RVX July 2 2024

Just for a bit of fun Narmac I went back to the Feb 4th, 2021 corporate update to refresh my memory and provide a bit of context and fun.

There were two options for BoM2.

Option 1 – Five Year Plan

Details Options Presented by and Discussed with Major Pharmas (I’m not sure I believe this part. It was probably made up by Don and company… IMHO.)

• 2021 – enhancing chemistry
• 2022 – enrollment to commence mid year
• 2024 – interim analysis
• 2025 – final completion
• Cost - $200,000,000
• Financing – to be paid by the Pharma in partnership agreement
• Patient Population Size – 10,000

Option 2 – Two Year Plan

Planning details between Resverlogix and various potential partners.

• 2021 – enrollment H2 2021
• 2022 – interim analysis
• 2023 – final analysis
• Cost - $70,000000
• Financing – to be paid by the Pharma in partnership agreement
• Patient Population Size – 3,600

Of course neither of these scenarios were executed, but in hindsight it is easy to see the absurdity of Don’s proposals. I think these were both ficticious ideas meant to appease shareholders at the time.

I believe, after 10years of listening to Don’s nonsense there is not a hope that this management team can possibly move this biotech forward. They do not even seem to be seeking the help that is readily available and that they desperately need.

To even entertain the idea that this group of management clowns can do some sort of license agreement with zen3694 is completely absurd…it’s a comical farce. They do not have the business skills. That has been evident for years.

If a reputable BP says they need 10,000 patients, 5 years and $200,000,000 to do a proper trial then any idea of a royalty deal to get a trial done is a joke.

The only responsible thing to do is to sell RVX or find an actual partner.

Now what about the science? Previously I assumed that RVX has pitched to the major BPs. However, Don stated in a presentation that it was very difficult to get a pitch with BPs. That being said, given that RVX has had 40 scientific publications, many with respected journals, I’m going to guess that all of the big BPs are aware of apabetalone and have studied it’s science.

Then, why no bights? It could be that RVX is asking too much in terms of money and contract terms but I doubt it. At this stage they must be desperate or incredibly stupid. My guess is that there are problems with apabetalone in terms of implementation, the profit model or the actual effect of the drug. I would imagine that the BPs have studied the scientific publications of apabetalone and they do not feel it is worth moving forward.

My only hope now is to have some fun dreaming;

• Perhaps some investors from Qatar will invest $150,000,000 to get trials moving.
• A BP does CVR a deal with RVX with a large up front payment and significant milestone payments,
• Perhaps a buyout.

GLTA because only a miracle will save us.

Toinv the cynic.