Since January 1 of this year RVX has released 6 PRs along with some mandatory filings (financial statements, etc.).  In addition to that DM participated in the Jane King video a couple of weeks back.  The only thing RVX haven’t commented on is the state of their finances which has been a sore point to many shareholders.  However, short of abandoning every advancement made in this science over the past 15-20 years I’m betting that they will somehow get over it.  To that end I thought it might be useful to reprint part of the conversation that DM had with Jane King in the video as regards RVX’s future plans.  I’m reasonably sure that this question wasn’t random and that DM was prepped for answering it but his response is noteworthy nonetheless.

Jane King:        Where do you plan to take the company this year, and then maybe next year as well?

DM:     Well it’s been a fantastic year for us believe it or not, although it won’t show in the stock until this whole economic crisis is over.  In January we were granted FDA Breakthrough Therapy Designation.  That is the highest designation you can get.  It fast tracks the program, it allows us to work cooperatively in designing the final programs with the FDA, there’s some tax implications and other things.  There’s only ever been 130 drugs ever awarded that designation, and none have them have been in major programs in cardiovascular so, for us, it is definitely a huge breakthrough and it allows us to validate our technology with pharmaceutical partners that we’re working with, so we are in some co-development discussions for our final round and market launch with apabetalone…..and, uh, we will be co-developing from this stage forward with a major pharmaceutical company.  So it’s been a very exciting year…..and then of course the whole Covid thing, I just about fell over when I read that list, so we were pretty impressed.

Also, someone on this board (I can’t offhand remember who) posted an exchange they had with DM on the Covid-19 partnering, and that a couple of labs were interested and that data on some initial testing was still a few weeks away.  Hopefully that will produce some positives that will put RVX into the spotlight.

So, it does seem that things are happening, and even in this twilight zone environment.  It is also very possible that RVX was/is eligible for some government funding that helps keep things going, as has already been suggested on this board.  I very much doubt there are many employees going to the office these days and it is likely that some have been temporarily laid off and are collecting government benefits.  These things are no doubt being managed in the same manner as they are with most other companies.

I’m not overly concerned about the adverse impact of contractual agreements (i.e., the Ori fund loan) since these things can and almost certainly will be amended accordingly given the unusual environment we are in.

Finally, the need for innovative drugs to treat diabetes, cardiovascular issues, dementia and kidney function isn’t going away because of Covid-19.  So, I’m still hopeful that RVX and apabetalone will have a positive role to play in addressing those issues over the next year or two.  An announcement on a major partner will certainly put a lot of fears to rest and in my mind that is the next thing that shareholders need to hear, and the sooner the better.

P