To me, it seems they are running out of cash and this 12 month loan agreement (with a minimum distribution of $10M, within 90days of execution) is a stop gap measure. 12 months from now they will have released the results of BETonMACE and will be working on a much larger deal. This coupled with the latest offering, will give them the cash to continue down the current path to completion. 

They will have a short 5 months to ink a licensing deal or partnership with a pharmaceutical company, or raise additional funds. Either way, one year from the closing date, some other type of funding will be required as it is estimated RVX will need $60-$70M in incremental funding to stay the current course.

I do not see the stock price jumping above $3 (on positive results) before a real manufacturing plan/partnership is developed/inked.  Shareholders will be diluted a few times more times before any of that will happen, hence the issuance of warrants on both these recent raises.

My 2 cents.

LONG RVX

84cj