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Jun 30, 2024
Reviva Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024 and summarized recent business highlights.
Key Takeaways
Reviva Pharmaceuticals reported a net loss of $7.9 million, or $0.26 per share, for the second quarter of 2024. The company's cash totaled approximately $6.2 million as of June 30, 2024.
Topline data from the 1-year open-label extension trial is expected in Q4 2024.
The registrational RECOVER-2 trial in schizophrenia is expected to initiate in Q3 2024, with topline data expected in Q4 2025.
A European patent was granted covering brilaroxazine use for treating pulmonary hypertension (PH) and pulmonary arterial hypertension (PAH).
A U.S. patent was granted covering the use of brilaroxazine for the treatment of idiopathic pulmonary fibrosis (IPF).
Forward Guidance
Reviva anticipates several milestones, including the initiation of the RECOVER-2 trial in Q3 2024, topline data from the OLE trial in Q4 2024, and potential NDA submission for brilaroxazine in schizophrenia targeted for Q1 2026.
Positive Outlook
- Initiation of registrational Phase 3 RECOVER-2 trial evaluating brilaroxazine for the treatment of schizophrenia expected in Q3 2024
- Topline data from 1-year open-label extension (OLE) trial expected Q4 2024
- Topline data from registrational Phase 3 RECOVER-2 trial expected Q4 2025
- Potential NDA submission for brilaroxazine in schizophrenia targeted for Q1 2026
- Investigational new drug application (IND) submission for liposomal-gel formulation of brilaroxazine in psoriasis expected in 2025
Historical Earnings Impact
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Avg. Return Before/After Earnings
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