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Biotech Receives 'Major Endorsement from World-Leading Pharma Company'
Research Report

Source: Streetwise Reports (12/20/17)

David Kideckel, an analyst with Beacon Securities Ltd., relayed news from this firm's recent annual meeting, including a private placement with a large pharma and an update on the Phase 3 trial of its lead therapy.

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

Based on the potential upcoming milestones, Kideckel concluded, "We believe 2018 holds great promise for Resverlogix." He reiterated Beacon's Buy rating and CA$8.55 per share price target price on the biotech, whose stock is currently trading at around CA$2 per share.

Read what other experts are saying about:

Resverlogix Corp.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Additional disclosures about the sources cited in this article

Beacon Securities Ltd., Resverlogix Corp., Dec. 13, 2017

Does Beacon, or its affiliates or analysts collectively, beneficially own 1% or more of any class of the issuer's equity securities? No

Does the analyst who prepared this research report have a position, either long or short, in any of the issuer’s securities? No

Does Beacon Securities beneficially own more than 1% of equity securities of the issuer? No

Has any director, partner, or officer of Beacon Securities, or the analyst involved in the preparation of the research report, received remuneration for any services provided to the securities issuer during the preceding 12 months? No

Has Beacon Securities performed investment banking services in the past 12 months and received compensation for investment banking services for this issuer in the past 12 months? No

Was the analyst who prepared this research report compensated from revenues generated solely by the Beacon Securities Investment Banking Department? No

Does any director, officer, or employee of Beacon Securities serve as a director, officer, or in any advisory capacity to the issuer? No

Are there any material conflicts of interest with Beacon Securities or the analyst who prepared the report and the issuer? No

Is Beacon Securities a market maker in the equity of the issuer? No

Has the analyst visited the head office of the issuer and viewed its operations in a limited context? Yes

Did the issuer pay for or reimburse the analyst for the travel expenses? No

Beacon analysts are not permitted to own the securities they cover, but are permitted to have a position, either long or short, in securities covered by other members of the research team, subject to blackout conditions.

Analyst Certification: The Beacon Securities Analyst named on the report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst’s personal views about the company and securities that are the subject of the report; or any other companies mentioned in the report that are also covered by the named analyst. In addition, no part of the research analyst’s compensation is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.

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