Revive Therapeutics Ltd - RVVTF stock
Profile[edit]
Revive Therapeutics Ltd., a life sciences firm, specializes in the research and development of therapies for rare medical conditions and contagious illnesses. The company provides a pharmaceutical portfolio centered around cannabinoids, with a particular focus on addressing rare inflammatory diseases. They are currently working on several projects, including Bucillamine, which is in Phase 3 clinical trials for the treatment of infectious diseases such as influenza and COVID-19; Psilocybin, in Phase 1 clinical trials for addressing methamphetamine use disorder; Psilocin, aimed at treating conditions like depression, anxiety, bipolar disorder, bulimia, anorexia nervosa, and other disorders; and cannabidiol, intended for the treatment of autoimmune hepatitis and organ transplantation-related ischemia and reperfusion injury. The company is headquartered in Toronto, Canada.[1]
The stock began trading on the OTCQC market on June 28, 2021 under the symbol RVVTF.[2]
Products[edit]
Bucillamine[edit]
Bucillamine is being developed for the treatment of Long COVID. Phase 3 clinical trials were conducted to determine the safety and efficacy of the drug. A planned study program was submitted to the FDA and the company received feedback suggesting it be submitted as new Investigational New Drug.[3] The drug is also being evaluated as a potential treatment for exposure to nerve agents.[4]
Collaborations[edit]
Revive Therapeutics Ltd has collaborated with several institutions to propel research on specific diseases. These include North Carolina State University[5], the University of California[6], and the University of Health Services Antigua.[7]
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.[8]
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.[9]
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.[10]
Financials[edit]
Funding[edit]
The company completed a two-part financing in February, 2024. The first tranche saw 26,100,000 units issued and raised $913,500. Each unit is good for one share of stock and a warrant for one-half share of stock at a price of $0.05 which may be exercised at any time over the next three years.[11] The second tranche resulted in additional capital of $1,187,000 from issuing 33,917,428 units, and each unit is the same as those from the first tranche.[12]
Financial Performance[edit]
Financial performance for Revive Therapeutics:[13]
| Year Ending | Revenue | Net Income | Earnings per Share | Total Liabilities | Cash Balance |
|---|---|---|---|---|---|
| 6/30/2023 | $0 | ($13,804,000) | ($0.05) | $3,459,000 | $3,035,000 |
| 6/30/2022 | $0 | ($16,247,000) | ($0.06) | $807,000 | $13,405,000 |
| 6/30/2021 | $0 | ($3,951,000) | ($0.04) | $610,000 | $1,014,000 |
| 6/30/2020 | $0 | ($1,028,000) | ($0.02) | $246,000 | $363,000 |
- ↑ Yahoo Finance. RVVTF Stock Profile. Retrieved on 1/4/2024.
- ↑ GlobeNewswire. Revive Therapeutics Approved to Trade on the OTCQB Market. June 25, 2021.
- ↑ Synapse. Revive Therapeutics Updates on FDA Type C Meeting for Bucillamine Long COVID Study. July 25, 2024. Archive link.
- ↑ BioSpace. Revive Therapeutics Provides Corporate Update. March 12, 2024.
- ↑ Psychedelic Alpha. Revive Therapeutics Announces Research Collaboration with North Carolina State University for Natural Biosynthesis Enzymatic Platform To Develop Psilocybin. January 14, 2021.
- ↑ BioSpace. Revive Therapeutics Enters Into Research Agreement with UCSF For Bucillamine As Potential Treatment For Severe COVID-19. May 3, 2021.
- ↑ GlobeNewswire. Revive Collaborates With University of Health Sciences Antigua To Pioneer Clinical Research of Psychedelics. June 17, 2021.
- ↑ GlobeNewswire. Revive Announces Closing of the Acquisition of Psilocin Pharma Corp. May 5, 2020.
- ↑ GlobeNewswire. Revive Therapeutics Acquires Unique Psilocybin Assets. February 17, 2021.
- ↑ Market Screener. Revive Therapeutics Inc. completed the acquisition of Mercury Capital II Limited (TSXV:MFF.P) in a reverse merger transaction. December 29, 2013.
- ↑ Globe Newswire. Revive Therapeutics Ltd. Announces Closing of the First Tranche of Its Private Placement for Gross Proceeds of $913,500. January 31, 2024.
- ↑ Globe Newswire. Revive Therapeutics Ltd. Announces Closing of the Second and Final Tranche of Its Private Placement for Gross Proceeds of $1,187,110. February 26, 2024.
- ↑ OTC Markets. RVVTF Financials. Retrieved on 1/4/2024.
OTC Symbol: RVVTF | OTC Tier: OTCQB
