I chuckled....I realize I was dense, it was because I've never bought warrants before, and so I was looking at them as a vehicle that would one day either be converted or that they'd expire worthless.  My epiphany or "aha moment" came when I realized they're trading pretty much like call options...and I have played options before.  To be perfectly frank I wasn't aware that warrants could trade in of themselves...as a derivative.  

If things work out and RVX moves over $2.05 and beyond, then I'll almost certainly just sell the warrants I now own, and not bother with the added time and expense of converting them.

Bear's hypothesis vis a vis future financing hinging on a +FA and complicated by the timing is also on my mind.  I had figured that the longer it took for the FA to be triggered, that the better it was.  My rationale was simply this....half the patients are dosed, half are on placebo.  If the placebo arm has MAC events occuring at close to the expected rate....but dosed patients are having far fewer (or ideally none at all) then I think reaching that 125 trigger would take longer.  

I know Bear has chimed in that longer isn't necessarily better....but I have it in my head that the longer it takes to reach the FA point, that the better it is for a thumbs up.  

Now I'm thinking about that Aug 28th date....and thinking BDZ's reasoning is very sound.  If the FA hasn't come out by that date, then we might just be looking at another stop gap PP like the B&B deal, and we all know how well that went over.