Ha ha...so true!
This is a classic sign of a technical clearout. We have not seen this many shares traded in a single day since 2013, when the Phase 2 results were announced. All because the company is going to dilute us by maybe 5%?
The only possible explanations are that either (my preferred answer) people did not do their home work (RVX always needed capital; not sure why people would assume that nothing would be raised till August), or they smell a rat (someone somehow knows something about Phase 3 results that we don't), which is hard to imagine/believe.
But hey, that is markets for you...no lack of jittery hands in front of monumental developments in just a few months.