Reviva Pharmaceuticals (US:RVPH)2026-03-30 10:11Financial Performance - Reviva reported a net loss of approximately $19.9 million, or $5.48 per share, for the fiscal year ended December 31, 2025, a decrease from a net loss of approximately $29.9 million, or $17.73 per share, for the fiscal year ended December 31, 2024[9][17]. - Total operating expenses for 2025 were $20.2 million, down from $30.8 million in 2024, with research and development expenses at $11.7 million compared to $22.9 million in the previous year[9][17]. - Reviva's total assets as of December 31, 2025, were approximately $15.9 million, compared to $15.5 million as of December 31, 2024[9][15]. Cash Position - As of December 31, 2025, the company's cash and cash equivalents totaled approximately $14.4 million, an increase from approximately $13.5 million as of December 31, 2024[9][15]. - The company has cash and cash equivalents of approximately $23 million following the March 2026 offering, which is expected to fund operations into Q1-2027[9][9]. Clinical Development - The company plans to initiate the RECOVER-2 registrational Phase 3 trial for brilaroxazine in mid-2026, with trial-related activities starting in Q2-2026 and patient enrollment in the U.S. expected to begin in Q3-2026[9][8]. - Brilaroxazine demonstrated robust efficacy in a one-year study, with a PANSS total score improvement of -18.1 and only <1% of patients reporting symptom relapse[9][6]. - The Phase 3 RECOVER trial data package includes a well-tolerated safety profile observed in over 900 subjects treated to date[9][6]. Funding Activities - The company completed public equity offerings in June 2025, September 2025, and March 2026, raising gross proceeds of $10.0 million, $9.0 million, and $10.0 million, respectively[9][9]. Intellectual Property - Reviva's patent portfolio includes a European Patent granted in November 2025 for the use of brilaroxazine in treating pulmonary fibrosis, expanding its protection in key markets[9][9].