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Message: Is spproval of the $87 million HL invesment a slam dunk?
Sometimes I write a blog post ahead of time, in anticipation of publishing it later. That's what I've done with Hepalink's $87 million investment, I've written the blog post and now I'm just waiting on news that its been approved.
Given that the Beacon Analyst report includes that news, it seems that approval may be just a formality at this point. The author isn't just a PHD, he also has an MBA which means he has better Bona Fides than I have, exponentially better, both on the Science and the Business side.
The news of HL's investment came out on October 13th, so I'm assuming we have to be close to getting news on it being approved....or not approved as the case may be, although I'm becoming more and more convinced that it might just be a rubber stamp that we're waiting on.
Here's the post I've written for ATB in anticipation of approval.
Chinese investment driving Resverlogix's meteoric rise?
Shares of Resverlogix have been experiencing a steady climb of late. After closing at $1.30 on October 31st 2017, it seems the Halloween ghosts and goblins scared all the bears away and as of this writing shares are now trading at $#.## for a gain of ##%.
What's behind it?
Investment from China may be driving some of the interest. Shenzhen Hepalink is investing $87 million CDN into the company, which will give them a 43% stake in this Calgary Biotech. Resverlogix's lead compound is Apabetalone, and it is currently in a Phase III clinical trial called BETonMACE which is aimed at proving that Apabetalone in combination with Statins will reduce the time to Major Adverse Cardiac Events versus treatment with Statins alone.
$87 million might sound like a lot, even in Canadian funds, but for the founders of Shenzhen Hepalink it probably isn't a huge sum. Not after that company went public back in 2010, which made Li Li and Li Tan the richest couple in China at the time.
Shenzhen Hepalink is reported to be the world's largest producer of Heparin, a blood thinner.
And Shenzhen Hepalink isn't the only big player with a stake in Resverlogix. Eastern Capital, the investment arm of billionaire Kenneth Dart is also a major holder, along with NGN Capital and the company's CEO Donald McCaffrey.
In Canada Resverlogix trades on the TSX with the symbol RVX. In the United States shares trade OTC with the symbol RVXCF.
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