|Day's Range||1.29 - 1.42|
|52 Week Range||1.12 - 2.47|
|PE Ratio (TTM)||-3.23|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
On June 20th, Resverlogix (RVX.TO) announced the close of its CAD$10 million in equity shares in its recent offering. We anticipate the final details regarding net proceeds and shares issued will be available in the next week or two. The CAD$10 million capital raise should be sufficient to provide the flexibility to negotiate a larger licensing or first right of refusal deal that will support clinical trials and operations until a new drug application can be submitted to the FDA, which we anticipate occurring in 2019. Based on our conversations with management and the limited level of capital targeted in last week’s announcement, we anticipate that a larger deal is close at hand which will provide enough cash to fund the $2.0 to $2.5 million per month in anticipated cash burn. Cardiovascular disease is the number one killer in the world, with near 18 million people dying from this condition each year. There are several high risk subgroups, including those with diabetes and kidney disease, which have shown promise using apabetalone therapy in clinical trials. The United States, Europe and Latin America (RVX’s anticipated first markets) contain over six million individuals that could potentially benefit from the therapy, providing a substantial market for apabetalone if commercialized. This ignores opportunities for apabetalone in other areas such as renal disease and where the drug’s epigenetic impact improves the regulation of pathways associated with disease.
On March 17, Resverlogix Corp. (RVX.TO) posted its financial statements and management discussion and analysis for its third quarter of fiscal year 2017 ending January 31, 2016. The company reported no revenues and a net loss of ($13.0) million or ($0.12) per share. This compares to our estimates also of zero revenues and a net loss of ($7.3) million or ($0.07) per share. Total operational expenses for 3Q:17 were $13.0 million, increasing from $8.9 million in the same quarter of the prior year. Second quarter research & development expenses rose 120%, while general & administrative increased 21%. Costs for the Renal PK and the BETonMACE clinical trials related to recruiting and clinical supply shipments were important drivers behind the increase. General and administrative costs fell just below $1.0 million up 21% from $0.8 million as a payment for a cardiovascular continuing education grant was made. Net finance costs fell in 3Q primarily due to lower loss from change in value of royalty preferred shares offset by higher foreign exchange loss and interest accretion. The warrant liability shifted from a gain in 3Q:16 to a slight loss in 3Q:17 due to the increase in stock price.
Categories: Yahoo Finance Get free summary analysis Resverlogix Corp. reports financial results for the quarter ended October 31, 2016. Analysis Summary numbers: Revenues of CAD 0 million, Net Earnings of CAD -19.88 million. The company did not record any revenues for the last twelve months making the comparison of net margin versus asset turnover meaningless. RVX-CA‘s book value ... Read more (Read more...)