KalVista Pharma Stock Halves After Terminating Phase 2 Trial For Treatment Of Hereditary Angioedema

Shares of KalVista Pharmaceuticals, Inc. (KALV) tanked over 53% on Tuesday morning after the clinical stage pharmaceutical company terminated phase 2 trial for prophylactic treatment of hereditary angioedema.

KALV is currently trading at $6.61, down $7.63 or 53.58%, on the Nasdaq, on a volume of 1.3 million shares, above average volume of 172 thousand. The stock opened its trading at $14.73 after closing Monday's trading at $14.24. The stock has traded between $6.60 and $18.53 in the past 52-week period.

KalVista Pharmaceuticals announced Monday that it has terminated the KOMPLETE phase 2 clinical trial for KVD824 for the prevention of attacks in people with hereditary angioedema (HAE).

This decision was based on the observation of liver enzyme (ALT/AST) elevations in multiple patients in all treatment groups of the trial. No patients had concomitant elevation of bilirubin levels and all were asymptomatic.

KalVista continues to recruit the phase 3 KONFIDENT trial assessing sebetralstat (formerly KVD900) as a potential oral, on-demand therapy for HAE attacks, with data anticipated in the second half of 2023.

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