You are absolutely right. Nothing has changed on the scientific front...if anything, the company now has a publication in a top tier scientific journal with a 15 impact score.  

The reality is that if you don't believe that Apabetalone does a bloody good job in supressing BRD4 and that suppression leads to all kinds of wonderful things (cardio vascular disease, renal etc.), you should not be in this stock.

Re the recent share price, it is quite puzzling why the market took it so badly.  I suppose investors were surprised that the company went out to investors, and not to our usual suspects in Shenzhen.  Strange things happen in China, so I am assuming this is not because of Hepalink's willingness to invest but their current ability to pay up.  Do note that like Fenix here, Shenzhen Hepalink is in it for the science bit...that is what Li Li understands best.  

Once we are done with the raise, I believe we go right back up.  This is purely a financing issue, with little relevance to Phase 3.  Like most biotech companies, RVX has lived hand to mouth for all these years.  It has managed to raise capital all these years, in the face of sustained skepticism in Canada.  Like the Makalu report explained, the market "forgot" about RVX.  Heck, its share price was just $1.1 less than 12 months back.  

The deal itself is fantastic for those who can get in.  There is no hold and you get a second share for a song, if the Phase 3 is as good as what we expect it to be.