As always, another excellent post from you RVXoldtimer. Thank you for giving a clear and objective clarification of what actually happened and what was said.

For what it is worth in my now 11 year history the pattern with Don has become clear to me. IMHO there is usually some truth in what Don says but his job is to "dress up the bride" as best he can (hope that is not sexist). Any time lines he presents I multiply by 2 or more times. Just my own method of protecting my sanity. The scientists and trial management people know their stuff but we don't hear from them. At one point someone posted that it would be better to hear more directly from the scientists. This would probably only work if facilitated by someone like Bob McDonald from CBCs Quirks and Quarks because he manages to help the scientists speak in a language understandable by the broader public. The problem with Don's presentations is that he strikes me as someone who does not have a clue what he is taking about and on the things he should know, like financing and valuations, he seems to treat in a flippant manner e.g. back of the napkin valuations. So he does not meet either expectations of professionalism. That being said, it is what it is.

On the hopeful side, and I am always hopeful and long, the BT status would be a wonderful gift but my reality is that we are in for another long journey, short of a miracle that is. This is break through science in CVD and our last 2 trials were failures in terms the primary end points even though they did and are yielding RVX and academic scientists gold mines of new learning on BETi. It is a treasure trove almost too good to be true. Just image some of the biotech investments in which BPs have invested in hundreds of millions of $ and years of time only to exhaust all possible pathways in exploring their hypothesis and then abandon their trial drugs as having the wrong underlying hypothesis. Then think of us/RVX and Zenith with hopeful signals in ever direction we/RVX turn.

I believe that both trials failed simply because they were statistically underpowered and this was due to financial and time pressures IMHO. This is very unfortunate from an investor perspective. But at least now Don realizes that RVX needs a major partner. Not ideal from my perspective but the peanut is being pushed forward and that is the main thing.

I do believe that RVX and Zenith are being managed in an honest manner, with good effort and intentions to the best of the abilities of everyone in these organizations. They are clean from an integrity POV, bright and motivated. Turnover seems low but I don't have the facts on that. Don has kept the ship afloat for 20 years. Of course he has his shortcomings but from my perspective having spent 20 years in executive positions in large corporations I think better the devil you know at this stage.

One thing I do not want to see is Hepalink and the various Shenzhen groups that have emerged to take over this company unless there is a very significant bidding war.

Thanks again RVXoldtimer and GLTA.

Toinv