Reviva Pharmaceuticals Prices $5 Million Offering
Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH), a late-stage pharmaceutical company developing therapies for central nervous system (CNS), inflammatory, and cardiometabolic diseases, has announced the pricing of an underwritten offering. The offering comprises 4,761,905 shares of the Company's common stock and accompanying investor warrants, with a price of $1.05 per share, priced at-the-market under Nasdaq rules. Pre-funded warrants are also included, priced at $1.0499.
Details of the Offering
The offering is expected to close soon, subject to customary conditions. Reviva anticipates receiving approximately $5.0 million in gross proceeds, which will be utilized for research and development activities related to its global, randomized 4-week Phase 3 RECOVER-2 trial, as well as for general corporate purposes.
Warrant Amendments
Reviva has also agreed to amend existing warrants held by an investor to purchase up to 4,736,561 shares of common stock. This includes a reduced exercise price of $0.7964 per share, which will be effective upon closing of the offering.
Company Overview
Reviva is dedicated to discovering and developing next-generation therapeutics for diseases with unmet medical needs. Its pipeline focuses on CNS, inflammatory, and cardiometabolic diseases and currently includes two main drug candidates, brilaroxazine (RP5063) and RP1208, both of which are new chemical entities discovered in-house.
Intellectual Property
Reviva has obtained composition of matter patents for brilaroxazine and RP1208 in several jurisdictions including the United States and Europe, solidifying its position in the biopharmaceutical landscape.
Contact Information
Corporate Contact:
Reviva Pharmaceuticals Holdings, Inc.
Laxminarayan Bhat, PhD
Website: www.revivapharma.com
Titan Partners Contact:
(929) 833-1246
Email: prospectus@titanpartnersgrp.com
Frequently Asked Questions
What is the purpose of the $5 million offering by Reviva Pharmaceuticals?
The offering is intended to fund research and development activities, including clinical trials and general corporate purposes.
What are the key drug candidates in Reviva's pipeline?
Reviva's pipeline includes two candidates: brilaroxazine (RP5063) and RP1208.
What changes were made to existing investor warrants?
Existing warrants were amended to have a reduced exercise price of $0.7964 per share, effective upon closing of the offering.
Who is acting as the bookrunner for the offering?
Titan Partners Group, a division of American Capital Partners, is the sole bookrunner for the offering.
Where can interested parties find additional information about the offering?
Further details about the offering can be found in the final prospectus supplement, which will be filed with the SEC.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/