KalVista Pharmaceuticals Provides Business Update

KalVista Pharmaceuticals, Inc. (NASDAQ: KALV), a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors, today provided an update on the status of its development programs. KalVista now expects to complete enrollment for the KVD900 Phase 2 clinical trial before year-end 2019 and to provide data in 2020. The Phase 2 clinical trial of KVD001 in DME is still expected to provide data this quarter.

"We are pleased with the rate of enrollment of our Phase 2 clinical trial of KVD900 in HAE patients," said Andrew Crockett, Chief Executive Officer of KalVista. "Our plan to recruit patients primarily in European HAE centers is serving us well, with good recruitment at our clinical sites. Regulatory and ethical approvals have been timely, although start-up at several sites has taken longer than anticipated. We have identified a robust pipeline of patients eager to try a potentially efficacious oral on-demand treatment, and we anticipate that we will complete recruitment before year-end 2019 and provide data in 2020."

Management from KalVista will present a corporate overview at the following upcoming investor conferences:

• Stifel 2019 Healthcare Conference on Tuesday, November 19, 2019 at 8:00 a.m. EST in New York, NY;
• Jefferies London Healthcare Conference on Thursday, November 21, 2019 at 8:00 a.m. GMT in London, England.

A live webcast of the presentations will be available on the Company's website at www.kalvista.com. An audio archive will be available on KalVista's website for 30 days following the presentations.

About KalVista Pharmaceuticals, Inc.
KalVista Pharmaceuticals, Inc. is a pharmaceutical company focused on the discovery, development, and commercialization of small molecule protease inhibitors for diseases with significant unmet need. The initial focus is on inhibitors of plasma kallikrein, which is an important component of the body's inflammatory response and which, in excess, can lead to increased vascular permeability, edema and inflammation. KalVista has developed a proprietary portfolio of novel, small molecule plasma kallikrein inhibitors initially targeting hereditary angioedema (HAE) and diabetic macular edema (DME). The Company has created a structurally diverse portfolio of oral plasma kallikrein inhibitors and is advancing multiple drug candidates for HAE as well as DME. The Company has selected KVD900 as its program to be advanced as an on-demand therapy for HAE attacks and commenced a Phase 2 proof-of-concept study in HAE patients in late 2018. In DME, KalVista's most advanced program, an intravitreally administered plasma kallikrein inhibitor known as KVD001, is anticipated to report data from a Phase 2 clinical trial in the fourth quarter of 2019.

For more information, please visit www.kalvista.com.

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," "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, those regarding future clinical trial enrollment, timing and results. Further information on potential risk factors that could affect our business and its financial results are detailed in the annual report on Form 10-K filed on July 15, 2019 and other reports as filed 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.