Toinv - Good points. I thought about another one as well.
Since Hepa has manufacturing and distribution rights in China and area via a contract already and the diabetic rate in China is very high and (increasing at the highest rate in the world?), maybe there was some influence from the Chinese government to keep this thing alive because of its potential to help solve a national problem. The fact that if the company was sold and Li Li made a few billion in the process would just be the icing on his cake. Hepa has that regions rights by contract no matter who owns the company.
Your point 4 has a lot of validity. The risk still seems to be to high for all pharma companies at this stage or we would have been taken out already. There is so much potential with this drug and all of the other IP within RVX that it may be wiser to keep other investors and their money, along side to reduce Hepa's risk.
DYODD
tada