|Day's Range||1.40 - 1.50|
|52 Week Range||1.12 - 2.47|
|PE Ratio (TTM)||-3.56|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Toronto, Ontario--(Newsfile Corp. - July 25, 2017) - Trading resumes in: Company: Resverlogix Corp. TSX Symbol: RVX (all issues) ...
Toronto, Ontario--(Newsfile Corp. - July 25, 2017) - The following issues have been halted by IIROC: Company: Resverlogix Corp. TSX Symbol: RVX (all issues) ...
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.