NASDAQ$RVPH
Reviva Pharmaceuticals Holdi · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reviva reported results for the third quarter of 2023, highlighting the successful Phase 3 RECOVER trial for brilaroxazine in schizophrenia.
Reviva Pharmaceuticals announced positive topline results for its Phase 3 RECOVER trial, with brilaroxazine demonstrating statistically significant and clinically meaningful reductions in schizophrenia symptoms. The company reported a net loss of $10.5 million for the third quarter of 2023 and has $5.0 million in cash reserves.
- Phase 3 RECOVER trial met all primary and secondary endpoints with statistically significant and clinically meaningful reductions in schizophrenia symptoms at week 4 using 50 mg of brilaroxazine compared to placebo.
- Consistent efficacy and safety findings observed across Phase 2 REFRESH and Phase 3 RECOVER trials, reinforcing brilaroxazine's competitive profile.
- Topline data from the 1-year open-label extension (OLE) trial is expected in Q4 2024.
- A registrational Phase 3 RECOVER-2 trial is expected to start in Q1 2024, supporting a planned NDA submission to the FDA in 2025.
Headline financials
Revenue & EPS history
Reviva · Revenue · Quarterly
$0
Forward guidance
Reviva anticipates several milestones, including topline data from the 1-year OLE trial in Q4 2024 and initiation of a Phase 3 RECOVER-2 trial in Q1 2024. They also plan to explore studies in bipolar disorder, MDD, and ADHD, and pursue partnerships and non-dilutive financing.
Tailwinds
- Topline data from 1-year open-label extension (OLE) trial expected Q4 2024
- Initiation of a registrational Phase 3 RECOVER-2 trial expected Q1 2024
- May initiate Phase 2a studies in bipolar disorder, major depressive disorder, and attention deficit hyperactive disorder in 2024
- Submit investigational new drug application (IND) for liposomal-gel formulation of brilaroxazine in psoriasis expected in 2024
- Pursue partnership opportunities for the development of our pipeline
Headwinds
- Evaluate grant and other non-dilutive financing opportunities for our product candidates from Federal and State Healthcare Agencies and Foundations
- Reliance on successful clinical trials for product development.
- Dependence on regulatory approvals for commercialization.
- Potential challenges in securing partnerships for pipeline development.
- Risks associated with raising sufficient funding for operations.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
-1.2%
Avg return
Earnings day
-0.5%
Avg return
5 days after
+16.7%
Avg return
30 days after
39%
11 / 28 earnings
Positive
+15.8%
Q2 2025
Best reaction
-22.9%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | +9.6% | +13.7% | +94.3% | |
| Q3 2025 | -7.3% | -7.9% | +23.0% | |
| Q2 2025 | +15.8% | +11.4% | -5.1% | |
| Q1 2025 | +4.9% | +31.6% | -8.1% | |
| Q4 2024 | +15.0% | +16.0% | +17.1% | |
| Q3 2024 | -9.6% | +0.8% | +108.8% | |
| Q1 2024 | +0.6% | -1.8% | -11.8% | |
| Q4 2023 | -9.8% | -18.2% | -53.7% | |
| Q3 2023 | -17.2% | -33.6% | -37.1% | |
| Q2 2023 | +3.4% | +0.0% | +28.8% | |
| Q1 2023 | +5.4% | -0.5% | -15.6% | |
| Q4 2022 | -10.1% | -5.2% | +47.0% | |
| Q3 2022 | -22.9% | -9.5% | -21.6% | |
| Q2 2022 | +2.8% | +4.9% | +208.5% | |
| Q1 2022 | +15.3% | +17.1% | -20.4% | |
| Q4 2021 | +0.0% | -3.3% | +21.1% | |
| Q3 2021 | -1.3% | -10.3% | -11.4% | |
| Q2 2021 | -6.0% | -4.9% | +18.3% | |
| Q1 2021 | -0.2% | +12.2% | -1.2% | |
| Q4 2020 | -22.3% | -22.6% | -46.5% | |
| Q3 2020 | -0.7% | — | — | |
| Q2 2020 | +0.0% | — | — | |
| Q1 2020 | +0.1% | — | — | |
| Q4 2019 | +0.0% | — | — | |
| Q3 2019 | +0.0% | — | — | |
| Q2 2019 | +0.4% | — | — | |
| Q1 2018 | -0.1% | — | — | |
| Q4 2018 | +0.0% | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — |
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