PatentMay 13, 2026, 04:37 PM
Reviva Pharma Files Patent for Brilaroxazine, Extends Exclusivity to 2046
AI Summary
Reviva Pharmaceuticals filed a provisional patent application for a new form of brilaroxazine, aiming to extend commercial exclusivity through 2046. The company anticipates FDA feedback on this new form for the RECOVER-2 Phase 3 trial by mid-2026, with patient enrollment expected to begin in Q3 2026. For Q1 2026, Reviva reported a net loss of $3.2 million, an improvement from $6.4 million in Q1 2025, and increased cash and cash equivalents to $22.2 million, partly due to a $10.0 million public equity offering. However, the company's common stock will transition from Nasdaq to the OTCQB Venture Market on May 14, 2026.
Key Highlights
- Filed provisional patent application for new brilaroxazine form, extending exclusivity to 2046.
- FDA feedback on new brilaroxazine form for RECOVER-2 trial expected mid-2026.
- Initiation of patient enrollment in RECOVER-2 Phase 3 trial expected Q3 2026.
- Reported Q1 2026 net loss of $3.2 million ($0.46 per share), down from $6.4 million.
- Cash and cash equivalents increased to $22.2 million as of March 31, 2026.
- Raised $10.0 million gross proceeds from a public equity offering in March 2026.
- Common stock to transition from Nasdaq to OTCQB Venture Market on May 14, 2026.