GAC - The way I read this is that those who sold above $3.50 and reinvested the total proceeds back into this share offering just increased their exposure to RVX by about 44% or more using the same dollars. That's a brilliant move. The short number doesn't have to be increased much as a very significant number of the shares traded today could be doing exactly what I just explained. I will go further a speculate that more than half of the shares that traded today have done exactly that, at least in Canada. This dip should not last to long. If you are not participating in the financing, buying on the open market around these prices is a wonderful opportunity. As you pointed out, if they show success in this trial there could be exceptional upside. This offering buffers the downside just a little if there is failure.

IMO this is all about putting money in the till and nothing more. It would be nice to see 10 million units issued in this financing. The only disappointment I have is that there is no forced conversion of the warrants at a pre specified price. 

tada