Just going by memory here but Don mentioned at the AGM that research was going on at Dalhousie U and McGill U wrt apabetalone being used to treat a couple of conditions RVX is interested in pursuing. He made the comment that it is nice to see this research being done where RVX doesn't have to pay for it. I can't remember if he said this when the slide was up showing future areas of interest or in the Q&A, but he definitely said it. 

Hey Narmac, question; are you sure that Ken Dart is involved in Cayman Chemicals? I am out of town for a while and don't have much time for RVX stuff but I took a quick peek at their website and it doesn't mention anything about KD. It does profile the founder and all the senior people, mentions it was founded in 1981 (I believe before any of KD's bioscience interests were founded), and explains why it is called Cayman - the site of discovery for its initial research. Still though mine is truly a question, do you have a link to KD and Cayman Chemicals?  In any event as you and others have said it is a CRO doing what CRO's do. 

Interesting summary tada, my estimations have come out somewhat similar to yours (not quite as high on the high end) and the company's own NPV chart would suggest the correct neighbourhood (even more when you repeat the exercise for CKD). In any event thanks.  I revisited clinical trials.gov which I was led to believe were outside dates and it says final data collection for primary outcome is sept 2018 so I guess we'll know when we know. 

Hey tada, I guess we shall see whether or not AZN and PFE renew merger talks. Given that AZN's pipeline is one of the weakest in pharma yet they had no presence at JP Morgan this week for the first time in a long time if ever, makes me wonder. But that is just me.  

WRT a CVR, I agree that is the most likely scenario especially if someone steps up early to buy just Apabetalone.  Buying the whole company however probably might make more sense to a purchaser given the $250mm in tax credits, a nice offset to upfront money, and a growing pool of potentially valuable IP.  If a CVR is done after a successful read out for BetOnMace (in mid 2018 not 2019) I strongly doubt that a few hundred million dollars upfront would even come close to being enough money to get a deal done. It might be enough if someone steps up before BetOnMace is complete.  Jmo

Tada, I believe it was torpedoman who first reported on Don addressing the potential licensing agreement at the AGM. Regardless, as you said, Don clearly did say they missed the time target but were still in discussions.  One note on this and it is pure speculation, if those discussions involved either AZN or PFE the election of Trump and the potential for repatriation of offshore funds could very well restart talks of PFE taking over AZN.  That in turn could put RVX on the back burner with either of these two.  There are quite a few scenarios that could come from this set of circumstances, none of which where timing would be under Don's control.  

As I've stated before, I agree with tada that it is unlikely Eastern would want to become a BP. In addition to tada's points regarding the time to build a distribution network it would also entail considerable expense.  Between lost revenue on time to network build out and the expense of that build out it, IMO, would seriously eat into ROI.  To me Eastern has done a masterful job of obtaining its roughly 30% ownership in RVX while at the same time significantly protecting its downside risk.  Trying to become a BP would increase their risk profile in this investment, but I guess never say never.

One thing to add to Bear's notes.  There wasn't much in the way of Q&A but I did ask Don if he could differentiate for us between Zen-3694 and Gilead's Gs-5892.  He said he couldn't go into too much detail for proprietary reasons but that Zenith's product has a better toxicology profile.