Reviva Pharmaceuticals Announces $10 Million Public Offering

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Reviva Pharmaceuticals Holdings, Inc., a late-stage pharmaceutical company developing therapies for central nervous system, inflammatory, and cardiometabolic diseases, has announced the pricing of a $10 million public offering. The company will sell 6,666,667 shares of common stock (or equivalents) along with Series G and Series H warrants to purchase additional shares.

Why it matters

The funds raised will allow Reviva to advance its pipeline, including a planned Phase 3 trial for its lead drug candidate brilaroxazine in schizophrenia. As a late-stage biotech, securing this capital is crucial for Reviva to continue developing potential new treatments for unmet medical needs.

The details

The offering is priced at $1.50 per share and accompanying warrants. The Series G Warrants will have a 5-year term and the Series H Warrants a 12-month term, both with an exercise price of $1.50 per share. Reviva intends to use the net proceeds to fund R&D, including the RECOVER-2 Phase 3 trial for brilaroxazine, as well as for general corporate purposes.

• The offering is expected to close on or about March 20, 2026.
• Reviva filed the effective shelf registration statement on February 13, 2024.

What’s next

Reviva expects to use the net proceeds from the offering, along with its existing cash, to fund its planned Phase 3 trial for brilaroxazine in schizophrenia and for general corporate purposes.