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Dec 31, 2022
Reviva Q4 2022 Earnings Report
Reviva reported full year 2022 financial results and provided recent business highlights.
Key Takeaways
Reviva Pharmaceuticals reported a net loss of $24.3 million for the year ended December 31, 2022, with cash and cash equivalents totaling $18.5 million. The company believes its cash will be sufficient to fund operating plans through the third quarter of 2023. Topline data for the pivotal Phase 3 trial evaluating brilaroxazine for schizophrenia remains on track for mid-2023.
Topline data for pivotal Phase 3 trial evaluating brilaroxazine for the treatment of schizophrenia remains on track for mid-2023.
The company completed the majority of non-clinical and clinical prelaunch measures for brilaroxazine New Drug Application (NDA) submission.
Positive clinical drug-drug interaction data reinforces a differentiated pharmacological and safety profile for brilaroxazine.
Over 50% of approximately 400 patients have been enrolled in the pivotal Phase 3 RECOVER study evaluating brilaroxazine for schizophrenia.
Forward Guidance
Reviva anticipates topline data for the pivotal Phase 3 trial evaluating brilaroxazine for the treatment of schizophrenia in mid-2023 and may initiate Phase 2a studies in bipolar disorder, major depressive disorder, and attention deficit hyperactive disorder in the second half 2023, subject to the receipt of additional financing.
Positive Outlook
- Topline data for pivotal Phase 3 trial evaluating brilaroxazine for the treatment of schizophrenia anticipated in mid-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
- Pursue partnership opportunities for the development of our pipeline
- Evaluate grant and other non-dilutive financing opportunities for our product candidates from Federal and State Healthcare Agencies and Foundations
Historical Earnings Impact
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Avg. Return Before/After Earnings
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