KERX has spent some $550 million over 41/2 years to get the company where it is — Auryxia development with FDA approvals, EU approvals, payor coverage development, marketing/sales, expanded offices, etc. etc. etc.
And after some $550 million spent and 41/2 years later, AKBA gets to merge/acquire KERX by merely issuing some 55 million AKBA shares — only made possible by reducing holdings of KERX shareholders by 62.5%.
This is potentially quite the CF for KERX shareholders — this is like they stuck their hands in your pocket and took 62.5% of your shares. Tell me me fellow shareholders, what are we getting for 62.5% of our shares?
This is potentially criminal — IMO
ALL IMO
