Dundee mulls the good and bad of Resverlogix’s Phase 2b Results

Following a sweeping sell off in Resverlogix (TSX:RVX) on Phase 2b clinical results with its RVX-208 cholesterol drug, Dundee Securities is sticking with its “buy, venture risk” rating, but with “increased caution” on the stock. Dundee doesn’t have a target price on the stock, which plummeted $1.89 just before the close on Tuesday and tumbled [...]

Riding the Next Wave

No, we’re not talking about the north coast of Maui but rather a new research platform from long-time biotech analyst David Martin of Dundee Securities. “If I’m going to recommend that investors own a basket of biotech stocks, it makes sense that I ought to initiate on a basket of stocks rather than make one-off [...]

Yorkville in financing pact with Allon

YA Global Master SPV, a fund managed by Yorkville Advisors LLC, has made its third standby equity distribution agreement in the Canadian biotech sector in recent months, agreeing to provide up to $10 million of capital to Allon Therapeutics (TSX:NPC) over the next three years at Allon’s discretion. “We are enthusiastic about our investment in [...]

Arthur Higgins named to Resverlogix board

Resverlogix (TSX:RVX) has appointed Arthur Higgins, CEO of Bayer HealthCare and chairman of the Bayer HealthCare executive committee, to the board, effective Feb. 1. “Arthur Higgins’ global leadership experience and exposure to numerous healthcare markets are just a few of the reasons that he is a valued addition to the (Resverlogix) board,” CEO Donald McCaffrey [...]

Resverlogix closes additional financing

Resverlogix (TSX:RVX) has completed an $8-million second tranche of its private placement announced in December, bringing the total proceeds of the equity financing to $13-million. In a statement, the company said it issued units at a price of $2.50 apiece, with each unit consisting of one common share and one-quarter of a warrant. Each full warrant [...]

Resverlogix redeems debentures

Resverlogix (TSX:RVX) has completed the previously announced redemption of all outstanding convertible notes 2.5 years ahead to maturity. In a statement, the company said a total of $6,728,000 (U.S.) of convertible debt, due June 6, 2012, has been redeemed. The redemption follows moves in December for a $5-million (Canadian) equity private placement and a standby [...]

Resverlogix in $25 million standby financing

Resverlogix has signed a standby equity distribution agreement with YA Global Master SPV, a fund managed by Yorkville Advisors, which gives Resverlogix an option to sell up to $25-million of common shares to YA. “This agreement will provide Resverlogix with the flexibility to draw strategic amounts of capital at its discretion,” Resverlogix CEO Donald McCaffrey [...]