Hmmmm, this looks...intriguing at least.  All bolding/emphasis is mine:

From page 3:

"The increase in NPV value was partially offset by anticipated higher R&D expenses and increases in net debt as Resverlogix pursues additional trials in renal and advanced chronic kidney disease..."

http://s1.q4cdn.com/460208960/files/News/2017/June-14-2017_T.RVX_Vandermosten.pdf

Was the author of this report anticipating an increase in the debt load?