Kalvista Pharmaceuticals reported $49.1 million in global net product revenue from Ekterly for the eight months ended Dec. 31, 2025, after launching the drug in the U.S. on July 7, 2025.
By the end of February, the company said it had received 1,702 patient start forms in the U.S. and activated 724 unique prescribers. Management said that in the fourth quarter of 2025, most of the revenue came from refills rather than initial prescriptions.
Research and development expense fell to $33.4 million for the eight-month period, down from $52.2 million in the prior-year period. Selling, general and administrative expense rose to $124.7 million from $64.9 million a year earlier, driven by commercialization costs tied to Ekterly.
Cost of revenue was $3.1 million for the period.
As of Dec. 31, 2025, Kalvista reported $300.2 million in cash, cash equivalents and marketable securities.
On the clinical side, the company completed enrollment in its Phase 3 Konfident-Kid trial for children ages 2 to 11 a full year ahead of schedule and said it expects to file a U.S. new drug application in the third quarter of 2026, with launch anticipated in 2027.
Internationally, Ekterly launched in Germany and was listed on Japan’s national health insurance reimbursement price list after partner Kaken Pharmaceutical introduced it there. Following these announcements, the company's shares moved -2.41%, and are now trading at a price of $14.60. Check out the company's full 8-K submission here.
