Like everyone else I’m sure, I hope this loan with Third Eye closes. RVX as usual is in a somewhat desperate financial situation.  To me it will be most interesting to see what the collateral is. Personally I hope the collateral is in the form of pledged tax pools as opposed to IP. I think if the IP is pledged it will cap the ability for the stock to run prior to BETOnMACE read out as to me the risk of total loss will be too great and I think many retail investors will wait and try to ride the wave after a positive BETONMACE read out. On the other hand if the tax losses from the roughly $400MM spent on development can securitize the loan then I think the stock may start to run after the loan closes. 

Further to this, we don’t talk much here about the potential value of Apabetalone wrt CKD but I think there is a very good chance that at the very least BETONMACE, over the longer imbedded kidney trial, will show improvement in kidney function as in the post hoc analysis. That alone could be worth billions. To me this offers significant potential risk reduction and could allow RVX to remain a going concern without experiencing huge dilution in the event of a BETOnMACE top line miss, but only if the IP is unencumbered.  

JMO