Lots of excellent points being made but we need to get some action/hear a status re Covid trials.

I've been scratching my head trying to reconcile what is happening/NOT happening at RVX and Zenith. When I bought shares in RVX 11 years ago I thought I was buying into a business that eventually had some chance of earning money or being bought out for shareholder ROI.

However whenever I try to explain RVX as a business to myself nothing makes sense. If it was a business there would be a highly competent and experienced BOD with depth and breadth of experience in biotech business, financing and science. The CEO would have been replaced many years ago.

However if I think of RVX as a club started by Dr Wong (a respected physician and scientist) and Don (a whatever???) back 21 years ago then the current situation makes some sense. Dr Wong has been  successful in attracting talented scientists internally and in the larger biotech communities to help move their mission forward. I recall from posts on Stockhouse many years ago that it was Ken Dart's (Eastern) respect for Dr Wong that enticed his investments in RVX. Eastern has hung in and eventually backed the very large loan via Citibank to RVX which kept the ship afloat for a few years.Then, I believe it was Hepa that was brought in to take a position and pay out the loan.

Eastern is now dormant but still big.

Most of the business side deals such as the Medcine (Israel) deal have been mediocre at best and there has been a plethora of micro financings at discounted values that plugged the leaks in the hull and diluted share value.

So why hasn't a competent CEO been brought in and why hasn't the board been restructured?

It's a club. Everyone that is brought in is vetted to insure their loyalty to the team. Scientists on the team would rather spend their intellectual energy on science rather that ponder thorny business issues. The rank and file scientists and other employees will remain loyal as long as the sugar daddy trickles in enough money to pay salaries no matter the quality of the fund raising.

However, like most things in life, nothing will change until a crisis hits. Also, ORI will want their ROI at some point and Hepa will want some kind of rewards at some point. 

Perhaps change will come. Now if the Covid trial is a blockbuster it's an entirely new game of course.

Well that's just my opinion and it helps me understand the strange nature of the business dealings at RVX and Zenith. It is what it is.

GLTA. Happy Easter.

Toinv