A new Resverlogix report from John Vandermosten of Zacks Small Cap Research came out on 12/20/17 and gave a valuation of CAD $5.00. The previous report from 8/1/2017 gave a valuation of CAD $6.50.

http://s1.q4cdn.com/460208960/files/News/2017/Dec-20-2017_T.RVX_Vandermosten.pdf

Debt Overhang Eliminated; Target Price Down on Share Dilution

Based on our DCF model and a 15% discount rate, RVX is valued at approximately CAD$5.00 per share. Our model applies a 64% probability of apabetalone sales for indications in the BETonMACE trial. Our valuation only includes BETonMACE indication contributions from the US, Europe, & Latin America, as well as royalties from the Hepalink arrangement. It does not recognize potential from renal or orphan indications. 

OUTLOOK - Resverlogix Corp. (RVX.TO) began recruiting and dosing participants in the Phase 3 BETonMACE trial of its lead candidate apabetalone (RVX- 208) in high-risk CVD patients with diabetes in November 2015. We believe the trial will take approximately 3 years to complete, targeting topline readout in 2018. With a potential impact on multiple markers for CVD we are optimistic on a materially significant impact on MACE. The company has announced several successful early phase studies in DM and renal that are supportive of apabetalone s safety profile and point to expanded indications. At the current price, we view Resverlogix shares as undervalued, and in a position to provide long-term upside potential. We see additional upside from the realization of expansion into new geographies, the orphan disease program, and renal disease.