Bear, what do you think is the size of the "narrow population" that BETonMACE will be allowed by the FDA?  I am assuming that Apabetalone will be a $1 billion drug very soon after approval...but this may be too optimistic in the beginning and too pessimistic later on...pretty much like Humira. 

Also, we have not discussed the CKD indication.  If BETonMACE is as successful as we expect it to be, won't any big Pharma company take that into account while bidding for the company or as a partner?  I think the chronic kidney disease aspect is probably far more lucrative than the CVD/Diabetes combination.  I assume that RVX will argue for a big value for CKD once BETonMACE delivers the results.

My concern is that even if BETonMACE is a 40% RRR, the market may not value RVX as high as we believe it should be...north of $20 and approaching $30.  If the population as "narrow" as you think, that could be the reason why.