Revive Therapeutics Ltd - RVVTF stock
From the company’s website, Revive Therapeutics Limited (CSE: RVV, OTC: RVVTF) is a life sciences company established in 2012 and headquartered in Toronto, Canada. “The company focuses on the research and development of therapeutics for rare disorders and infectious diseases. The company is developing Bucillamine, which is in Phase 3 clinical study for the treatment of infectious diseases, including influenza and COVID-19; Psilocybin that is in Phase 1 clinical study for treating methamphetamine use disorder; Psilocin for the treatment of depression, anxiety, bipolar disorder, bulimia and anorexia nervosa, and other diseases; and cannabidiol for treating autoimmune hepatitis and ischemia and reperfusion injury from organ transplantation.[1]
Revive Therapeutics Ltd has collaborated with several institutions to propel research on specific diseases. These include North Carolina State University, the University of California, and the University of Health Services Antigua.[2]
Revive faces fierce competition in offering its services with other top companies, including Panag Pharma, established in 2014; SciCann Therapeutics, 2017; Alvit LCS Pharma, 2014; and Verdemed, incorporated in 2018.
Acquisitions and mergers[edit]
In July 2013, Revive Therapeutics entered into a letter of intent to acquire Mercury Capital II Limited(TSXV:MFF.P) in a reverse merger transaction. The merger resulted in Mercury advancing 12.9 million of its shares to shareholders of Revive Therapeutics.[3]
On March 5, 2020, the company announced the completion of the acquisition of all the issued and outstanding shares of Psilocin Pharma Corp. Psilocin is a psychedelic Science company that dedicates research and development of Psilocybin-based therapeutics for significant medical needs. Revive banked all the issued and outstanding securities, an aggregate of 55 million common shares at approximately $2.7 million.[4]
On February 17, 2021, Revive gladly announced their asset purchase agreement with Newscope Capital Corporation (“Newscope”) (CSE: PHRM) (OTCQB: PHRRF) to obtain full rights of PharmaTher Inc.’s (“PharmaTher”) intellectual property (the “Acquired Assets”) of psilocybin (the “Acquisition”). The purchase saw Revive spend $10 million on aggregate. Acquired assets included all intellectual and work property from pre-clinical research events from the National Health Research Institutes (NHRI) and vital provisional patent applications with the U.S. Patent and Trademark Office.[5]
Financials[edit]
The company’s common shares were officially approved for trading on the OTCQB Market for Monday June 28, 2021.[6] For the period ending June 30, 2021, the company posted earnings per share of -$0.08, operating expense of -$18,592,000 and zero revenue.[7]
OTC Market: RVVTF • Industry: Biotech | Healthcare
