RE:RE:KD and Phase 3I remember Torpedoman saying this and if he was told the truth I think it could possibly partially explain why a deal is taking so long. Although it does seem to take a long time for pharmas to do a deal in general. If McCaffrey feels or knows he has a strong commitment from Ken Dart to the RVX program he may be asking for a larger upfront portion to a deal than a pharma may be willing to commit to at this time. What also may be an impediment to a deal now is that if a pharma believes that RVX-208 might be huge down the road and that RVX has support (KD) then there is plenty of room for them to wait for a more sure thing and just agree to a much larger deal at that point, when the program is more de-risked.
I think if I was in a position where KD was offering to take the program through phase 3, I would ask for the moon. If funding supported by KD was to be through an increased LOC in exchange for more warrants and perhaps more IP as collateral, the dilution probably wouldn't be as great as some here have been projecting. Most importantly the program moves forward with certainty and this would probably be reflected in the stock price. Would be REALLY nice to see some legitimate and CANADIAN analyst coverage if this route was to be taken as I think that would be the best possible third party affirmation for RVX.
On another note I completely agree with SF99 that a money deal, if that is the route for RVX, needs to be done prior to a Zenith IPO as right now management must have about ZERO credibility with the general investing public as they have made a number of critical missteps with RVX and McCaffrey has never concluded anything. If we had a CEO with credibility such as David Allen (Stem cell Therapeutics and YM Biosciences to name a couple) or Bill Hunter (currently Cardiome) we would be in a different boat however this is not the case.
I have said before and I still believe that RVX is an investment where great science must overcome at best mediocre business management. The exception in management being Ken Lebioda who has, from what I can see, the only legitimate pharma track record at RVX and is a very bright guy who from a public perspective is under utilized.