I agree with the sentiment that the optics of any insider selling aren't great....they're not horrible, but a first gut reaction for longs to any insider selling I would bet is: 'Dang, I wish he'd been buying'.
Yes you can dig into it and see that it really isn't that big a deal...but that requires a bit of thought and I think the initial reaction does count for something.
Total volume for RVXCF was only 15,824 shares....so the good Dr's selling of 11,800 was most of the activity assuming he was trading OTC.
