I hear ya RVXOldtimer ... I don't think a "good enough" deal has been presented either. Those type deals usually tie in longer term rights and options (as consideration) for the BP, which may have been low-ball compared to the potential future value. If you are a BP looking at an intersting tech/company, that appears to be cash strapped and likely to fail financially, you offer a low-ball "out" for some security and realized value versus a real likelihood of failure and nothing-ness from 20 years of effort. RVX is demonstrating (or attempting) that they can do it on their own, risks and all. In dating, she may start talking about dating other people while waiting for the ring, to motivate you?

Fortunately, we do have options which are being demonstrated. The further we can de-risk, and show higher likelihood of success, the better. I mean there "could" be a $1b-10b+ range of future value as part of partnering deal, and the further this goes along in a "forward" motion, the more that potential discrepancy narrows. Perhaps, at some point in the next 1-2 years, as the picture comes clearer, both sides find a comfortable and "happy" place somewhere in the middle?? Both sides assume/accept risk, in their decisions to move forward now, or wait.

Just tea leaves, no inside information, but it is a game I have seen a lot in the medical industry, even as a participant a few times. It can be a real test of your beliefs, and nerves.