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 [...]

Resverlogix completes patient recruitment in Phase 2 ASSERT clinical study

Resverlogix (TSX:RVX) has completed patient enrolment in the Phase 2 ASSERT clinical study of its lead cholesterol drug RVX-208, five months ahead of schedule. “At this rate we could be seeing the final dosed patient in May, 2010,” CEO Donald McCaffrey said in a statement. “In the second half of 2010, we look forward to [...]

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 [...]

Resverlogix to run parallel Phase 2 studies of lead cardiovascular drug

Resverlogix (TSX:RVX) is planning the next two clinical studies of its lead cardiovascular drug in parallel as a way to accelerate development of RVX-208 and hopefully bring it to market sooner, CEO Donald McCaffrey told shareholders at the annual meeting. They include a Phase 2 pilot intravascular ultrasound (IVUS) trial to examine early lipid effects [...]

Resverlogix appoints Cann as CFO

Resverlogix (TSX:RVX) has named A. Brad Cann as chief financial officer, effective Oct. 26, replacing Kelly McNeill, who will be nominated as a corporate director at the company’s annual meeting this Thursday. Mr. Cann was previously executive vice president and CFO of Royal Host Real Estate Investment Trust. Donald McCaffrey, CEO of Calgary-based Resverlogix, said [...]