KALV edges up with Chiesi deal price at $27, small gap left
KalVista Pharmaceuticals shares hovered under Chiesi Group’s $27 per share cash offer in early trading Friday on Nasdaq. A new filing showed an investor group tied to Frazier Life Sciences offloaded a sizable block of stock close to the offer level. KALV trading now looks mostly like a merger-arbitrage bet, not a biotech play. The spread between KALV’s market price and its agreed buyout price stood at roughly 0.9% on Thursday, with shares at $26.77.