ResVerlogix talks up chance of buyout offer

Canada's ResVerlogix attracted considerable attention at the recent BIO CEO & Investor forum in New York. CEO Donald McCaffrey was talking up plans to be acquired by a deep-pocket biopharma company, saying he's in talks with seven major pharma outfits. Lead therapy RVX-208 is one of those promising 'good cholesterol' drugs, which has investors pushing up the company's stock price, even though the company hasn't reached the clinic yet. Atherosclerosis is a big target these days, and McCaffrey is betting that the extra focus will translate into an offer it can't refuse. Word of a possible takeover probably hasn't hurt the company's stock price, either.

- here's the report on ResVerlogix from BusinessWeek