | Palleiko Benjamin L | Option exercise | 16K | — |
| 2025-02-24 | Yea Christopher | Sell | 1.9K | $10.02 |
| 2025-02-24 | Audhya Paul K. | Sell | 2.4K | $10.02 |
| 2025-02-22 | Audhya Paul K. | Option exercise | 5.0K | — |
| 2025-02-22 | Yea Christopher | Option exercise | 3.1K | — |
| 2025-02-18 | Palleiko Benjamin L | Sell | 5.1K | $9.82 |
| 2025-02-18 | Yea Christopher | Sell | 2.6K | $9.82 |
| 2025-02-18 | Audhya Paul K. | Sell | 3.1K | $9.82 |
| 2025-02-17 | Palleiko Benjamin L | Option exercise | 9.4K | — |
| 2025-02-17 | Yea Christopher | Option exercise | 4.2K | — |
| 2025-02-17 | Audhya Paul K. | Option exercise | 6.4K | — |
| 2025-02-13 | Venrock Healthcare Capital Partners III, L.P. | Buy | 62K | $9.33 |
| 2025-02-12 | Venrock Healthcare Capital Partners III, L.P. | Buy | 100K | $9.23 |
| 2025-02-11 | Venrock Healthcare Capital Partners III, L.P. | Buy | 27K | $9.18 |
| 2025-02-10 | Venrock Healthcare Capital Partners III, L.P. | Buy | 4.1K | $9.14 |
| 2025-02-07 | Venrock Healthcare Capital Partners III, L.P. | Buy | 74K | $9.29 |
| 2025-02-03 | Venrock Healthcare Capital Partners III, L.P. | Buy | 15K | $9.22 |
| 2025-01-31 | Venrock Healthcare Capital Partners III, L.P. | Buy | 12K | $8.89 |
| 2025-01-30 | Venrock Healthcare Capital Partners III, L.P. | Buy | 44K | $8.76 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Material agreement1.02Acquisition/dispositionDebt obligationDelisting notice3.035.01Exec/director change5.03Reg FDExhibits | filing ↗ |
| 2026-04-29 | Material agreementReg FDExhibits | filing ↗ |
| 2026-03-25 | ResultsExhibits | filing ↗ |
| 2026-01-08 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-10 | ResultsExhibits | filing ↗ |
| 2025-10-06 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-10-02 | Exec/director changeShareholder voteReg FDExhibits | filing ↗ |
| 2025-09-29 | Material agreementDebt obligation3.02OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-11 | 0001140361-26-024949 ↗ |
| 10-Q | 2026-05-14 | 2026-03-31 | 0001193125-26-223976 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001140361-26-017656 ↗ |
| 8-K | 2026-03-25 | 2026-03-25 | 0001193125-26-122784 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001193125-26-007801 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001193125-25-274442 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001193125-25-274405 ↗ |
| 8-K | 2025-10-06 | 2025-10-06 | 0001193125-25-230906 ↗ |
| 8-K | 2025-10-02 | 2025-10-01 | 0001193125-25-227478 ↗ |
| 8-K | 2025-09-29 | 2025-09-24 | 0001193125-25-223262 ↗ |
| 10-Q | 2025-09-11 | 2025-07-31 | 0001193125-25-200757 ↗ |
| 8-K | 2025-09-11 | 2025-09-11 | 0001193125-25-200742 ↗ |