I've just spent about an hour or so trying to find out at what point Phase 3 results are disclosed to company insiders....I've come up dry. 

I've tried various search words, sometimes using quotations to narrow results...."phase 3" results requirments, disclosure rules, "when must phase 3 results" disclosure...too many variations to list here.  I've come up dry in my search for anything definitive.  

The question to which I'm seeking an answer is this:  Is it possible that DM and perhaps a few key other individuals, could they have been told by the CRO what the results are already?  My own opinion is that it is possible....but I can't substantiate or refute that opinion based on anything concrete.  If someone has something, please share.

What I did come across was a lot of legal documents surrounding lawsuits involving public biotech companies and investors.  And one things sticks out....there seems to me to be a lot of gray area with respect to disclosure rules, and perhaps to an even greater degree when it deals with Biotech.

I came across one article that explained why I'm searching for the proverbial needle in the BETonMACE haystack.  Phase 3 trial results are pivotal, especially for a company of Resverlogix's size.  BKC's excellent SA article spelled it out plainly, saying that with Ph3 success shareholders can expect to be rewarded, while with failure we can expect shareholder value to evaporate within a matter of seconds.  Long or short there's the potential to make a lot of money, provided you bet the right way...

So its natural to try and infer whether the announcement of a webcast Monday morning is a positive or a negative as it concerns the ultimate outcome.  And confirmation bias could lead a shareholder to view it as a plus for a positive outcome, while a short might very well conclude it bodes ill for the results.  

Just some late night thoughts.  As luck would have it I'm going to an activity tomorrow with my wife and youngest son, one that includes a ride in a helicopter.  Luckily we're not heading out until 11am or so...so I'll get to see the open and 90 minutes or so of trading before having to tear myself away.  

I'm almost hoping RVX does get halted....it takes any decision making out of play.  Here's hoping RVX goes as high as the ride I'll be going on tomorrow.