Reviva Provides Corporate And Program Updates And Highlights Key Upcoming Milestones
Portfolio Pulse from Benzinga Newsdesk
Reviva Pharmaceuticals Holdings, Inc. (RVPH) reported progress in its clinical program for brilaroxazine, a treatment for schizophrenia, with positive Phase 3 data and ongoing enrollment in a one-year OLE trial. The company expects to initiate a Phase 3 RECOVER-2 trial in Q1 2024 and release topline OLE trial data in Q4 2024. These developments are aimed at supporting an NDA submission to the FDA in 2025. Reviva also reported advancements in preclinical studies for brilaroxazine's potential in treating psoriasis and IPF, and raised $30 million in a registered direct offering.
January 04, 2024 | 1:35 pm
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Reviva Pharmaceuticals reported positive Phase 3 data for brilaroxazine in schizophrenia, with plans for further trials and an NDA submission by 2025. The company also raised $30 million and joined the Russell Microcap Index.
Positive clinical trial results typically have a favorable impact on a pharmaceutical company's stock price, as they bring the company closer to potential FDA approval and commercialization of the drug. The successful fundraising and inclusion in the Russell Microcap Index may also be viewed positively by investors, indicating financial stability and growth potential.
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