I also watched the presentation yesterday. To me it was the usual optimism and excitement floated out on a cloud of hot air. Obviously the market feels exactly the same way. 

I was more than a little surprised that Don would say that management was shocked that BTD did not result in a 4-5 fold share price appreciation (that would have resulted in a $5-$6 sp based on the price of around $1.30 in February).  We all know what previous BTDs have done for other, generally much better run companies.

RVX unfortunately is about as far as you can get from a well run company and has rarely (if ever?) come through and accomplished any stated corporate goal. No surprise that the market doesn't stampede into a company where management has no record of achievement, there is no clear path forward financially, thus operationally and the company has a history of moving from one desperate financial state to the next despite having world class science. I would say that if a company like Esperion or Trillium were to receive a BTD then you would see the multi-billion dollar market cap appreciation we have all read about, but those are very well run companies which manage to generally hit targets and give clear, meaningful guidance. RVX management is clearly nowhere close to the caliber at those companies and consequently gets the level of market respect it deserves. Sadly we shareholders suffer the consequences. 

I am also a little surprised that Don continues to offer up the fact that he talks to Hepalink, as he says, almost every day. To me that paints a picture of a major investor that has very little confidence in the ability of management.

The BoM trial results, the huge potential market, the BTD and the fact that Hepalink continues to put money into RVX still gives me confidence in the science and to me supports the idea that the science is currently grossly undervalued. That is why I remain invested despite underwhelming management. I really hope that management finally comes through and we get a deal as per option 1. To me putting the go forward for Apabetalone into reputable, competent business hands is the quickest path to share price appreciation for investors and the quickest path to getting Apabetalone into the hands of patients who are in need of this drug. JMO