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Message: ...is anybody out there at the AGM...?

I was at the AGM. It was lightly attended, probably at least in part due to the excellent webcast released yesterday.

Following in no particular order are the main takeaways for me that are for the most part in addition to what we already have access to;

-Don said that they are not waiting for FDA approval because the FDA is in a state of disarray and when I asked where RVX falls within the FDA, endicrinology/metabolic or cardio/renal he said they are still not sure. I think that speaks volumes as to where the FDA sits wrt responding to RVX in a timely manner. He also mentioned that RVX's cause will be helped by the medical legislation before the US senate which includes provisions for quicker American access to drugs approved in the EMA.

-Don spoke again of working on more regional deals but said he will not be doing any deals in the seven major markets that big pharma covets. Makes good sense to me, raise cash where you can but don't do anything to dimminish the value of the big prize.

-Wrt ASSURE/SUSTAIN post hoc RRR in MACE as per the 3 point standard for BetOnMace. Don said that the trend in the post hoc analysis was that the the results would look similar but that the post hoc was not sufficiently powered for 3 point MACE for a statistically significant conclusion.

-I asked post meeting whether he felt that there is now clearly defined IP ownership distinctions between RVX and Zenith. He said yes and that the swapping that has occurred between the 2 companies was in fact in part due to better understanding of the IP in general.

-When I asked about analyst interest in New York he said there was a lot of interest and that 3 new analysts should have reports out within 60 days. He said he has a meeting next month with Doug Loe at Euro Pacific Canada (he is a very well respected Canadian biotech analyst)

-Wrt NASDAQ, Don said they are ready to go administratively and that to qualify they need 90 days of a $2USD sp or 5 days of a $3USD sp. By his comments during the meeting, the Q&A and in the post meeting scrum his general attitude seemed to be that NASDAQ listing will be in the not to distant future.

-doubling up in the CRO function to ensure that the execution of BetOnMace is carried out as per plan. What I found interesting is that while Don still is obviously very dissatisfied with the way that the Cleveland performed their role in ASSURE he also took some responsibility for its execution failures stating that some former employees should have been more on top of things. The main takeaway here for me is that the company has made adjustments to ensure that BetOnMACE is carried out to the highest standards.

-Don emphasized that there are lots of "inflection points" between now and the end of BetOnMace to keep and gain interest in RVX. The company certainly seems to feel very positive about the large number of Orphan opportunities in their portfolio for which trials are "cheap and fast"

-Zenith AGM most likely Dec 21st. In the post meeting scrum I got the impression that, to say the least, from a business perspective Julie Cherrington was not a good match with the board.

JMO but I would close by saying that I have sometimes been very critical of management and while I still stand by my past criticisms I think that currently there is a very strong go forward plan and that management is the right team to take this forward.

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