Reviva Narrows Quarterly Loss to $2,298,905 in Third Quarter
Key Facts
Reviva Pharmaceuticals reported a net loss of $2,298,905, or $0.17 per share, for the three months ended September 30, 2026, according to results released on November 13. The loss narrowed from $4,010,773, or $1.09 per share, in the year-earlier period. The decline marks an annual improvement in results for a company that continues to record losses, while its near-term priorities remain tied to developing its brilaroxazine treatment and managing its capital resources. Chief Executive Laxminarayan Bhat said the near-term focus is on obtaining Food and Drug Administration feedback on the proposed new formulation. The company links that regulatory decision to the path for its next clinical trial and a future drug application.
Research and development expenses totaled $1,198,460 in the third quarter, compared with $2,131,444 in the same period of 2025. General and administrative expenses were $1,234,058, down from $1,898,397 a year earlier. The declines in both items coincided with the narrower year-over-year net loss, reflecting lower reported expenses during the quarter. Meanwhile, cash and cash equivalents stood at $17,458,418 on September 30, compared with $14,438,792 on December 31, 2025. Financing remains relevant to the development plans, as the company made the start of patient enrollment in its next trial contingent on obtaining additional funding.
Reviva is awaiting FDA feedback in the fourth quarter of 2026 on using the new formulation of brilaroxazine in the phase 3 RECOVER-2 trial, as well as in a future application for approval to treat schizophrenia. After receiving the feedback, the company plans to begin a bioequivalence study in the first quarter of 2027. It aims to begin patient enrollment in RECOVER-2 during the first half of 2027, subject to additional funding. Bhat said obtaining the regulator’s view is the company’s near-term focus. These milestones place the regulatory and clinical sequence among the main items ahead following the quarterly results announcement.
Reviva said a patent application for its new brilaroxazine formulation, covering the composition of matter, received priority review from the U.S. Patent and Trademark Office. The company added that the application could extend patent protection through 2046. In trading, RVPH shares closed at $0.34 on November 12, according to EL7 data. The company previously said its shares began trading on the OTCQB market on May 14, 2026, after trading on Nasdaq was suspended. Reviva expects to file an application seeking to relist its shares on Nasdaq during the first half of 2027. It also said share and per-share figures were adjusted retroactively to reflect a 1:20 reverse stock split that took effect on March 9, 2026.