Just doing some surfing and came across something interesting about another Canadian biotech called Correivio and their drug Brinavess which is for acute onset atrial fibrillation. 

What drew my attention is that both Resverlogix and Correvio reported news about the pathway to an NDA at about the same time.  In the case of Correvio it was on June 11th and it seems they're dealing with the same division of the FDA as Resverlogix:

• "In our most recent communication with the FDA, we asked the Agency if the Division of Cardiovascular and Renal Products would be willing to meet to discuss a regulatory path forward for Brinavess," said William Hunter, MD, CEO and President of Correvio. "We are pleased that the Agency has agreed to discuss Brinavess in a pre-NDA meeting, which we will seek to have in the fourth quarter."

Here's the link:  

https://www.newswire.ca/news-releases/correvio-provides-us-regulatory-update-for-brinavess-685116121.html

The PR also notes this is with respect to a "resubmission" which says to me that they already submitted an NDA and that is was rejected.  

What really pops out though is the market reaction.  Prior to this news coming out shares of CORV, which trades on the Nasdaq, were in and around $2.10.  The PPS shot up as high as $3.40 on the day the news came out and within 3 days the PPS was over $4, they're currently at $3.90

Contrast that with RVX and the reaction of the PPS after the June 14th FDA news about Apabetalone.  The PPS for RVX was already in an uptrend when the news came out, but it didn't cause as big a jump as with CORV.  RVX went from $1.80 on the 13th and only got as high as $2.75 3 days later before coming back down, and as we all knows its now at $2.36

So CORV is up 85% on its FDA news (from the day before to the current price) while RVX has climbed 31%....quite the difference.

Am I alone in thinking Resverlogix's news is of greater significance than that of Correvio?  The market is often wrong of course.

A couple quick notes though....I think the Nasdaq listing helps a great deal, I suspect most would agree.  And on top of that Correvio's drug is already approved in something like 40 odd countries, so while the company is losing money they do at least have revenue.  However their market cap is only $136 mill USD, while Resverlogix has a USD MC of almost $320 million.  

But regardless, if RVX was trading on the Naz I think we might have seen a much bigger pop in our PPS and maybe even higher than what CORV had.  If RVX had moved up and held an 85% gain from the $1.80 we were at before June 14th's FDA news, that would put our PPS up over $3.33 CDN.