KALV - KalVista Is Still Cheap After Phase 3 Hereditary Angioedema Data

2024-02-15 12:18:48 ET

Summary

• KalVista Pharmaceutical announces positive phase 3 data for its oral therapy, sebetralstat, for hereditary angioedema.
• Sebetralstat's rapid onset of symptom relief, oral administration, and favorable safety profile give it a competitive edge in the on-demand segment of the HAE market.
• KalVista's stock remains undervalued, trading at 1x its estimated peak annual revenue for sebetralstat, signaling upside for investors.

At a Glance

KalVista Pharmaceutical's ( KALV ) stock is up over 65% since my "Buy" recommendation in October. On Tuesday, they announced positive phase 3 data for its oral therapy, sebetralstat , as an on-demand treatment for hereditary angioedema , a rare disease. KalVista's stock was relatively unmoved after this success, but this did come the same day inflation numbers came in higher than expected , muting hopes of rate cuts later this year by the Federal Reserve. To be fair, positive results were also largely expected, and much of it was likely priced into KalVista's stock....

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