Business
Reviva Pharmaceuticals Holdings, Inc. Reports Third Quarter 2022 Financial Results and Recent Business Highlights
- Over 30% enrollment in ongoing global, pivotal Phase 3 RECOVER trial - - Topline data for Phase 3 RECOVER trial evaluating brilaroxazine for schizophrenia
About this update from Reviva Pharmaceuticals Holdings, Inc.
[{"type":"text","content":"- Over 30% enrollment in ongoing global, pivotal Phase 3 RECOVER trial - - Topline data for Phase 3 RECOVER trial evaluating brilaroxazine for schizophrenia still expected mid-2023 - - $23.2 Million in Cash as of September 30, 2022 - CUPERTINO, Calif., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) (“Reviva” or the “Company”), a clinical-stage pharmaceutical company developing therapies that seek to address unmet medical needs in the areas of central nervous system (CNS), cardiovascular, metabolic, and inflammatory diseases, today reported financial results for the third quarter ended September 30, 2022 and summarized recent business highlights. “With over 30% enrollment across 15 sites in the United States for our pivotal Phase 3 RECOVER trial, multiple sites recently initiated in Europe, and additional sites in India expected by year-end, we remain well-positioned to deliver expected topline data for brilaroxazine in schizophrenia in mid-2023,” said Laxminarayan Bhat, Ph.D., Founder, President, and CEO of Reviva. “We believe brilaroxazine has broad therapeutic potential beyond schizophrenia. We continue to actively explore non-dilutive financing opportunities, including partnerships, to support expansion into other neuropsychiatric indications including bipolar disorder, major depressive disorder (MDD), and attention deficit hyperactive disorder (ADHD), as well as pulmonary indications including pulmonary arterial hypertension (PAH) and idiopathic pulmonary fibrosis (IPF), that also arise from underlying dysfunction in serotonin and dopamine signaling.” Third Quarter 2022 and Recent Business Highlights Global enrollment update for pivotal Phase 3 RECOVER trial reporting over 30% enrolled in the United States, multiple sites initiated in Europe and initiation of sites in India expected before year-end (October 2022)Announced $8.5 million registered direct offering and concurrent private placement (September 2022) Anticipated Milestones and Events Enrollment initiation at sites in India for RECOVER Phase 3 study expected in Q4 2022Topline data for pivotal Phase 3 trial evaluating brilaroxazine for the treatment of schizophrenia anticipated in mid-2023May initiate Phase 2a studies in bipolar disorder, MDD, ADHD, PAH and IPF subject to the receipt of non-dilutive financing in 2023Pursuing st...