Reviva Pharmaceuticals (RVPH)
Market Price (8/8/2026): $0 | Market Cap: $-Sector: Health Care | Industry: Biotechnology
Reviva Pharmaceuticals (RVPH)
Market Price (8/8/2026): $0Market Cap: $-Sector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -727% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. | Weak multi-year price returns2Y Excs Rtn is -143%, 3Y Excs Rtn is -171% | Penny stockMkt Price is 0.4 Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -555% High stock price volatilityVol 12M is 168% Key risksRVPH key risks include [1] a make-or-break dependence on the clinical and regulatory success of its sole late-stage drug candidate, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -727% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -143%, 3Y Excs Rtn is -171% |
| Penny stockMkt Price is 0.4 |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -17 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -555% |
| High stock price volatilityVol 12M is 168% |
| Key risksRVPH key risks include [1] a make-or-break dependence on the clinical and regulatory success of its sole late-stage drug candidate, Show more. |
Qualitative Assessment
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Updated on 8/1/2026
Reviva Pharmaceuticals (RVPH) stock has lost about 50% since 4/30/2026 because of the following key factors:
1. Delisting from Nasdaq to OTCQB significantly reduced liquidity and increased risk perception.
On May 14, 2026, Reviva Pharmaceuticals' common stock was suspended from trading on the Nasdaq Capital Market and subsequently began quotation on the OTCQB Venture Market under the same ticker symbol, RVPH. This transition carried explicit risks, as noted by the company, including limited liquidity, increased volatility, sporadic trading, and potential adverse effects on its ability to raise additional capital. The move to a less regulated exchange typically deters institutional investors and can lead to a substantial devaluation of a company's shares.
2. The FDA recommended an additional Phase 3 trial for brilaroxazine, extending development timelines and increasing costs.
In December 2025, the U.S. Food and Drug Administration (FDA) recommended that Reviva Pharmaceuticals conduct a second Phase 3 clinical trial, named RECOVER-2, for its lead schizophrenia candidate, brilaroxazine, to generate further efficacy and safety data before a New Drug Application (NDA) submission. This decision elongated the regulatory pathway and delayed potential commercialization, with patient enrollment in RECOVER-2 targeted to begin in fiscal Q3 2026. This regulatory setback created significant uncertainty and increased the overall cost and time investment in brilaroxazine's development.
Show more
Reviva Pharmaceuticals (RVPH) stock has lost about 50% since 4/30/2026 because of the following key factors:
1. Delisting from Nasdaq to OTCQB significantly reduced liquidity and increased risk perception.
On May 14, 2026, Reviva Pharmaceuticals' common stock was suspended from trading on the Nasdaq Capital Market and subsequently began quotation on the OTCQB Venture Market under the same ticker symbol, RVPH. This transition carried explicit risks, as noted by the company, including limited liquidity, increased volatility, sporadic trading, and potential adverse effects on its ability to raise additional capital. The move to a less regulated exchange typically deters institutional investors and can lead to a substantial devaluation of a company's shares.
2. The FDA recommended an additional Phase 3 trial for brilaroxazine, extending development timelines and increasing costs.
In December 2025, the U.S. Food and Drug Administration (FDA) recommended that Reviva Pharmaceuticals conduct a second Phase 3 clinical trial, named RECOVER-2, for its lead schizophrenia candidate, brilaroxazine, to generate further efficacy and safety data before a New Drug Application (NDA) submission. This decision elongated the regulatory pathway and delayed potential commercialization, with patient enrollment in RECOVER-2 targeted to begin in fiscal Q3 2026. This regulatory setback created significant uncertainty and increased the overall cost and time investment in brilaroxazine's development.
Show more
Updated on 8/1/2026
Reviva Pharmaceuticals (RVPH) stock has lost about 50% since 4/30/2026 because of the following key factors:
1. Delisting from Nasdaq to OTCQB significantly reduced liquidity and increased risk perception.
On May 14, 2026, Reviva Pharmaceuticals' common stock was suspended from trading on the Nasdaq Capital Market and subsequently began quotation on the OTCQB Venture Market under the same ticker symbol, RVPH. This transition carried explicit risks, as noted by the company, including limited liquidity, increased volatility, sporadic trading, and potential adverse effects on its ability to raise additional capital. The move to a less regulated exchange typically deters institutional investors and can lead to a substantial devaluation of a company's shares.
2. The FDA recommended an additional Phase 3 trial for brilaroxazine, extending development timelines and increasing costs.
In December 2025, the U.S. Food and Drug Administration (FDA) recommended that Reviva Pharmaceuticals conduct a second Phase 3 clinical trial, named RECOVER-2, for its lead schizophrenia candidate, brilaroxazine, to generate further efficacy and safety data before a New Drug Application (NDA) submission. This decision elongated the regulatory pathway and delayed potential commercialization, with patient enrollment in RECOVER-2 targeted to begin in fiscal Q3 2026. This regulatory setback created significant uncertainty and increased the overall cost and time investment in brilaroxazine's development.
3. Persistent capital requirements and a "going concern" warning highlighted ongoing financial vulnerability.
As of the end of fiscal Q1 2026 (March 31, 2026), Reviva Pharmaceuticals reported approximately $22.2 million in cash and cash equivalents. While this was an increase from year-end, the company projected these funds would sustain operations only into fiscal Q1 2027. Furthermore, the company explicitly noted a need for an additional $35 million in the subsequent two to three fiscal quarters to fund the latter half of the RECOVER-2 trial, signaling a substantial near-term financing risk and contributing to a "going-concern" warning.
4. Q1 2026 earnings missed analyst expectations, accompanied by significant analyst price target reductions.
Reviva Pharmaceuticals reported a net loss of $3.2 million, or $0.46 per share, for fiscal Q1 2026, announced on May 13, 2026. Although this represented a narrower loss compared to the prior year, it missed the consensus analyst estimate of ($0.36) per share by $0.11. Concurrently, several Wall Street analysts sharply reduced their price targets for RVPH, with examples including HC Wainwright cutting its target from $220 to $80, Benchmark from $280 to $140, and D. Boral Capital from $60 to $40. These downward revisions reflected diminished confidence in the company's valuation prospects.
Show less
Reviva Pharmaceuticals (RVPH) stock has lost about 50% since 4/30/2026 because of the following key factors:
1. Delisting from Nasdaq to OTCQB significantly reduced liquidity and increased risk perception.
On May 14, 2026, Reviva Pharmaceuticals' common stock was suspended from trading on the Nasdaq Capital Market and subsequently began quotation on the OTCQB Venture Market under the same ticker symbol, RVPH. This transition carried explicit risks, as noted by the company, including limited liquidity, increased volatility, sporadic trading, and potential adverse effects on its ability to raise additional capital. The move to a less regulated exchange typically deters institutional investors and can lead to a substantial devaluation of a company's shares.
2. The FDA recommended an additional Phase 3 trial for brilaroxazine, extending development timelines and increasing costs.
In December 2025, the U.S. Food and Drug Administration (FDA) recommended that Reviva Pharmaceuticals conduct a second Phase 3 clinical trial, named RECOVER-2, for its lead schizophrenia candidate, brilaroxazine, to generate further efficacy and safety data before a New Drug Application (NDA) submission. This decision elongated the regulatory pathway and delayed potential commercialization, with patient enrollment in RECOVER-2 targeted to begin in fiscal Q3 2026. This regulatory setback created significant uncertainty and increased the overall cost and time investment in brilaroxazine's development.
3. Persistent capital requirements and a "going concern" warning highlighted ongoing financial vulnerability.
As of the end of fiscal Q1 2026 (March 31, 2026), Reviva Pharmaceuticals reported approximately $22.2 million in cash and cash equivalents. While this was an increase from year-end, the company projected these funds would sustain operations only into fiscal Q1 2027. Furthermore, the company explicitly noted a need for an additional $35 million in the subsequent two to three fiscal quarters to fund the latter half of the RECOVER-2 trial, signaling a substantial near-term financing risk and contributing to a "going-concern" warning.
4. Q1 2026 earnings missed analyst expectations, accompanied by significant analyst price target reductions.
Reviva Pharmaceuticals reported a net loss of $3.2 million, or $0.46 per share, for fiscal Q1 2026, announced on May 13, 2026. Although this represented a narrower loss compared to the prior year, it missed the consensus analyst estimate of ($0.36) per share by $0.11. Concurrently, several Wall Street analysts sharply reduced their price targets for RVPH, with examples including HC Wainwright cutting its target from $220 to $80, Benchmark from $280 to $140, and D. Boral Capital from $60 to $40. These downward revisions reflected diminished confidence in the company's valuation prospects.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -50.7% change in RVPH stock from 4/30/2026 to 8/7/2026 was primarily driven by a -16.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.87 | 0.43 | -50.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 6 | 7 | -16.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
4/30/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RVPH | -50.7% | |
| Market (SPY) | 7.6% | -12.7% |
| Sector (XLV) | 13.5% | -10.0% |
Fundamental Drivers
The -92.7% change in RVPH stock from 1/31/2026 to 8/7/2026 was primarily driven by a -48.3% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.85 | 0.43 | -92.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 4 | 7 | -48.3% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RVPH | -92.7% | |
| Market (SPY) | 12.1% | 13.2% |
| Sector (XLV) | 7.5% | 9.6% |
Fundamental Drivers
The -95.4% change in RVPH stock from 7/31/2025 to 8/7/2026 was primarily driven by a -64.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312025 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.36 | 0.43 | -95.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 2 | 7 | -64.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
7/31/2025 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RVPH | -95.4% | |
| Market (SPY) | 23.4% | 12.7% |
| Sector (XLV) | 28.7% | 9.1% |
Fundamental Drivers
The -99.5% change in RVPH stock from 7/31/2023 to 8/7/2026 was primarily driven by a -84.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312023 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 94.80 | 0.43 | -99.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 1 | 7 | -84.5% |
| Cumulative Contribution | 0.0% |
Market Drivers
7/31/2023 to 8/7/2026| Return | Correlation | |
|---|---|---|
| RVPH | -99.5% | |
| Market (SPY) | 74.9% | 10.3% |
| Sector (XLV) | 29.3% | 10.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RVPH Return | -67% | 47% | 21% | -65% | -85% | -91% | -100% |
| Peers Return | -28% | -14% | 55% | -26% | 223% | 1% | 135% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| RVPH Win Rate | 33% | 42% | 33% | 25% | 33% | 50% | |
| Peers Win Rate | 47% | 50% | 48% | 43% | 60% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| RVPH Max Drawdown | -72% | -80% | -58% | -88% | -87% | -95% | |
| Peers Max Drawdown | -54% | -64% | -49% | -54% | -42% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AXSM, NBIX, NERV, RLMD, VNDA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | RVPH | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -45.0% | -7.8% |
| % Gain to Breakeven | 81.7% | 8.5% |
| Time to Breakeven | 18 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.4% | -9.5% |
| % Gain to Breakeven | 14.1% | 10.5% |
| Time to Breakeven | 16 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -13.4% | -6.7% |
| % Gain to Breakeven | 15.5% | 7.1% |
| Time to Breakeven | 5 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -79.3% | -24.5% |
| % Gain to Breakeven | 383.3% | 32.4% |
| Time to Breakeven | 62 days | 427 days |
In The Past
Reviva Pharmaceuticals's stock fell -45.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 81.7% gain to breakeven.
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| Event | RVPH | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -45.0% | -7.8% |
| % Gain to Breakeven | 81.7% | 8.5% |
| Time to Breakeven | 18 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -79.3% | -24.5% |
| % Gain to Breakeven | 383.3% | 32.4% |
| Time to Breakeven | 62 days | 427 days |
In The Past
Reviva Pharmaceuticals's stock fell -45.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 81.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Reviva Pharmaceuticals (RVPH)
Reviva Pharmaceuticals Holdings, Inc. (RVPH) is a clinical-stage biopharmaceutical company dedicated to discovering, developing, and commercializing innovative new therapeutics. The company focuses on addressing significant unmet medical needs across a diverse range of disease areas, including central nervous system disorders, respiratory conditions, cardiovascular diseases, metabolic disorders, and inflammatory diseases. As a clinical-stage company, its primary activity involves advancing drug candidates through various stages of clinical trials to bring them closer to market.
The company's lead product candidate is RP5063, which represents its most advanced asset. RP5063 is currently in Phase III clinical trials for the treatment of schizophrenia, indicating it is in a late stage of development. Beyond schizophrenia, RP5063 has also completed Phase I clinical trials for a broad spectrum of other conditions, including bipolar disorder, major depressive disorder, attention–deficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia or Alzheimer's disease, Parkinson's disease psychosis, pulmonary arterial hypertension, and idiopathic pulmonary fibrosis. This highlights its potential to treat a wide array of neurological, psychiatric, and respiratory conditions.
In addition to RP5063, Reviva Pharmaceuticals is also developing RP1208, which is in earlier-stage pre-clinical development studies for the treatment of depression and obesity. The company's primary customers are ultimately patients suffering from these various complex and often debilitating conditions, and its target markets encompass the global pharmaceutical sectors for neurological, psychiatric, respiratory, and metabolic disorders where current treatments may be inadequate. Reviva aims to capture market share by offering next-generation therapeutic options to improve patient outcomes.
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- Think of it as a smaller, clinical-stage version of a large pharmaceutical company such as Eli Lilly or Pfizer, with its main focus on getting a schizophrenia drug through the final stages of clinical trials.
- It's like a biotech startup aspiring to be the next Amgen or Gilead, with its future largely depending on the success of its advanced schizophrenia drug and other pipeline candidates.
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- RP5063: A drug candidate in Phase III clinical trials for schizophrenia, also being developed for bipolar disorder, major depressive disorder, ADHD, dementia-related psychosis, Parkinson's disease psychosis, pulmonary arterial hypertension, and idiopathic pulmonary fibrosis.
- RP1208: A drug candidate in pre-clinical development studies for the treatment of depression and obesity.
AI Analysis | Feedback
Reviva Pharmaceuticals Holdings, Inc. (RVPH) is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of next-generation therapeutics. As described, its lead product candidate, RP5063, is in Phase III clinical trials, and other candidates like RP1208 are in pre-clinical development.
Due to its current stage as a clinical-stage company, Reviva Pharmaceuticals does not yet have commercialized products available for sale on the market. Therefore, the company does not have major customers in the traditional sense of selling therapeutics to other companies (such as distributors, hospitals, or pharmacies) or directly to individuals (patients).
Its primary activities involve research and development, conducting clinical trials, and advancing its drug candidates through the regulatory approval process. Potential future revenue streams and "customers" would emerge upon successful commercialization of its product candidates, either directly or through licensing agreements with other pharmaceutical companies.
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Laxminarayan Bhat, PhD, Founder, President and Chief Executive Officer
Dr. Bhat founded Reviva Pharmaceuticals in 2006. He has over 20 years of experience in drug discovery and development, having held research positions at XenoPort, ARYx Therapeutics, and Higuchi Biosciences Center prior to founding Reviva. He received a global post-doctoral training at the University of Kansas, USA, the Georg-August-Universität, Göttingen, Germany, and the Université du Maine, France. In 1995, he was selected for the Alexander von Humboldt fellowship. Dr. Bhat has authored over 25 research papers and is an inventor on over 100 granted patents.
Narayan Prabhu, Chief Financial Officer
Mr. Prabhu brings over 20 years of finance leadership and experience in biotechnology, life sciences, and information technology. Prior to Reviva, he served as the Chief Financial Officer at Sony Biotechnology, where he led the global expansion of the company and commercialized several products. Mr. Prabhu also served as an M&A Controller at Cisco, leading the finance acquisition and integration of more than a dozen companies, including multi-billion-dollar acquisitions in Network Security and Software. He is a Certified Public Accountant and holds a Bachelor of Science degree in Accounting and Finance from Indiana University at Bloomington – Kelley School of Business and an MBA from the University of California at Berkeley – Haas School of Business.
Seema Bhat, Vice President, Program and Portfolio
Seema Bhat has extensive experience in the pharmaceutical industry. She has been with Reviva Pharmaceuticals since at least 2011, serving as Manager of R&D Programs and IP from February 2011 to 2014, and then as Director of R&D Programs and IP from March 2014 to 2019, before becoming Vice President of Program and Portfolio in March 2020. Prior to joining Reviva Pharmaceuticals, she worked as a Medicinal Chemist at Genentech from 2008 to 2010. Seema Bhat holds a Bachelor's and Master's degree in Organic Chemistry from Central University in NEHU, India, and completed a program in Clinical Trials Design and Management at the University of California, Santa Cruz.
Dr. Bhat founded Reviva Pharmaceuticals in 2006. He has over 20 years of experience in drug discovery and development, having held research positions at XenoPort, ARYx Therapeutics, and Higuchi Biosciences Center prior to founding Reviva. He received a global post-doctoral training at the University of Kansas, USA, the Georg-August-Universität, Göttingen, Germany, and the Université du Maine, France. In 1995, he was selected for the Alexander von Humboldt fellowship. Dr. Bhat has authored over 25 research papers and is an inventor on over 100 granted patents.
Narayan Prabhu, Chief Financial Officer
Mr. Prabhu brings over 20 years of finance leadership and experience in biotechnology, life sciences, and information technology. Prior to Reviva, he served as the Chief Financial Officer at Sony Biotechnology, where he led the global expansion of the company and commercialized several products. Mr. Prabhu also served as an M&A Controller at Cisco, leading the finance acquisition and integration of more than a dozen companies, including multi-billion-dollar acquisitions in Network Security and Software. He is a Certified Public Accountant and holds a Bachelor of Science degree in Accounting and Finance from Indiana University at Bloomington – Kelley School of Business and an MBA from the University of California at Berkeley – Haas School of Business.
Seema Bhat, Vice President, Program and Portfolio
Seema Bhat has extensive experience in the pharmaceutical industry. She has been with Reviva Pharmaceuticals since at least 2011, serving as Manager of R&D Programs and IP from February 2011 to 2014, and then as Director of R&D Programs and IP from March 2014 to 2019, before becoming Vice President of Program and Portfolio in March 2020. Prior to joining Reviva Pharmaceuticals, she worked as a Medicinal Chemist at Genentech from 2008 to 2010. Seema Bhat holds a Bachelor's and Master's degree in Organic Chemistry from Central University in NEHU, India, and completed a program in Clinical Trials Design and Management at the University of California, Santa Cruz.
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Key Risks for Reviva Pharmaceuticals (RVPH)
- Clinical Trial Success and Regulatory Approval: Reviva Pharmaceuticals' primary risk stems from the uncertain outcome of its clinical trials and the subsequent regulatory approval process. The company's lead product candidate, brilaroxazine (RP5063), is in late-stage clinical development for schizophrenia. Despite positive data from its Phase III RECOVER-1 trial and an open-label extension study, the U.S. Food and Drug Administration (FDA) has recommended an additional Phase III trial (RECOVER-2) before a New Drug Application (NDA) submission. This significantly delays potential market entry and adds substantial risk, as success in clinical trials is not guaranteed, and regulatory approval is a complex and often unpredictable hurdle. The failure of brilaroxazine to achieve regulatory approval would have a severe negative impact on the company.
- Funding and Dilution: As a clinical-stage biopharmaceutical company with no current product revenue, Reviva Pharmaceuticals operates with a significant cash burn and has a limited cash runway. The recent FDA recommendation for an additional Phase III trial for brilaroxazine will necessitate substantial further investment, increasing the company's capital requirements. This almost certainly means the company will need to raise additional capital, likely through further equity offerings, which would lead to significant dilution for existing shareholders, a trend already observed with past financings. The ability to secure sufficient funding is critical for the continued development and potential commercialization of its drug candidates.
- Competition: Reviva Pharmaceuticals operates in highly competitive therapeutic areas, particularly for schizophrenia, where its lead candidate brilaroxazine is being developed. The global schizophrenia market already includes established pharmaceutical companies with approved products, such as Otsuka's Abilify and Johnson & Johnson's Caplyta, as well as other companies developing late-stage treatments. If approved, brilaroxazine would need to effectively differentiate itself and compete for market share against these existing and emerging therapies. Furthermore, the original patent for brilaroxazine is set to expire in 2030, which could expose the company to generic competition in the future.
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Reviva Pharmaceuticals (RVPH) targets several significant addressable markets with its main product candidates, RP5063 and RP1208.
RP5063 Product Candidate:
- Schizophrenia: The global schizophrenia market was valued at approximately USD 9,480.4 million in 2023 and is projected to reach USD 15,236.9 million by 2034. Another estimate places the global market at USD 8.18 billion in 2024, with a projection to reach USD 11.19 billion by 2030. The United States market alone for schizophrenia was nearly USD 6 billion in 2024.
- Bipolar Disorder: The global bipolar disorder market size was valued at USD 4.88 billion in 2023 and is projected to grow to USD 7 billion by 2033. Another source indicates the global market was USD 5.02 billion in 2024, projected to reach USD 6.27 billion by 2033. The market across the seven major markets (7MM: the US, France, Germany, Italy, Spain, the UK, and Japan) is expected to grow from USD 5.6 billion in 2024 to USD 9.4 billion in 2034.
- Major Depressive Disorder (MDD): The global market for Major Depressive Disorder treatment is anticipated to grow from USD 12,000 million in 2025 to USD 15,800 million by 2035. The global MDD market size reached approximately US$ 6.84 billion in 2024 and is expected to reach US$ 14.57 billion by 2033. In 2023, the 7MM market size was approximately USD 7,165 million.
- Attention–Deficit/Hyperactivity Disorder (ADHD): The global attention deficit hyperactivity disorder market size was valued at USD 15.8 billion in 2023 and is estimated to grow to USD 24.6 billion by 2032. Another report estimates the global ADHD therapeutics market was valued at USD 35.17 billion in 2024, with a projection to reach USD 76.96 billion by 2033.
- Behavioral and Psychotic Symptoms of Dementia or Alzheimer's Disease (Psychosis in Alzheimer's Disease): The market for psychosis in Parkinson's disease and Alzheimer's disease across the seven major markets (7MM) was valued at approximately USD 1.29 billion in 2023. The U.S. market for this condition was approximately USD 868 million in 2023.
- Parkinson's Disease Psychosis: The seven major Parkinson's disease psychosis markets reached a value of USD 526.1 million in 2024 and are expected to reach USD 694.3 million by 2035. The total Parkinson's disease psychosis market size in 7MM was approximately USD 665 million in 2023.
- Pulmonary Arterial Hypertension (PAH): The global pulmonary arterial hypertension market size is projected to reach approximately USD 13.50 billion by 2034, from USD 8.48 billion in 2025. Other estimates place the global market at USD 8.3 billion in 2024, growing to USD 13.9 billion by 2034. The U.S. pulmonary arterial hypertension market size was USD 2.43 billion in 2025 and is expected to reach around USD 3.90 billion by 2034.
- Idiopathic Pulmonary Fibrosis (IPF): The global idiopathic pulmonary fibrosis market size was valued at around USD 3,763.90 million in 2023 and is predicted to grow to approximately USD 6,804.23 million by 2032. Another source indicates the global market was USD 4.54 billion in 2024 and is projected to reach USD 9.23 billion by 2033. The total market size in the 7MM was approximately USD 3,300 million in 2023.
RP1208 Product Candidate:
- Depression: The global depression market is expected to increase from an estimated USD 9.9 billion in 2020 to over USD 13.3 billion by 2030. (Note: Major Depressive Disorder, as covered above, is a significant component of the broader depression market).
- Obesity: The global market for anti-obesity medications reached USD 6 billion on an annualized basis in early 2023 and could grow to USD 100 billion by 2030. The global obesity treatment market size was USD 15.74 billion in 2024 and is expected to reach around USD 98.26 billion by 2034. The U.S. obesity treatment market size was valued at USD 5.31 billion in 2024 and is expected to reach around USD 33.16 billion by 2034.
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Here are 3-5 expected drivers of future revenue growth for Reviva Pharmaceuticals (RVPH) over the next 2-3 years:
- Advancement and Potential Regulatory Approval of Brilaroxazine (RP5063) for Schizophrenia: The initiation of the RECOVER-2 Phase 3 trial in the first half of 2026, following the FDA's recommendation for additional efficacy and safety data, is a critical step. While this delays the New Drug Application (NDA) filing timeline to at least 2027, successful completion of this trial and subsequent regulatory approval in 2028 or beyond is the primary long-term revenue driver. Analysts project significant revenue for Reviva Pharmaceuticals starting in 2028, reflecting the market's expectation of brilaroxazine's potential entry for schizophrenia.
- Strategic Collaborations and Licensing Agreements: As a clinical-stage biopharmaceutical company, Reviva Pharmaceuticals emphasizes strategic collaborations and partnerships as a key component of its product development and growth plan. The company is actively seeking partnership opportunities, particularly for its preclinical programs. Such agreements, potentially for brilaroxazine across its various indications or for RP1208, could generate upfront payments and milestone-based revenue within the next 2-3 years, especially as financing is needed for ongoing clinical trials.
- Expansion of Brilaroxazine (RP5063) into Additional Therapeutic Areas: Reviva Pharmaceuticals is developing brilaroxazine for other indications beyond schizophrenia. The drug has received Orphan Drug Designation from the U.S. FDA for Idiopathic Pulmonary Fibrosis (IPF) and Pulmonary Arterial Hypertension (PAH). Furthermore, an Investigational New Drug (IND) application submission for a liposomal-gel formulation of brilaroxazine in psoriasis is expected by the second half of 2026. Progress in these additional therapeutic areas, especially those with orphan drug designations, could lead to further development opportunities, potential partnerships, and future revenue streams.
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Share Issuance
- Reviva Pharmaceuticals completed public offerings in June and September 2025, raising approximately $10 million and $9 million in gross proceeds, respectively, through the issuance of common stock and accompanying warrants.
- The company generated approximately $6.7 million in net proceeds from the exercise of common stock warrants between October 1, 2025, and December 16, 2025.
- Stockholders approved an increase in authorized common stock to 515 million in December 2025, and a 1-for-20 reverse stock split was enacted on March 5, 2026, to address Nasdaq bid-price compliance.
Inbound Investments
- In June 2025, Reviva Pharmaceuticals raised approximately $10 million in gross proceeds from a public offering involving existing and new healthcare-focused institutional investors.
- Another public offering in September 2025 generated approximately $9 million in gross proceeds, also with participation from institutional investors.
- The company received approximately $6.7 million in net proceeds from the exercise of warrants by investors between October and December 2025.
Capital Expenditures
- Reviva Pharmaceuticals has reported consistently minimal or zero capital expenditures on physical assets over the last 3-5 years.
- As a clinical-stage biopharmaceutical company, the company's primary "investments" are in research and development activities, such as the projected $60 million for the RECOVER-2 trial, which are typically expensed rather than capitalized.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Reviva Pharmaceuticals Earnings Notes | 12/16/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 4.97 |
| Mkt Cap | 0.4 |
| Rev LTM | 108 |
| Op Inc LTM | -47 |
| FCF LTM | -33 |
| FCF 3Y Avg | -38 |
| CFO LTM | -33 |
| CFO 3Y Avg | -38 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 34.4% |
| Rev Chg 3Y Avg | 26.5% |
| Rev Chg Q | 39.5% |
| QoQ Delta Rev Chg LTM | 8.8% |
| Op Inc Chg LTM | 16.9% |
| Op Inc Chg 3Y Avg | -1.4% |
| Op Mgn LTM | -24.9% |
| Op Mgn 3Y Avg | -51.2% |
| QoQ Delta Op Mgn LTM | -1.9% |
| CFO/Rev LTM | -10.0% |
| CFO/Rev 3Y Avg | -33.6% |
| FCF/Rev LTM | -10.0% |
| FCF/Rev 3Y Avg | -35.5% |
Price Behavior
Price Behavior
| Market Price | $0.43 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 10/18/2018 | |
| Distance from 52W High | -97.4% | |
| 50 Days | 200 Days | |
| DMA Price | $0.60 | $5.39 |
| DMA Trend | down | down |
| Distance from DMA | -28.5% | -92.0% |
| 3M | 1YR | |
| Volatility | 240.3% | 175.4% |
| Downside Capture | -85.49 | 371.45 |
| Upside Capture | -436.17 | -81.53 |
| Correlation (SPY) | -12.0% | 11.6% |
RVPH Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.30 | -2.14 | -2.44 | 1.18 | 1.37 | 0.90 |
| Up Beta | 0.74 | -3.25 | -1.00 | 1.74 | 0.98 | 1.28 |
| Down Beta | -4.49 | -7.29 | -6.34 | -2.80 | 1.59 | 1.00 |
| Up Capture | -209% | 6% | -220% | -58% | -37% | -6% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 11 | 14 | 19 | 41 | 100 | 322 |
| Down Capture | 307% | -40% | -84% | 268% | 181% | 109% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 11 | 16 | 23 | 64 | 129 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RVPH | |
|---|---|---|---|---|
| RVPH | -96.4% | 174.6% | -1.14 | - |
| Sector ETF (XLV) | 28.7% | 15.5% | 1.42 | 7.1% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 17.9% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | 10.9% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -0.1% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 6.9% |
| Bitcoin (BTCUSD) | -44.2% | 42.9% | -1.23 | 19.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RVPH | |
|---|---|---|---|---|
| RVPH | -65.8% | 131.4% | -0.17 | - |
| Sector ETF (XLV) | 6.2% | 15.0% | 0.23 | 9.1% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 11.1% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | 4.1% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 0.8% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 7.5% |
| Bitcoin (BTCUSD) | 8.8% | 53.0% | 0.35 | 10.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RVPH | |
|---|---|---|---|---|
| RVPH | -47.2% | 114.2% | -0.18 | - |
| Sector ETF (XLV) | 10.1% | 16.6% | 0.49 | 5.9% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 7.8% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 2.9% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 1.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 5.2% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 8.3% |
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Earnings Returns History
Updated 6/16/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | 0.0% | 15.1% | 103.1% |
| 11/13/2025 | -7.2% | -11.3% | 17.9% |
| 8/14/2025 | 15.8% | 11.5% | -7.3% |
| 5/15/2025 | -2.3% | 25.1% | -9.1% |
| 11/14/2024 | -7.0% | 2.5% | 90.1% |
| 8/14/2024 | 4.1% | 65.3% | 62.4% |
| 5/14/2024 | 7.4% | -9.4% | -11.2% |
| 11/14/2023 | -8.8% | -18.7% | -30.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 8 | 9 |
| # Negative | 11 | 10 | 9 |
| Median Positive | 4.7% | 13.3% | 47.0% |
| Median Negative | -7.2% | -10.3% | -19.0% |
| Max Positive | 15.8% | 65.3% | 167.1% |
| Max Negative | -20.4% | -22.6% | -46.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/13/2026 | 0.0% | 15.1% | 103.1% |
| 11/13/2025 | -7.2% | -11.3% | 17.9% |
| 8/14/2025 | 15.8% | 11.5% | -7.3% |
| 5/15/2025 | -2.3% | 25.1% | -9.1% |
| 11/14/2024 | -7.0% | 2.5% | 90.1% |
| 8/14/2024 | 4.1% | 65.3% | 62.4% |
| 5/14/2024 | 7.4% | -9.4% | -11.2% |
| 11/14/2023 | -8.8% | -18.7% | -30.7% |
| 8/14/2023 | 2.4% | -0.7% | 27.6% |
| 5/15/2023 | -3.1% | -12.1% | -22.5% |
| 3/30/2023 | -10.1% | -3.9% | 47.0% |
| 11/14/2022 | -20.4% | -10.2% | -19.0% |
| 8/15/2022 | -11.6% | 18.7% | 167.1% |
| 5/16/2022 | 8.0% | 3.8% | -25.6% |
| 3/15/2022 | 4.7% | 6.4% | 27.9% |
| 11/15/2021 | -2.6% | -10.3% | -9.0% |
| 8/16/2021 | -4.6% | -4.9% | 15.4% |
| 3/22/2021 | -7.5% | -22.6% | -46.9% |
| SUMMARY STATS | |||
| # Positive | 7 | 8 | 9 |
| # Negative | 11 | 10 | 9 |
| Median Positive | 4.7% | 13.3% | 47.0% |
| Median Negative | -7.2% | -10.3% | -19.0% |
| Max Positive | 15.8% | 65.3% | 167.1% |
| Max Negative | -20.4% | -22.6% | -46.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/30/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/03/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 04/15/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/13/2026 | 10-Q |
| 12/31/2025 | 03/30/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 04/03/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 04/15/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/15/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 03/15/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 03/22/2021 | 10-K |
| 11/30/2020 | 01/14/2021 | 10-Q |
| 12/31/2019 | 05/07/2021 | 10-K/A |
Recent Forward Guidance
Updated 7/27/2026Latest: Q1 2026 Earnings Reported 5/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Initiation of patient enrollment in RECOVER-2 | |||||||
| 2026 FDA feedback on new form of brilaroxazine | |||||||
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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