<SEC-DOCUMENT>0001860131-26-000002.txt : 20260219
<SEC-HEADER>0001860131-26-000002.hdr.sgml : 20260219
<ACCEPTANCE-DATETIME>20260219194440
ACCESSION NUMBER:		0001860131-26-000002
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260217
FILED AS OF DATE:		20260219
DATE AS OF CHANGE:		20260219

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Audhya Paul K.
		CENTRAL INDEX KEY:			0001860131
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36830
		FILM NUMBER:		26656229

	MAIL ADDRESS:	
		STREET 1:		C/O KALVISTA PHARMACEUTICALS, INC.
		STREET 2:		55 CAMBRIDGE PARKWAY, SUITE 901E
		CITY:			CAMBRIDGE
		STATE:			MA
		ZIP:			02142

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KalVista Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001348911
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				200915291
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	BUSINESS ADDRESS:	
		STREET 1:		200 CROSSING BOULEVARD
		CITY:			FRAMINGHAM
		STATE:			MA
		ZIP:			01702
		BUSINESS PHONE:		(857) 999-0075

	MAIL ADDRESS:	
		STREET 1:		200 CROSSING BOULEVARD
		CITY:			FRAMINGHAM
		STATE:			MA
		ZIP:			01702

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Carbylan Therapeutics, Inc.
		DATE OF NAME CHANGE:	20140916

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Carbylan Biosurgery, Inc
		DATE OF NAME CHANGE:	20130102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Carbylan Biosurgery Inc
		DATE OF NAME CHANGE:	20060105
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-02202026_120237.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-02-17</periodOfReport>

    <issuer>
        <issuerCik>0001348911</issuerCik>
        <issuerName>KalVista Pharmaceuticals, Inc.</issuerName>
        <issuerTradingSymbol>KALV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001860131</rptOwnerCik>
            <rptOwnerName>Audhya Paul K.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O KALVISTA PHARMACEUTICALS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>200 CROSSING BOULEVARD</rptOwnerStreet2>
            <rptOwnerCity>FRAMINGHAM</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01702</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>CHIEF MEDICAL OFFICER</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-02-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2419</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>134250</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-02-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1163</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>133087</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Unit</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-02-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2419</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2419</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2419</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each restricted stock unit (&quot;RSU&quot;) represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.</footnote>
        <footnote id="F2">The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of RSUs. The sale was to satisfy tax withholding obligations to be funded by a &quot;sell to cover&quot; transaction and does not represent a discretionary transaction by the Reporting Person.</footnote>
        <footnote id="F3">1/16th of the total number of shares subject to the RSU shall vest on each quarterly anniversary of the Vesting Commencement Date, subject to continued service through each vesting date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Benjamin L. Palleiko, Attorney-in-Fact</signatureName>
        <signatureDate>2026-02-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
