** Shares of drug developer Lisata Therapeutics LSTA.O fall 30.8% to nearly six-month low of $2.44

** Lisata says Kuva Labs, the company seeking to acquire it, has not paid for shares tendered in the takeover offer after telling the company it was unable to secure enough financing - SEC filing

** Kuva agreed in January to buy Lisata, though the exact cash-and-rights structure was revised multiple times, and the tender offer deadline was extended several times

** The tender offer by Kuva Acquisition Corp, a unit of Kuva Labs, expired late on July 20

** About 6.1 million shares, or roughly 66.8% of Lisata's total outstanding shares, were tendered and not withdrawn, satisfying the minimum acceptance condition

** Lisata said all conditions of the offer had been met, but Kuva said it could not secure enough financing in time

** Kuva has not accepted or paid for the shares, and Lisata says it is now weighing its legal options

** As of last close, stock up 89% YTD