I was as annoyed as anyone with all the communication blunders made by the company going back to at least this past summer and all the way into the fall.  After reflecting more than a little I'm gonna let it all go now.  I still don't like simple mistakes, but even if the company had done everything perfectly, I think its reasonable to think the PPS today would be pretty much the same as what it is right now.

Heck, I think it could be even lower if the Don and Clayton had dotted every letter i and crossed every t.  

How so?  

Even at less than $2 RVX attracts some attention from the sharks in the market waters.  Sure they'll toss a few million to a company like Resverlogix, as happened in June with the BB arranged offering, but there's a big cost.  Short the shares, grab the warrants and scalp a very nice profit.  So what if it depresses the share price and hurts the company's efforts to raise capital and bring a potentially ground breaking drug to market....profit is profit and money doesn't have any morals.  

I wasn't around in the early days....but I believe back then that there was some more traditional underwritten share offerings from the investment banking types.  Even those avenues are good only for a limited duration. 

The investment banking firm underwriting a secondary has an incentive to talk up an issue like RVX, to engage their partners and build some excitment.  But once those shares have moved into the hands of retail investors, the incentive to move the PPS higher and get the herd all hyped up and buying is gone.  There's still money to be made of course, but it involves shorting that same stock down....demoralize all the moron longs who bought high by tanking the PPS and get them to sell back low.

Get apabetalone to the finish line and if the end result is an approved drug....the journey with all its ups and downs will have been worth it. 

The current PPS is meaningless....at least to me at this point.