GlobeNewswire·Apr 15, 2026, 8:00 AM ET

Reviva Announces Letter to Shareholders

RVPH

Reviva Pharmaceuticals Holdings, Inc. announced a shareholder letter from CEO Laxminarayan Bhat, Ph.D. dated April 15, 2026.
The company closed a $10 million financing on March 20, 2026, to strengthen its balance sheet.
Following the capital raise, Reviva reported approximately $23 million in cash and cash equivalents, which is expected to fund operations through Q1 2027.
Reviva is evaluating strategic alternatives to maximize the value of its lead candidate, brilaroxazine.
The company plans to extend patent life and commercial exclusivity for brilaroxazine potentially through 2046.
Reviva filed a composition of matter patent application for a new form of brilaroxazine and is pursuing an accelerated review process.
The company intends to seek FDA alignment mid-year 2026 to switch the active pharmaceutical ingredient in the upcoming second Phase 3 trial.
Preparations for the second Phase 3 trial, RECOVER-2, are underway with trial activities expected to begin in Q2 2026.
Patient enrollment for RECOVER-2 in the United States is scheduled for Q3 2026, with study completion expected in Q4 2027.
The FDA has already cleared the protocol for the RECOVER-2 trial in schizophrenia.
Brilaroxazine previously met all primary and secondary endpoints in the global Phase 3 RECOVER trial for schizophrenia.
Reviva aims to develop brilaroxazine for additional neuropsychiatric indications including bipolar disorder, major depressive disorder, and ADHD.
Brilaroxazine holds Orphan Drug Designation from the FDA for pulmonary arterial hypertension and idiopathic pulmonary fibrosis.