RE:Zenith?Bayou
The Zenith spin out was approved by shareholders around May 28, 2013. I was there downtown Calgary for the special meeting. Before the meeting started my buddy ( his brother was a classmate of CEO Don McCaffrey ) and I met Don in the hallway and asked why the urgency for the meeting. He said we have to do it now because results from the Assure trial were going to be announced soon at a heart conference ( I forget which one ). As has been pointed out by several posters here the RVX crew were expecting very positive results but it fell short on the IVUS results so it got hammered big time - millions of shares traded as people bailed. and the share price dropped to $ 0.15 from around $ 6.00 in one day - a classic case of panic. Bayou, go to media on the RVX website and check news releases for that period of time.
As I have mentioned a few times on this board I have been in this stock for almost 12 years. I live in Calgary so can attend meetings and have acquaintance with some of the players. I am anything but an insider and have been an annoyance to Don at some of the AGMs. I am certainly frustrated at how long this thing has taken to gel but will be long long long even though it has been a long long long time.
There is very significant therapeutic value in RVX208 and it has the potential to be a major blockbuster drug. IF it gets through the upcoming phase 3 trial ( I am sure it will ) and IF a Big pharma like Pfizer picks it up it will be a multi billion dollar product.
As some have pointed out I think that there have been recent discussions with BP and the asking price whether it is coming from Don or Peter Johann or Ken Dart is very high. Too high for BP to ante up until they see more MACE data. At the AGM in 2102 I asked Don "if Pfizer paid $ 1.3 Billion for Esperion, would you take the same $ 1.3B for RVX. His answer - " Only if it was my share"
Based on his holdings at the time that worked out to $ 22B for RVX. Bravado on his part but gives you an idea of his mindset and now we have even more positive data with MACE.
I'm still patient and still believe in RVX but I was thinking of sending Don an email saying.
Dear Don
Its been over 11 years and I'm presently in dire financial straits. I would like to see a price of $ 8.00 or $ 9.00 per share and my shareholder friends also would be happy with that. We would approve such a deal. Could you please cut a deal at that level with one of your big pharma pals as soon as possible?
Your Friend
Torpedoman
If he doesn't reply to my letter I will see him at the AGM and can harass him there.