Narmac, I guess it depends on your definition of desperate but I don’t feel picked on :) In any event to me the long term level of financial need as a result of short term thinking can be measured by the overall level of dilution and the nature of financings done.

Take RVX vs Esperion RVX IPO’d at about 30 million shares outstanding I believe, Esperion about 12 million I believe. Currently RVX has about 270 million shares outstanding undiluted and and a market cap of about $300MM CAN, Esperion about 26 million shares outstanding and a market cap of just under $2B USD. Both companies have experienced some bumps and to be fair the one RVX bump was larger than any Esperion bump but I would still say inspite of that the main reason that Esperion is in better shape and having 5 study read outs in 2018 is that their business/financial planning and execution has been far superior to RVX’s. Esperion has always been well capitalized and to my knowledge has never delayed a trial due to lack of funds. Great management vs average to poor management.  To me the BB financing was a clear case of desperation financing, they might as well have stuck a yard sale sign on the RVX stock.  That being said I’m thankful for the opportunity to sell stock, buy double to triple the number of warrants and take cash off the table.

JMO