Reviva FY2023 net loss $39.3M; restates 2022; positive Phase 3 schizophrenia data; RECOVER-2 trial planned

REVIVA PHARMACEUTICALS HOLDINGS, INC.

Net loss $39.3M ($1.65/sh) for FY2023 vs restated $28.3M ($1.45/sh) for FY2022.
Cash $23.4M as of Dec 31, 2023; completed $30M registered direct offering in Nov 2023.
Restated FY2022 results due to ~$3.9M under-accrual of clinical trial expenses.
Phase 3 RECOVER-1 met primary endpoint: 10.1-point PANSS reduction at 50mg vs placebo (p<0.001).
Registrational RECOVER-2 trial starts Q2 2024; NDA submission for brilaroxazine targeted Q3 2025.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

REVIVA PHARMACEUTICALS HOLDINGS, INC. reported the full year ended December 31, 2023 results: net income approximately $39.3 million, EPS $1.65 per share.

Period: the full year ended December 31, 2023
Net income: approximately $39.3 million
EPS: $1.65 per share
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, net loss was approximately $39.3 million, or $1.65 per share, compared to approximately $28.3 million, or $1.45 per share, for the year ended December 31, 2022 (as restated).

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REVIVA PHARMACEUTICALS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-24-011953

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