Form 4: Venrock Healthcare Capital Partners III, L.P. Increases Stake in KalVista Pharmaceuticals, Inc.

Venrock Healthcare Capital Partners III, L.P. reports purchasing additional shares of KalVista Pharmaceuticals, Inc. common stock, increasing its beneficial ownership.

Summary

• Venrock Healthcare Capital Partners III, L.P. acquired additional shares of KalVista Pharmaceuticals, Inc. common stock on February 12 and 13, 2025.
• On February 12, 2025, 100,000 shares were purchased at a weighted average price of $9.23, with prices ranging from $9.15 to $9.30.
• On February 13, 2025, 61,700 shares were purchased at a weighted average price of $9.33, with prices ranging from $9.01 to $9.35.
• Following these transactions, the total number of shares beneficially owned by Venrock Healthcare Capital Partners III, L.P. and related entities is 5,278,985.
• The shares are held by Venrock Healthcare Capital Partners III, L.P., VHCP Co-Investment Holdings III, LLC, and Venrock Healthcare Capital Partners EG, L.P.
• VHCP Management III, LLC and VHCP Management EG, LLC, as general partners, and Bong Koh and Nimish Shah, as voting members, may be deemed to beneficially own these securities, disclaiming ownership except for their indirect pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects a routine transaction of share purchases by a major shareholder, indicating continued investment but without specific positive or negative implications.

Positives

• Increased investment by Venrock Healthcare Capital Partners III, L.P. may signal confidence in KalVista Pharmaceuticals, Inc.'s future prospects.

Industry Context

This filing reflects ongoing investment activity in the pharmaceutical sector, where venture capital firms like Venrock Healthcare Capital Partners frequently adjust their holdings based on company performance and market conditions.

Comparison to Industry Standards

• It's common for venture capital firms specializing in healthcare, such as Venrock, to actively manage their portfolio companies like KalVista Pharmaceuticals.
• Similar investments can be seen with firms like Orbimed, RA Capital Management, and NEA, who often adjust their positions in biotech companies based on clinical trial results and market opportunities.
• The size of this investment is within the typical range for follow-on investments by venture firms in their portfolio companies.

Stakeholder Impact

• The increased stake by Venrock Healthcare Capital Partners III, L.P. could be viewed positively by shareholders, potentially increasing investor confidence.

Key Dates

Keywords

KalVista Pharmaceuticals, Venrock Healthcare Capital Partners, Share Purchase, Beneficial Ownership, Form 4, Investment