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KalVista closes $78.2M common stock offering; proceeds to fund angioedema drug

KalVista Pharmaceuticals Inc. closed a common stock offering to raise about $78.2 million in gross proceeds.

The Cambridge, Mass.-based company offered 4.6 million shares at $17 apiece, which included the full exercise by the underwriters of their option to buy 600,000 additional shares.

KalVista intends to use the net proceeds to fund its experimental hereditary angioedema treatment KVD900. Hereditary angioedema is characterized by recurrent episodes of severe swelling.

The remainder of the proceeds will be used to fund other clinical programs and for general corporate purposes.

Jefferies LLC, Stifel Nicolaus & Co. Inc. and Cantor Fitzgerald & Co. acted as the joint book-running managers, while Roth Capital Partners served as co-manager for the offering.