Spot on tada ... there is a "window" of opportunity, where the risk/benefit is in a sweet spot. A BP could take a BIG risk now in order to get it on the cheap relative to "potential" value, or wait and spend significantly more but with significant upside down the road and minimized risk. Obviously Hepalink has made their decision, but we have been talking millions rather than billions, so far. 

Positive top line for MACE (30% RRR?) will probably require a spend of 5-10 billion minimum, and maybe 15-20+ billion if secondary endpoints are exceptionally promising down the road with full data. For a company that could be a $50+ billion enterprise down the road, ... with excellent patent runway?

Gotta believe multiple conversations (and contingency discussions) have been underway for a while, just a game of chicken between RVX & BP's finding the value and leverage points. If you are RVX mgt, there is nfw you aren't having multiple conversations prior to top line. Maybe somebody will get nervous and jump the gun, in a way that makes investors smile? ... and if not an early "take out" you certainly want to be be ready, organized, and able to commercialize quickly within a year in anticipation while the FDA goes thru their 6-9 month approval process ..... assuming all of the safety & efficiay data is still supporting the FDA's stated "approvable path" based on study design and data success.

So, I gotta believe there are multiple simmering (and maybe even "near boil") pots on the stove with various contingencies, based on the varied potential of primary/secondary results. Everybody involved understands the market potential, and what it will take to commercialize, just not the study results and potential efficacy quite yet, and therefore the likelihood of commercialization/marketability ultimately.

Just seriously imagine 30% RRR, plus very positive secondary results ... oops, we already have contemplated those numbers ... at some point there is a number that feels safe to BP that makes RVX think that is good enough to avoid further risk and hassle, or the "bluff" of doing this on our own. Assuming good data, of course.

tick tock :)