RE:zenith cashThanks anthonyevens. Interesting point and it makes sense to me.
Zenith certainly has no concern at all about financing however they get it. I'm just doing a think out loud recall of events.
- So in the summer of 2014 Eastern Capital extended the line of credit to RVX by $30,000,000.
- This puts the total LOC at $62,000,000 if I recall correctly.
- This money (the $30 MM) was to be/is being used to fund the BETonMACE phase 3 trial and operating expenses.
- In the fall of 2014 when Don outlined the original trial design (phase 2/3) he indicated the cost for the trial would be $25,000,000 or less (again based on my memory).
- Then, in February 2015, Don introduced an improved trial design called BETonMACE and moving directly to phase 3.
- This trial would be shorter and would cost under $20,000,000.
- This leaves a potential of $10,000,000 free for Zenith. I don't know the monthly operating costs for Zenith but I would guess even $1,000,000 would carry them a long way, at least far enough to get them to their next laboratory test of whatever replaced ZEN3365.
- At that stage the BETon MACE trial should have been in field for at least 8 or 9 months and RVX insiders will have an idea of how results are looking.
Anyway, to your point, the new RVX financials are due soon, so we'll see.
My recent posts related to Zenith have expressed skepticism which was somewhat counter-balanced by
hope in the scientific talent and the 15 years of research leading to the creation of Zenith. I think I was frustrated by the dropping ZEN3365 but this in fact, is probably positive because they feel they have a better molecule. Perhaps this thinking came from the new scientists brought in from other pharma companies.
I've taken some tongue-in-cheek shots at Don claiming that RVX and Zenith are 7 years ahead of competitors but now I remember Don referring to a period perhaps 7 to 10 years ago when RVX shifted their scientific strategy and I think that change was to BET bromodomain inhibitors.
- "RVX-208, a first-in-class, small molecule selective BET bromodomain inhibitor for the treatment of patients with cardiovascular disease, diabetes mellitus, Alzheimer's disease, peripheral artery disease, and chronic kidney disease. RVX-208 is the only selective BET bromodomain inhibitor in clinical trials".
At that time and only until recently I believe BP was not focused on BET bromodomain inhibitors. Therefore, perhaps RVX and Zenith are 7 years ahead. Posters, please correct me if I am wrong on this.
I guess for me as I think (out loud) through the various perspectives it does strike me that both RVX and Zenith are very confident in their science and the value they are creating.
Communications On a separate point I just checked the RVX website and the home page refers to "RVX-208 is a first -in-class small molecule that inhibits BET bromodomains,
currently being evaluated in
Phase 2b for treatment of atherosclerosis". I've criticized RVC communications many times. At a minimum they should at least be able to keep their website(s) up to date and exciting!
GLTA DYOD
Cheers
Toinv :)