I wish I could put up the 6 month chart...but it is what it is.  What it shows is solid support in and around this $1.30 area going back to June's overnight financing that sent the PPS plunging from up above $2....

It seems like every time there's some good news, we're hit with a but.  The overnight finanicng itself provided some desperately needed capital, "BUT" it was at a discount to the market price and included warrants which allowed participants to engage in, (what is a apparently) a very common practice of going long on warrants while shorting the stock.

BETonMACE  started dosing patients in Taiwan/China BUT it served to remind us that, despite being almost 2 years into the trial at that point....enrolment was still lagging.  

The maturity date on the loan was extended, BUT there was a significant cost.

There's the $87 million from HL to retire the loan with a PP...BUT it has to pass regulatory approval and entails the company declaring itself to be experiencing financial hardship.  

Going back to that June collapse we've climbed off the $1.30 support area a couple times, but both times it didn't last.  I don't want to jinx anything, but I can't help but thinking all the possible negatives are already out there and very well priced into the current valuation.

The two biggest potential near term catalysts I see are finalization of the $87 million placement and the FA.  And assuming that both go ahead positively I can't envision any BUTS.....

Hopefully this Beacon coverage is just the start, and has brought some eyes to bear on RVX....now if some good news with no qualificatiions come out, maybe we can lift of this support area and not look back.  Announce the $87 million and the subsequent retiring of the loan, then give us a thumbs up on Futility.....and then ????

I might just have mused myself into buying some more warrants next week.  At 60 cents, if that target of $8.55 comes to pass, then they'll be trading at $6.50 + the time value of money premium.

Hope everyone is having a good weekend.