Resverlogix (RVX.TO in Canada or RVXCF in the U.S.) is reminding me of a Christmas present wrapped and under the tree, or perhaps an episode of the game show 'Let's Make a Deal'.
Back on August 22nd the company announced that its Annual General Meeting (AGM) of October 5th 2016 had been cancelled, with no date for rescheduling at that time,and no reasons given. Message board participants reported communications with the company's IR representative as saying no explanation could be given due to disclosure rules, I myself received such an email.
Then on October 6th the company put out a PR announcing the Annual and Special Meeting of shareholders will be held on December 15th 2016.
The company hasn't been sitting on its hands in the interim. They just did a presentation in Cologne at BIO Europe. Here is a link to the slide presentation from that event:
Notable in that presentation is yet another mention of a second licensing/development deal to be announced in 2016, the first being the deal in 2015 with Shenzen Hepalink. When that deal was announced RVX.TO had made a big move and was trading up around $3 CDN after starting 2015 at less than $0.60 cents.
Which brings me back to the first line of this blog posting, the references to the Christmas present under the tree or an episode of "Let's Make a Deal".
In the PR of October 6th linked above the company stated that the matters to be considered at the December 15th meeting will be delivered to shareholders and filed on SEDAR no later than November 15th 2016. I am expecting that information will give at least an indication, (if not the outright reason) as to why the Oct. 5 AGM was cancelled.
Is it simply the licensing/development deal? If so is it significant enough to send RVX soaring like it did in early 2015? Is it perhaps something else more significant? Could it be something negative?
Back this past August and early September RVX was trading down around $1.20 per share. After spiking briefly up near $2.50 the PPS has settled in and around $1.80 to $1.90 with occasional gusts up around $2. So what's in the box? Did Uncle Resverlogix get us that gaming system all the kids are wanting? Or socks and underwear? We can take $1.80 or so per share now, or wait to see what's behind the curtain.
I am holding out to see what's behind that curtain. The phase III BETonMACE trial for diabetes patients has now been enrolled for a full year and the company recently announced that there have been no safety or efficacy issues or concerns.
The market game is never easy, and that's is as it has to be. It is my belief that there has been a manipulative foot holding the PPS down. Yes $1.80 or so is much better than the $1.20 it was at, but I think there is much more upside to come, and that good news on or before November 15th could send the PPS on another ride like it had in early 2015 when the price soared from less than 60 Canadian pennies to up around $3. The difference now being that if a similar run starts it will be from a substantially higher launching pad.
Good luck.....read the disclaimer at the very bottom. My views are biased as I am a shareholder.
Lets see what will happen come Dec 16
ReplyDeleteSo far the market is saying that what's in the box is socks and underwear...will have to wait for the meeting to see if there are any surprises.
ReplyDeleteIt could also be that we're in the 8th or 9th inning of the current game
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