Who knows if they're in a blackout period but the market certainly is putting zero stock in Don's words. I guess that's what happens any time there is consistent long term talking with very little achievement.

I think the general idea of Zenith selling a royalty on Zen3694 and using some of the proceeds to fund the RVX trial is probably a good one but I think the market (RVX shares)  would only reflect some anticipation of this if there was a capable CEO working to facilitate such a transaction. Certainly not the case here IMO, and certainly no belief in management to be found in the market. If someone like a Jan Skvarka was leading RVX and Zenith I'm sure with all the opportunities present that the market would be valuing RVX at many times more than a fraction of it's value as a total loss. Zenith would likely not be doing deals valuing it at less than a number of pre-clinical biotechs. 
 
Don likes to blame the biotech market in general but while many biotechs have been hurt by general market malaise in biotech there seem to be very few with stories like RVX/Zenith that have close to the same dismal market caps.