Reviva Pharmaceuticals Holdings Inc. (RVPH) shares gained 0.49% in after-hours on Friday, January 14, 2022, and closed the weekly trading at $2.04. However, in the regular trading session of Friday, RVPH’s stock lost 5.58%. RVPH shares have fallen 78.40% over the last 12 months, and they have moved down 31.65% in the past week. Over the past three months, the stock has lost 45.87%, while over the past six months, it has declined 45.28%.
Let’s have a look at its recent news and developments.
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FDA update about RVPH brilaroxazine
On January 10, 2022, the U.S. Food and Drug Administration (FDA) informed Reviva Pharmaceuticals Holdings, Inc. (RVPH) that it may proceed with Phase 3 clinical investigation of its lead candidate, brilaroxazine, a novel serotonin and dopamine receptor modulator for the treatment of schizophrenia.
Schizophrenia is a complex and debilitating neuropsychiatric disorder that affects ~1% of the world’s population, and approximately 3.5 million people in the United States alone. Brilaroxazine (RP5063) is a new chemical entity with potent affinity and selectivity against key serotonin and dopamine receptors implicated in schizophrenia and its comorbid symptoms.
RVPH participation in the recent conferences
Reviva Pharmaceuticals Holdings, Inc. recently participated at H.C. Wainwright BioConnect Virtual Conference, which was held on Monday, January 10 – Wednesday, January 13, 2022.
RVPH also participated in the 11th Annual LifeSci Partners Corporate Access Event which was held on Wednesday, January 5 – Friday, January 7, 2022.
RVPH latest financial results
On November 15, 2021, Reviva Pharmaceuticals Holdings, Inc. (RVPH) reported financial results for the third quarter of 2021.
Q3 2021 financial highlights
- RVPH’s total operating expenses were $2.5 million for Q3 2021 compared to $0.5 million in Q3 2020.
- It suffered a net loss of approximately $2.28 million, or $0.12 per share in Q3 2021 compared to a net loss of approximately $0.66 million, or $0.24 per share, for the same period in 2020.
- The company ended the third quarter with total cash of approximately $33.5 million compared to approximately $0.35 million for the quarter ended September 30, 2020.
Well, we have no recent news to justify its loss in the regular trading session on Friday and later it gained marginally in the after-hours. Let’s see how it performs on Tuesday, after the long weekend?