Kideckel reported in a Dec. 13 research note that at Resverlogix Corp.'s (RVX:TSX) general meeting in Calgary, Alberta, on Dec. 12, the company announced that on Dec. 4, it closed a CA$87 million (CA$87M) private placement with Shenzhen Hepalink, "the world's largest heparin producer," wrote Kideckel, who defined the event as a "major endorsement from [a] world-leading pharma company." Subsequently, Resverlogix fully repaid its outstanding CA$68.8M loan.
In clinical news, Kideckel said, management indicated the company has achieved enrollment of about 2,000 patients for the Phase 3 BETonMACE trial of its lead drug candidate apabetalone in high-risk cardiovascular disease.
Also regarding apabetalone, Resverlogix highlighted a "new, independent publication in Nature Scientific Reports" that suggested it may be beneficial to HIV therapies, Kideckel reported.
In 2018, Resverlogix plans to pursue the complement-mediated diseases space, in which it has "made great progress," Kideckel wrote. He added that "this new research and development focus remains an impressive path for Resverlogix, with significant upside potential."
Also at the meeting, Kideckel noted shareholders reelected all board members "with votes in favor exceeding 98%."
A final announcement was that during 2017, four articles regarding Resverlogix were published, "including one showing new promise for complement-mediated diseases," Kideckel specified. Five are already in the works for release in 2018.
The analyst, in his report, also listed Resverlogix's "several key catalysts to watch for":
1. Completion of enrollment for its Phase 3 BETonMACE trial
2. Analysis of topline data from BETonMACE
3. Launch of its Phase 2a dialysis trial
4. Start of enrollment for its Fabry disease study
5. Determination of a clinical path forward in complement-mediated diseases
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Beacon Securities Ltd., Resverlogix Corp., Dec. 13, 2017
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