Fuzzy, I could be misinterpreting but, you had seemed to take it as a bad sign that the ph 2 covid trial has not been halted early. Just my impression but it seems to me that in general only ph 3 trials are stopped early for efficacy. Probably because they are larger and therefore point more conclusively to efficacy. I could be wrong as that is just my observation. That is however what happened with Veru, their covid ph 2 from start to primary conclusion was almost exactly 6 months and then ph 3 was larger and stopped early. 

Regarding the tax pool discussion, their real value to a money making pharma/biotech is pretty much where the market cap sits right now if one assumes a 20% tax rate which I think is about where corporate rates are right now for large corporations. I could be wrong. The real value of the credit is the marginal tax savings when the credit is applied to profit.

I have been wondering for a while why RVX's allegedly creative management has not monetized the company's tax pools. To me the opportunity exists to perhaps make a creative deal involving the monetizing tax credits in exchange for the issuance of warrants and a small private placement. Again to me, management should be working on such a deal with the big pharma we are always told they are talking to. I would think a win/win deal could be struck with say Lilly or BI (co-owners of Jardiance) where RVX sells $500M in tax credits for a somewhat discounted value and at the same time the BP spends a portion of their face value discount on a PP for shares and warrants. Once an IB like Rothschild started to put this together the share price would rise before we heard about it and RVX might be able to do the PP at a price more reflective of the value in the company. The deal would then likely support an increased share price of the company because 1) the company would be in a much better position financially 2) a BP is now shown to be interested and 3) with cash and it's promising IP RVX is a legitimate going concern. This is win/win if RVX can raise significant funding and a participating BP can obtain an investment that may pay off handsomely and useable tax credits that effectively pay for their participation. In this kind of deal I could see RVX fairly easily raising $50-70M.

Who knows perhaps (hopefully) management is working on this and is not just totally consumed by what is in front of their face. Basically over looking dollars to chase pennies, which in my opinion has been their general course of action.