Opinions are welcome here as we all know...and I for one welcome opinions that challenge my own, because I know that an investment in Resverlogix comports a lot of risk...

With that being said I have trouble seeing RVX trending down toward $3.50 over the near to medium term ahead of top-line, and I will explain why.

You mention profit taking and short selling as a means by which this could happen.  While I can certainly see some profit taking occuring....I have difficulty seeing sufficent enough short selling happening this close to the finish line, certainly not enough to knock the PPS down over 20% from today's close.  

We all saw what happened last summer when short interest got to just a meager 1.6 million....it resulted in RVX showing up on the TSX Buy-In list because short sellers were failing to deliver the shares they were selling....naked short selling in other words.  Shorts got squeezed and the PPS started to climb rapidly last summer when that happened.  

The profit taking side is certainly possible in my opinion....at that point it becomes a matter of whether or not there is sufficient interest on the buy-side to soak up the supply of shares being sold.  I believe there will be....included in that I believe would be the players (or player if its just one) behind the 300+K that were short up to April 30th just passed.

Risks do abound here....we shall see how it plays out the rest of this week and on into the weeks leading up to the news we're all waiting on....I hold to my opinion that if BETonMACE hits all its endpoints for RRR, CKD and Cognition....then I see us heading to a USD Mcap of $5 billion+ which would mean a massive jump in the PPS regardless of whether we're trading at $3.50, $4.50, $7.50 or even $10

Cheers.