13D Filing: RA Capital Management and Kalvista Pharmaceuticals Inc. (KALV)

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SCHEDULE 13D

Under the Securities Exchange Act of
1934

(Amendment No. 1)*

Kalvista Pharmaceuticals,
Inc.

(Name of Issuer)

Common Stock, par
value $0.001 per share

(Title of Class of
Securities)

483497103

(CUSIP Number)

RA Capital Management, LLC

20 Park Plaza, Suite 1200

Boston, MA 02116

Telephone: 617.778.2512

Attn: Peter
Kolchinsky

(Name, Address and
Telephone Number of Person Authorized to
Receive Notices and Communications)

October 12, 2017

(Date of Event Which
Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. ¨

Note: Schedules filed in paper format shall include a
signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to
be sent.

* The remainder of this cover page shall be filled out for a
reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

CUSIP No. 483497103

1	Names of Reporting Persons. RA Capital Management, LLC
2	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a) ¨
	(b) ¨
3	SEC Use Only
4	Source of Funds (See Instructions): AF
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e): ¨
6	Citizenship or Place of Organization. Massachusetts
Number of Shares Beneficially Owned by Each Reporting Person With		7	Sole Voting Power 0 shares
		8	Shared Voting Power      1,441,070 shares
		9	Sole Dispositive Power 0 shares
		10	Shared Dispositive Power      1,441,070 shares
11	Aggregate Amount Beneficially Owned by Each Reporting Person 1,441,070 shares
12	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)      ¨
13	Percent of Class Represented by Amount in Row (11) 14.8%1
14	Type of Reporting Person (See Instructions) IA, OO (Limited Liability Company)

¹
The reporting person is the beneficial owner of 1,441,070 shares of the Issuer’s Common Stock which
constitute approximately 14.8% of the class outstanding. The percentage calculation assumes that there are currently
9,713,042 outstanding shares of Common Stock of the Issuer, based on the Issuer’s Form 10-Q as filed with the
Securities and Exchange Commission (“SEC”) on September 14, 2017.

1	Names of Reporting Persons.   Peter Kolchinsky
2	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a) ¨
	(b) ¨
3	SEC Use Only
4	Source of Funds (See Instructions): AF
5	Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e): ¨
6	Citizenship or Place of Organization.    United States
Number of Shares Beneficially Owned by Each Reporting Person With		7	Sole Voting Power      0 shares
		8	Shared Voting Power 1,441,070 shares
		9	Sole Dispositive Power 0 shares
		10	Shared Dispositive Power      1,441,070 shares
11	Aggregate Amount Beneficially Owned by Each Reporting Person 1,441,070 shares
12	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)     ¨
13	Percent of Class Represented by Amount in Row (11) 14.8%2
14	Type of Reporting Person (See Instructions) HC, IN

² The reporting person
is the beneficial owner of 1,441,070 shares of the Issuer’s Common Stock which constitute approximately 14.8% of the class
outstanding. The percentage calculation assumes that there are currently 9,713,042 outstanding shares of Common Stock of the Issuer,
based on the Issuer’s Form 10-Q as filed with the Securities and Exchange Commission (“SEC”) on September 14,
2017.

This
Amendment No. 1 amends and supplements the statement on Schedule 13D (the “Statement”) originally filed with the Securities
and Exchange Commission on February 14, 2017 by the Reporting Persons with respect to the Common Stock, $0.001 par value (the “Common
Stock”), of Kalvista Pharmaceuticals, Inc. (the “Issuer”).   Unless
otherwise defined herein, capitalized terms used in this Amendment No. 1 shall have the meanings ascribed to them in the initial
Statement.

Item
3. Source and Amount of Funds or Other Consideration

Item 3 of the Statement is hereby amended
and supplemented as follows:

On October 12, 2017, the Reporting Persons
purchased 850,000 shares of Common Stock of the Issuer for $7,242,000.00. The shares were purchased with working capital.

Item
4. Purpose of Transaction

Item 4 is hereby supplemented as follows:

The Reporting Persons acquired the Common
Stock referred to in Item 3 for investment purposes and not with an intent, purpose or effect of changing control of the Issuer.

Item
5. Interest in Securities of the Issuer

(a) and (b) See Items 7-11 of the cover
pages and Item 2 above.

(c) The following table lists the Reporting
Persons’ transactions in Common Stock that were effected during the sixty day period prior to the filing of this Schedule
13D:

Transaction	Date	No. Shares	Price
Purchase	12-Oct-2017	850,000	$8.50

(d) Not applicable.

(e) Not applicable.

Item
7. Material to Be Filed as Exhibits

Exhibit 1

Joint Filing Agreement by and among the Reporting Persons is incorporated herein by reference to Exhibit 1 to the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on February 14, 2017.

SIGNATURE

After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: November 10, 2017

RA CAPITAL MANAGEMENT, LLC

By: /s/ Peter Kolchinsky

————————————————-

Peter Kolchinsky

Manager

PETER KOLCHINSKY

/s/ Peter Kolchinsky

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