It's an interesting question.

With funds running out, one would think an announcement is imminent for funding. The stock is holding steady and not really selling off a la BTI pre-financing.

Why?

Perhaps there is a Mexican standoff.

Big Pharma may be floating some offers out there and RVX may be considering them vs going alone. One would think the main backup option is likely just an LOC extension at this point if the share price action means anything.

So, Don may be taking out to the last minute because he wants to see if Big Pharma blinks and increases their offer. Otherwise, perhaps it is just best to soldier on alone.

bfw