BP used to buy biotech companies if Phase 2 results came out acceptably good.  Sadly for such BPs...too many subsequent Phase 3 results disappointed.  Now think of your position as the CEO who signed off on a few hundred million dollars on a Phase 2 drug that bombed.  What is your board gonna say?  Hmmm...we need a new CEO!

So what is the learned behavior of such CEOs now...I will buy it once there is NO risk.  Good phase 3 results, acceptable NTT #s etc.  I would rather pay a few billion dollars...and not have my board call for my head...than risk my career on buying a specy biotech company.

In RVX's case, don't forget that RVX did not exactly cover themselves in glory by mucking up the Phase 2 trial.  Imagine trying to explain all that to a BP board...yeah, I am gonna buy a biotech company whose share price is down 90% coz what they thought would happen in Phase 2 did not actually happen.  

Finally, RVX itself is now so far gone down the independent route (not counting our Shenzhen friends of course), that it is BP that needs to come running to RVX...not the other way around.  

Wouldn't you say that is a good position to be in?  As for the last chunks of change that RVX needs...my 2 cents is that if RVX has managed to coax all those mighty dollars out of Shenzhen, DART fellow and god knows who else...what is a few million dollars between friends, eh?