KalVista Pharmaceuticals (KALV)

[Toxic Avenger]

Problem is, they've giving that cash away for a 19% interest in another biotech that is overvalued. $56 million invested at KalVista by A and B rounds for 76% of the company is being valued at $150 million.
KalVista investors have doubled their money.
CBYL investors are getting a 60% reduction in the value OF THEIR CASH, not to mention a 90% reduction in the value of their total invested cash.

All this for a company that has 1 drug that finished phase I testing and another (for a disease that affects 1:10,000 people) that is just starting phase I testing.

As of 6/30, CBYL has $1.37 in positive book value, KalVista has negative $18.69.

How the CBYL board and large shareholders can continue to support a transaction which clearly the market feels is bad for the company is beyond me.

I urge all shareholders to vote against the transaction and force the company to liquidate and at least get us back to $1/share value.