Re: Stock Alert
in response to
by
posted on
Feb 10, 2018 02:14PM
Toinv, I couldn't agree more with your assessment of our CEO's deficiencies. I would add that his business strategy of band aid financing to avoid dilution has probably created more dilution than it has saved because the market has never been given the relative certainty that RVX is a going concern with a visable future. This has resulted in what seems to be a permanently pitiful market cap which in turn return results in further excessively dilutive finanacings. I recently looked at the Esperion StockReports+ report (Thomson Reuters) and the 10 biotech/biomed peers of ESPR had an average market cap of 2.0B USD with the low market cap being 1.6B USD. With RVX's current market cap of 297M CAD management should be ashamed of their total inabilty to sell this science to the market. With these metrics, if you were to say as a corporation that RVX was average as an operating company in ESPR's peer group then it means at this level RVX is doing financings at less than 15 cents on the dollar. Pathetic.
Additionally, I can't get over the fact that RVX is once again delaying the start of the kidney trial. Given the huge opportunity in CKD and the very promising early results pertaining to eGFR, ALP and vascular calcification I don't understand why this is not a huge priority. To me either getting a partner for this or doing a small dilutive financing would be preferable to the current inaction. Getting this trial started ASAP would illustrate to the market that RVX has more than one legitimate opportunity for success and is capable of more than just talk about expanding on its' opportunity base. JMO