I agree with what tada has just stated but I also think that there are other reasons the company share price so far isn’t rising up into ph 3 read out. 1) this is still a new area of science and Apabetalone is the first chronic use epigenetic drug this far along 2) the share price is so low compared to where it could go with successful ph 3 that I imagine many potential new investors are thinking they can wait and watch until success is announced and then pay more with the expectation that the share price will still have more room to rise. 3) management has regularly failed to achieve self set business targets so many investors currently looking at RVX as an investment may be inclined to join the wait and watch club. 

I agree with tada that RVX is tightly held so the flip side of the above of course is that if there are a large number of potential investors waiting and watching, successful BETOnMACE may bring on a massive price and volume spike. At that point managements past failures will be largely irrelevant as Apabetalone will be “worth what its worth” as a drug with a very large market. All JMO