Couldn't agree with your post more TB and no one at RVX seems to have figured out that when you infuriate investors, many of them sell and in the process punish your share price.
Just listened to the presentation and if I'd known they were going to take questions I might have listened live. That being said I did submit questions as instructed but they weren't answered that I am aware of.
Generally the presentation to me was the same as usual, Don talking about all the science we are already aware of without saying much concrete about how that science is going to lead to value creation. I think it is indeed a great endorsement of the science that Eversana believes to the point where they are investing energy and money into the program with no guarantees of return, that we are aware of anyway. That still doesn't illuminate the financial path forward for investors potentially interested in the stock. Investors' primary concern is how they are going to get paid. Good on Eversana for stepping RVX through a remedial biotech management program.
I didn't find it a good look for Don to be whining about a bad biotech market and "myopic" shareholders. Twice the company has swung for the fences on major trials, finishing them with no cash in the kitty so to speak, leaving the company in a bad financial way with limited go forward options when the trials didn't hit their endpoints. Of course the market, especially a down market, is going to punish that type of poor management. That leads directly to "limited resources". Instead of being satisfied to make excuses and sit with the losers during the pandemic Don should be looking at Biotechs like Constellation, Trillium, Repare or Veru who during the pandemic collectively managed to profitably sell out or do very good financings and get trials done. Those companies all had/have good science but they had/have great management. In the time RVX has been talking and making excuses about covid trials Veru has successfully completed both a ph 2 & a ph 3 covid trial.
Talking about potential regional licensing deals, M&A or rights of first refusal isn't going to excite anyone in the market about RVX, we've been hearing about all that for over a decade with nothing being accomplished. Perhaps announcing a deal definitely bringing cash befitting of a company with BTD might spark some interest but more empty talk of "plans" won't cut it. I think this management team has squandered any shred of credibility it may have once had.
IMO the best short term fix for this company's share price as well as for long term success would be a new CEO with real biotech credentials. The science at RVX could likely attract someone with those credentials and one would think a reasonable salary and a few million options with an exercise price at current levels would be financially very attractive. That worked very well for Trillium in attracting Jan Skvarka. IMO Don would be far better suited to non-executive chairman, he deserves credit for getting the ball rolling years ago but the bottom line is that for a number of years little to nothing has been accomplished from a business perspective and that is not going to attract investors in the market.
