While I am down for a zero value in the contest, of course the zero was arbitrarily given since I suggested people be grounded; but I guess most of you did not go through the 2007 & 2010 meltdowns with RVX. For those who did, you probably understand my caution; of course, I am still hopeful for RVX, just cautiously so.

Anyways, RVX feels like a never-ending maze, with bits and pieces that should connect but don’t. Maybe just the lifecycle of a start-up bio-tech or not. I was thinking of some of these dots, since we likely now have a much longer time to wait for the topline results then we envisioned 3 months ago or for that matter, even a week ago. Here are a few that jumped to mind.

Medison Licencing Agreement

In January 2018 RVX entered into a licencing agreement with Medison for apabetalone in Israel and the Palestine Authority. Yet there was no licencing fee? Was this a gift to Medison for helping with the testing in the early days, a desire to release news that any Pharma would even want the rights or is no fee standard for this region?

Hepalink Licencing Agreement

In Oct 2017 RVX entered a first right of refusal with Hepalink for the US rights for $8mill, with that right coming due April 15, 2019. I think we would surmise this fee was a funding objective for RVX, but for Hepalink, was it just an investment that they hoped would be assigned to a Big Pharma for a large profit or do they want the U.S. rights, which seems like too big a step for their size? I think we all assume the April 15th date will be mutually extended.

Dart

Was this a petty cash speculative investment as he was into this space at the time and he has lost interest and is just riding out his investment or is he still keen on RVX? He has gone sort of quiet.

Rothschild

Rothschild & Co. was announced this July as RVX’s financial advisor to evaluate a potential U.S. listing. I and others have discussed the timing of this announcement and what it really means. It is possible RVX truly thought topline results would occur in early 2019 and thus they wanted their ducks in line or maybe Rothschild behind the scenes has assisted in engaging BP should the results be strong? Who knows, multiple dots could connect here.

Third Eye

Did we miss something in the agreement that allowed RVX to escape the covenant that conveyed their IP? I don’t believe for a moment Third Eye would risk capital where it could reduce its risk without a reason. But is that reason legal or do they really believe in RVX? While possible they believe in RVX, they could believe through their warrants and have no reason to risk capital, so we must have missed something in the agreement.

Lack of Transparency on MACE Events

Discussed ad nauseum, one can only assume there are proprietary reasons for this lack of transparency or in the end, it is just standard practice in the industry.

Big Pharma Lack of Interest

This has always been befuddling to long-time holders. Why did a BP never step forward even for a staged deal? At this point, it clearly makes sense for them to wait out the topline results, but if any really think RVX has the goods, they seemingly could have picked it up by just funding the trials with a staged or licencing deal.

I am sure there are multiple more dots or unanswered questions.