Hi jonzobot,
"If a majority of shares are held by a few key insiders (I don't know the actual numbers off hand), couldn't they coordinate to sell a majority (or close to majority) chunk of the company to a hedge fund or pharma?"
No, insiders can't do that without including us in the deal too, imo.
"Alternatively, if they can drum up majority support to replace management, wouldn't they do so if the key insiders felt management was failing?"
There's the single most bewildering head-scratcher for me. Why aren't Hepa, ORI and Dart getting together and doing something about this CEO's performance issues? They can't be happy! Can they?? Dart appears completely out of the picture in supporting RVX for some strange reason despite the FDA BTD and immense potential. Could it be that Hepa's hands are tied somehow and can't or won't vote? Have they all lost all hope and can't bothered to deal with a CEO search? It makes no sense!
Again, I welcome any insights or speculations here.