Bravo BDZ....this is why you're everyone's go to guy when it comes to thoughful analysis.
I would add just one thing though....your bang on analysis not withstanding, this may still prove to be that little nudge that gets the RVX $SNOWBALL$ moving....just an almost insignificant little push of news is all a stock needs sometimes. I've seen stocks move on news less signficant than this.
I think we all agree that, based on the potential...that RVX is trading at an incredibly low valuation when compared to other developmental Bios at similar or even earlier stages of clinical trials.
In my own opinion (whose else would I use anyway) I don't think a MC of $500 million is unreasonable given the potential.....if RVX succeeds with just one target, then the MC could easily be billions, and if it succeeds at 2 or more....then it could be 10s of billions imo.
So yes this news may not be of great significance....but then a MC of less than 200 million CDN is not very significant either....maybe this will prove to be the start, something small that leads to bigger things for the PPS.