fouremm, I strongly agree with the perspectives you have provided in this post and it becomes very clear with your comparison to Esperion.
The science seems to be in excellent hands and there have been tremendous resources in terms of analytical tools and expertise brought in to understand the MOA of rvx-208 in the past 2 years.
One of the problems we have is that Don pays himself $500,000 per year. This is a governance problem. IMO he should be paid $150,000 per year with $350,000 divided up in terms of performance milestones. For each milestone he achieves he gets a portion of the $350,000.
One of the milestones, even at this stage of the company, should be shareholder value. So, as an example, if Don achieves a NASDAQ listing he would get, let's say, a $100,000 incentive to then take his compensation to $250,000.
Right now we have a little Alberta company that is a potential "Mighty Mouse" of epigenetic science re CVD, DM, inflammatory diseases, CKD, etc but it is not even on the radar of the biggest investment country in the world - the USA! Who cares about the TSX! AND what we have is a few billionaires that see the potential for a blockbuster drug that will sell worldwide but ZERO awareness by the many thousands of venture capital investors in the USA.
On one hand I might say that Don is the quiet, introverted leader with a steady hand on the tiller but that would not seem true because of his careless statements.
The communications that comes out of RVX requires the likes of a BDAZ to translate the power of RVX science into meaningful language for investors. I've said for a couple of years that this is a company with big stories to tell but they seem completely incapable of getting the message out.
What really bothers me is that here is a company that over a 15 to 17 year period has taken a drug from the laboratory to phase 3 BETonMACE trial approval in the EU. It is an epigenetic drug on the leading edge of treating DM patients with CVD and low HDL and complementing the LDL lowering statin, Crestor. It has rvx-208 + Crestor (rosuvastatin) patents in many countries including the entire USA. And yet it is grossly undervalued.
Of course FDA phlll would be a huge help.
I would like to see critical scientific feedback from all of the conferences they have presented at. What are the scientific perspectives on the post hocs?
A NASDAQ listing would be a huge lift but I'm not even sure Don knows how to approach them for a listing.
Anyway, just my rants. DYODD
Cheers
Toinv
