Its good news, this isn't news about some investor dog and pony show.  

Imagine if maybe we'd jumped to say $2.60 shortly after the opening bell....then a bleacher bum moron like me goes on investorshub, stocktwits, twitter etc.....

$RVX.TO $RVXCF moving  higher on news, check it out:  https://finance.yahoo.com/news/resverlogix-announces-upcoming-presentations-clinical-110000917.html

Maybe a few people decide to dip a toe....but as we've seen, short sellers have been selling shares they can't even locate lately.  So put yourself in the shoes of someone who is short already, say 250,000 shares short.  If the PPS keeps moving up you're gonna have to dig into your pocket again to fund your margin account.  

IMO the rationale is simple....RVX is thinly traded, so whatever bids are there, take them out....short, naked short, whatever it takes.  Drop the PPS and hope that scares some into selling.

Again, all jmo of course.