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Message: Re: Market Cap Context
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Jul 03, 2019 10:45PM
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Jul 04, 2019 01:19PM
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Jul 04, 2019 02:19PM
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Jul 04, 2019 04:01PM
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Jul 04, 2019 06:39PM
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Jul 04, 2019 07:49PM
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Jul 04, 2019 10:47PM

Good post tada, my view slightly differs from yours in two respects. 

1)I don’t assume that Eastern/Dart have lost any interest in RVX just because their direct ownership has been diluted. I think they saw a clear opportunity to maintain a large position in RVX while at the same time vastly reducing their risk when they decided not to maintain the LoC guarantee. Don’t forget they also own 40+% of the RVX royalty preferred stock through their ownership in Zenith. In my opinion just smart investing. 

2) I think RVX management could have done a much better job of sharing the RVX story and there are a number of analysts who can very well understand the science and the opportunity inherent to RVX, management failed to engage them. Water under the bridge now but if management had done a better job all of us, including management themselves, would have experienced less dilution over the years. On this board we have compared RVX to Esperion and I have always viewed Esperion as a well run company.  For comparison in 2013 ESPR IPO’d with roughly 14M shares outstanding and today have almost 27M shares outstanding. About 92% dilution. During the same period RVX share count went from about 74M shares outstanding to the current 204M shares outstanding. About 175% dilution. To me this is largely a reflection of the relative quality of management and management’s ability to engage the market. 

Inspite of management I still view the science at RVX to be potentially world changing and like you hope we are all sharing in a successful conclusion to BETOnMACE.

JMO

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Jul 05, 2019 10:54AM
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