P1 - Yes there are two companies. ZC owns the royalties and ZE. ZE owns ZEN3694 and a number of other patents plus another number of molecules, maybe around 2500. It is my understanding that some of the IP has already been moved back to ZC from ZE so I'm now unclear on which entity owns what.

As you speculate, if one compound is sold; Where does the money go? First off when one compound is sold it would be that molecule plus a few more that would protect that patent better, so something more than just one molecule. In your example you use a one billion sale price. It is my understanding that the most tax efficient way to get the shareholders the money is to issue a new share for each share of ZC owned, just minutes before the sale closes, transfer the asset being sold into this new entity and then immediately sell that new share. This would all be done behind the scenes and our brokerage statements would show a new share being put into our accounts and then the same day or the next day that new share being redeemed for cash. ZC may or may not retain anything.

IPO - Firstly the board is already different between RVX and ZC. To answer your question though, yes the boards could be the same for "all" of the companies.

ZE sells shares. I'm assuming you are referring to ZE doing a PP versus ZC. Good question. I will leave that to someone else. In my mind that one gets messed up. It is my understanding that we will hear more on cashing up ZE or ZC in the near future, whenever that is.

You could always phone Brad Cann the CFO and get the words from the horses mouth.

On another note it would now be 58ish weeks that the rockstar patients from the second cohort would be on ZEN3694 if they are all still having success. Good timing for your questions P1.

All IMO

dyodd

tada