The FDA BTD news came out Monday before the bell and the PPS opened at $1.44 and climbed as high as $1.53 before closing at just $1.33...and it pretty much stalled at this level all week long, trading between $1.30 to $1.42 after that initial bump.

What prevented the PPS from moving past $1.53 and climbing even higher? 

It may have been shareholders deciding to sell the news....that's certainly a valid opinion with solid rationale.  But I don't discount the possibility that short selling might have kicked in to squelch the upward move.  I'm not saying that is what happened, just that I consider it possible.

Short interest had dropped to ~356K for trades settled up to Jan 31st....after having gotten up close to 1 million as recently as Oct 31st.  The positive side of short covering is it suggests that Bears are viewing current levels as a bottom...the down side is that, with RVX being so tightly held, it opens up the possibility of a re-load.  

Who knows? 

If RVX had gone from $1.53 and then climbed to $2+ it might have attracted some attention. 

'Why's RVX up so much?  Breakthrough Therapy Status from the FDA???  Does that mean it could be a buyout candidate?  What's the PPS now?  $2.25?!?!  Dang, maybe I should pick up a few thousand shares before this thing takes off even more'.....

We don't get the next short update until the 20th of February by my read....and that will be for trades settled up to Feb 15th.  Hopefully some more positive news comes out before then however and sends the PPS soaring thus rendering this entire speculation moot (or mute if you prefer to think of it as being incapable of speech).  

Cheers.