KalVista Pharmaceuticals Provides Operational Update and Reports Fiscal Quarter Financial Results -EKTERLY now approved in the US and UK; first and only oral on-demand therapy for acute attacks of hereditary angioedema-

KalVista Pharmaceuticals Provides Operational Update and Reports Fiscal Quarter Financial Results

-EKTERLY now approved in the US and UK; first and only oral on-demand therapy for acute attacks of hereditary angioedema-

-Initiated US EKTERLY launch in

July; received 460 patient start forms through August-

-European Medicines Agency adopted a positive opinion recommending approval

of sebetralstat and confirmed maintenance of orphan designation in EU; decision expected early October-

-$191M in cash, providing

-Management to host conference call today at 8:30 a.m. ET-

Framingham, MA and Salisbury, England, September 11, 2025 - KalVista Pharmaceuticals, Inc. (Nasdaq: KALV), today

provided an operational update and released financial results for the fiscal quarter ended July 31, 2025.

"This quarter marked a defining

moment in the history of KalVista with the FDA approval of EKTERLY-the first and only oral on-demand treatment for HAE," stated Ben Palleiko, CEO of KalVista. "Approval and launch on the same

day propelled us immediately into our next chapter of growth as a commercial company, and the response has been extraordinary. In just eight weeks following approval, we have received 460 patient start forms, representing almost five percent of the

reported HAE patient population in the US. This early demand has exceeded our expectations, validating both the urgent unmet need that EKTERLY addresses and its potential to redefine management of HAE. Backed by a strong balance sheet and a

world-class team, we are well positioned to maximize the global opportunity for EKTERLY to become the foundational therapy for people living with HAE."

Recent Business Highlights

EKTERLY (sebetralstat)

First Fiscal Quarter Financial Results

Earnings Conference Call and Webcast

KalVista management will host a webcast today, September 11, 2025, at 8:30 a.m. ET. The webcast will be available on the Investors and News section of

KalVista's website at https://ir.kalvista.com. A replay of the webcast will be archived and available for at least 30 days following the event.

About EKTERLY (sebetralstat) EKTERLY (sebetralstat) is a novel plasma

kallikrein inhibitor approved in the United States and United Kingdom for the treatment of acute attacks of hereditary angioedema (HAE) in people 12 years of age and older. EKTERLY is the first and only oral

on-demand treatment for HAE, offering efficacious and safe treatment of attacks without the burden of injections. With ongoing studies exploring its use in children aged two to 11 and multiple regulatory

applications under review in key global markets, EKTERLY has the potential to become the foundational therapy for HAE management worldwide. For more information, including the full U.S. Prescribing Information, visit EKTERLY.com.

About KalVista Pharmaceuticals, Inc.

KalVista is a global

pharmaceutical company dedicated to delivering life-changing oral therapies for individuals affected by rare diseases with significant unmet needs. The KalVista team discovered and developed

EKTERLY -the first and only oral on-demand treatment for hereditary angioedema (HAE)- and continues to work closely with the global HAE

Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation

Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project,"

"estimate," "expect," "position," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. These

statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. Examples of forward-looking statements include, among others, information relating to our business and business

plans, the success of our efforts to commercialize EKTERLY, including revenues from sales of EKTERLY, our ability to successfully obtain foreign regulatory approvals for sebetralstat, our expectations about the safety and efficacy of sebetralstat

and our other product candidates, the timing of clinical trials and their results, our ability to commence clinical studies or complete ongoing clinical studies, including our KONFIDENT-S and KONFIDENT-KID trials, and the ability of EKTERLY to treat HAE, and the future progress and potential success of our oral Factor XIIa program. Further information on potential risk factors that could affect our

business and financial results are detailed in our filings with the Securities and Exchange Commission, including in our annual report on Form 10-K for the year ended April 30, 2025, our quarterly reports

on Form 10-Q, and our other reports that we may make from time to time with the Securities and Exchange Commission. We undertake no obligation to publicly update any forward-looking statement, whether written

or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Head, Investor Relations

Director, Corporate Communications

KALVISTA PHARMACEUTICALS, INC.

Consolidated Balance Sheets

(in thousands except share and per share amounts)

KALVISTA PHARMACEUTICALS, INC.

Consolidated Statements of Operations

(in thousands, except share and per share amounts)