Agreed, Led.  Given what people are expecting to see in the short to medium future for RVX, I would have expected to see the warrants carry a higher premium today.  I tend to agree with others here that they offer an attractive alternative to get in on the action.  2.05 + the current ask of 1.99 gives a value of 4.04.  If we are already at 3.75 today, it's not much of a stretch for me to believe that we can get to 4.04 (breakeven) before 2021 when they expire. 

Am I missing something in my speculations?

masila