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Jun 30, 2023
Reviva Q2 2023 Earnings Report
Reviva's financial performance declined due to increased research and development and general and administrative expenses.
Key Takeaways
Reviva Pharmaceuticals reported a net loss of $12.4 million for Q2 2023, compared to a net loss of $5.3 million for the same period in 2022. The increase in net loss was primarily due to increased research and development and general and administrative expenses. The company's cash totaled $11.2 million as of June 30, 2023.
Net loss for Q2 2023 was $12.4 million, or ($0.55) per share.
Net loss for Q2 2022 was $5.3 million, or ($0.29) per share.
Cash totaled approximately $11.2 million as of June 30, 2023.
Topline data for global pivotal Phase 3 RECOVER trial for brilaroxazine in schizophrenia expected in October 2023.
Forward Guidance
Reviva anticipates several milestones, but also acknowledges the need for additional financing.
Positive Outlook
- Topline data for pivotal Phase 3 RECOVER trial evaluating brilaroxazine for the treatment of schizophrenia expected in October 2023
- May initiate Phase 2a studies in bipolar disorder, major depressive disorder, and attention deficit hyperactive disorder in second half 2023, subject to the receipt of additional financing
- Completion of the required 100 patients treated with brilaroxazine for 1-year in the OLE study expected in Q3 2024
- Submit investigational new drug application (IND) for liposomal-gel formulation of brilaroxazine in psoriasis expected in 2024
- Evaluate grant and other non-dilutive financing opportunities for our product candidates from Federal and State Healthcare Agencies and Foundations
Challenges Ahead
- May initiate Phase 2a studies in bipolar disorder, major depressive disorder, and attention deficit hyperactive disorder in second half 2023, subject to the receipt of additional financing
- Pursue partnership opportunities for the development of our pipeline
Historical Earnings Impact
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Avg. Return Before/After Earnings
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