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Tenzing Acquisition Corp. (TZACU)

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11.50-12.20 (-51.48%)
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Previous Close23.70
Open19.80
Bid0.00 x 1100
Ask0.00 x 900
Day's Range10.90 - 19.80
52 Week Range10.20 - 23.70
Volume4,516
Avg. Volume993
Market Cap29.343M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
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1y Target EstN/A
  • Reviva Announces Full Details of Positive Phase 2 Clinical Trial Results for Acute Schizophrenia
    GlobeNewswire

    Reviva Announces Full Details of Positive Phase 2 Clinical Trial Results for Acute Schizophrenia

    Met endpoints for safety and efficacy in 234 patients’ clinical trial with Acute Schizophrenia or Schizoaffective DisorderMet primary endpoint of reduction in Positive and Negative Syndrome Scale (PANSS) total score for SchizophreniaMitigated positive symptoms and negative symptomsImproved social functioning and cognition.No metabolic (weight gain, elevated blood sugar, increase in lipids), no endocrine (hypothyroidism, hyperprolactinemia) side effects and no increase in suicidal ideation compared to placebo. CUPERTINO, Calif., April 26, 2021 (GLOBE NEWSWIRE) -- Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) (along with its subsidiaries, “Reviva” or the “Company”), a clinical-stage pharmaceutical company developing therapies that seek to address unmet medical needs in the areas of central nervous system (CNS), cardiovascular, metabolic, and inflammatory diseases, today announced the full details of its Phase 2 clinical trial for its lead drug candidate, RP5063 (brilaroxazine) for Acute Schizophrenia. Brilaroxazine has a unique pharmacology profile against key serotonin (5-HT) and dopamine (D) receptors, which Reviva believes can modulate and stabilize the D/5-HT system. Brilaroxazine demonstrated high affinity and selectivity for key serotonin receptors (5-HT1A/2A/2B/7), as it is pharmacologically different from other antipsychotics through its combination of potent affinity and selectivity for target receptors implicated for schizophrenia and its comorbid symptoms. In its randomized, double-blind, placebo-controlled, multicenter Phase 2 trial to assess the safety and efficacy of brilaroxazine in 234 subjects with acute exacerbation of schizophrenia or schizoaffective disorder, brilaroxazine met its primary endpoint, which was reduction in total Positive and Negative Syndrome Scale (PANSS) at the end of the treatment from baseline versus placebo. The drug candidate also met all safety endpoints including clinical, labs, body weight, prolactin, lipids, fasting glucose, and EKG. The PANSS total score was reduced by 20 points, a statistically significant treatment difference from the placebo. Brilaroxazine also mitigated positive symptoms and negative symptoms, and improved social functioning and cognition. Importantly, the FDA has agreed to consider a potential ‘Superior Safety’ label claim, if there is a positive outcome on a relevant endpoint in a pivotal Phase 3 clinical study in schizophrenia. Chief Executive Officer, Laxminarayan Bhat, PhD, commented: “Schizophrenia affects about 3.5 million people in the U.S. and 20 million globally, yet we believe there are currently no therapies that adequately address the complex mix of positive symptoms, negative symptoms, mood, and cognitive impairment associated with Schizophrenia. We are very excited about our promising phase 2 clinical data and the potential for our drug candidate to address major unmet needs associated with current treatments.” Dr. Bhat also added, “In addition to the suboptimal efficacy of current antipsychotic treatments, patients also suffer from side effects and poor tolerability, which include side effects such as akathisia, weight gain/obesity, diabetes, high cholesterol, hypothyroidism and sexual dysfunction. Moreover, we estimate discontinuation/non-compliance rates at 30 to 45% in the acute phase treatment and up to 74% in the long-term treatment of stable schizophrenia patients. Our phase 2 data shows that brilaroxazine potentially can mitigate the negative side effects of current treatments and ultimately that would hopefully improve patient’s compliance to the treatment. We have published several research papers on the results of brilaroxazine’s pharmacology, and the clinical phase 1 and phase 2 studies in peer reviewed journals (https://revivapharma.com/publications/). About Reviva Reviva is a clinical-stage biopharmaceutical company that discovers, develops, and seeks to commercialize next-generation therapeutics for diseases representing unmet medical needs and burdens to society, patients, and their families. Reviva’s current pipeline focuses on the central nervous system, respiratory and metabolic diseases. Reviva’s pipeline currently has two drug candidates, RP5063 (brilaroxazine) and RP1208. Both are new chemical entities discovered in-house. Reviva has been granted composition of matter patents for both RP5063 and R1208 in the United States (U.S.), Europe, and several other countries. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act, as amended, including those relating to the Company’s product development, clinical and regulatory timelines and expenses, market opportunity, ability to raise sufficient funding, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential, “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Corporate Contact:Reviva Pharmaceuticals Holdings, Inc.Laxminarayan Bhat, PhDwww.revivapharma.com

  • Reviva Pharmaceuticals Holdings, Inc. Reports 2020 Financial Results and Provides Corporate Update
    GlobeNewswire

    Reviva Pharmaceuticals Holdings, Inc. Reports 2020 Financial Results and Provides Corporate Update

    -Closed Merger with Tenzing Acquisition Corp and publicly listed on NASDAQ Capital Market- -Plans to initiate a pivotal Phase 3 trial in schizophrenia in mid-2021, assuming fundraising goals achieved- CUPERTINO, Calif., March 22, 2021 (GLOBE NEWSWIRE) -- Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) (along with its subsidiaries, “Reviva” or the “Company”), a clinical-stage pharmaceutical company developing therapies that seek to address unmet medical needs in the areas of central nervous system (CNS), cardiovascular, metabolic, and inflammatory diseases, today announced its financial results for 2020 and provided a corporate update. “We are thrilled to enter this new year as a public company following the recent close of our merger in December. Following our listing on the NASDAQ Capital Market, we believe our interactions with the investor community and strategic alliances have gained significant momentum. This inflection point represents the progress we have made with our innovative pipeline,” said Laxminarayan Bhat, Ph.D., Founder, President, and CEO of Reviva. “We continue to drive forward with our lead asset, brilaroxazine (RP5063), as our primary focus is to complete the clinical development of brilaroxazine for the treatment of acute and maintenance schizophrenia. With the previous successful completion of our Phase 2 trial in patients with acute schizophrenia, we are excited at the prospect of bringing brilaroxazine into a Phase 3 clinical trial in mid-2021, assuming the Company achieves its fundraising goals. We look forward to providing additional updates as we continue to drive further innovation in our pipeline and intend to advance our late-stage clinical programs.” 2020 Full Year Highlights and Recent Developments Clinical Developments Ready for Phase 3 study of brilaroxazine for patients with schizophreniaReviva previously completed a Phase 2 study of brilaroxazine in patients with acute schizophrenia and schizoaffective disorders. Brilaroxazine met its primary endpoint of reduction in PANSS total score and was well-tolerated. Reviva previously had a successful End-of-Phase 2 (EOP2) meeting with FDA and the agency agreed to consider granting brilaroxazine a “Superior Safety Label Claim” for the treatment of schizophrenia if there is a positive outcome on a relevant endpoint in a pivotal Phase 3 study in schizophrenia. Reviva is planning for a multi-center Phase 3 study of RP5063 that is expected to commence in mid-2021, assuming completion of the Company’s fundraising goals. Prepared for Phase 2 studies of brilaroxazine for patients with pulmonary arterial hypertension (PAH) and idiopathic pulmonary fibrosis (IPF)Reviva has been granted Orphan Drug Designation for brilaroxazine for the treatment of PAH and IPF. The FDA has also previously reviewed and provided guidance on the Phase 2/3 clinical development of RP5063 and a potential Disease Modifying Agent label. Extensive Intellectual PropertyReviva owns an extensive patent portfolio that includes issued patents and pending patent applications covering compositions of matter and methods of use of our product candidates RP5063 and RP1208, as well as related compounds. Our robust portfolio consists of 60 granted patents and 22 pending patent applications in the United States and in foreign countries as of December 31, 2020. Enhanced Financial Profile Tenzing Acquisition Corp Merger AgreementIn December 2020, Reviva closed a merger with Tenzing Acquisition Corp., a special purpose acquisition company. Common stock of the merged company commenced trading on the NASDAQ Capital Market under the new ticker symbol “RVPH” as of December 15, 2020. Expanded Leadership TeamIn October 2020, Reviva appointed Narayan Prabhu as Chief Financial Officer. Mr. Prabhu brings over 20 years of finance leadership and experience in biotechnology and information technology at both Fortune 500 companies and early-stage ventures. Prior to Reviva, he served as the Chief Financial Officer at Sony Biotechnology, a biotechnology company focused on reagents, flow cytometry, and spectral imaging for advanced biomedical and immunotherapy research. Mr. Prabhu received his B.S. in Accounting & Finance from Indiana University at Bloomington - Kelley School of Business and MBA from the University of California at Berkeley - Haas School of Business. Board of Advisors Daphne Karydas – Strategic Finance and Business DevelopmentJohn Kane, MD – Neuropsychiatry - Schizophrenia, Bipolar and MDDLeslie Citrome – Neuropsychiatry - Schizophrenia, Bipolar and MDDMartin Kolb, MD, PhD – Pulmonary Medicine – Idiopathic pulmonary fibrosis (IPF)Roham Zamanian, MD – Pulmonary Medicine – Pulmonary arterial hypertension (PAH) Anticipated Events and Targeted Milestones for 2021 Meet with the FDA to discuss final study design of the Phase 3Initiate Phase 3 Double-blind, Placebo-controlled, Multicenter Trial in 360 patients, assuming the Company achieves its fundraising goalsPursue partnership and financing opportunities for the development of our pipelineEvaluate grant and other non-dilutive financing opportunities for our product candidates from Federal and State Healthcare Agencies and Foundations 2020 Financial Results The Company reported a net loss of approximately $3.8 million, or $1.24 per share, for the year ended December 31, 2020, compared to a net loss of approximately $847,000, or $0.31 per share, for the year ended December 31, 2019. Net cash provided by financing activities in the year ended December 31, 2020 of $12.5 million primarily related to proceeds of $9.4 million from the close of the merger and $3.1 million from the issuance of convertible promissory notes. As of December 31, 2020, the Company’s cash and cash equivalents totaled approximately $8.8 million compared to approximately $193 as of December 31, 2019. Reviva believes that based on the current operating plan and financial resources, the Company’s cash and cash equivalents at December 31, 2020 will be sufficient to cover general operating expenses through 2021. About RevivaReviva is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize next-generation therapeutics for diseases representing unmet medical needs and burdens to society, patients, and their families. Reviva’s current pipeline focuses on the central nervous system, respiratory and metabolic diseases. Reviva’s pipeline currently includes two drug candidates, RP5063 (brilaroxazine) and RP1208. Both are new chemical entities discovered in-house. Reviva has been granted composition of matter patents for both RP5063 and R1208 in the United States (U.S.), Europe, and several other countries. Forward-Looking StatementsThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act, as amended, including those relating to the Company’s product development, clinical and regulatory timelines and expenses, market opportunity, ability to raise sufficient funding, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential, “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Corporate Contact:Reviva Pharmaceuticals Holdings, Inc.Laxminarayan Bhat, PhD www.revivapharma.com Investor Relations Contact:LifeSci Advisors, LLCBruce Macklebmackle@lifesciadvisors.com

  • Reviva Pharmaceuticals Holdings, Inc. to Present at the Maxim Group Inaugural 2021 Emerging Growth Virtual Conference
    GlobeNewswire

    Reviva Pharmaceuticals Holdings, Inc. to Present at the Maxim Group Inaugural 2021 Emerging Growth Virtual Conference

    CUPERTINO, Calif., March 11, 2021 (GLOBE NEWSWIRE) -- Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) (along with its subsidiaries, “Reviva” or the “Company”), a clinical-stage pharmaceutical company developing therapies that seek to address unmet medical needs in the areas of central nervous system (CNS), cardiovascular, metabolic, and inflammatory diseases, today announced that it will present at the Maxim Group Inaugural Emerging Growth Virtual Conference hosted by M-Vest. The Maxim Group conference will take place March 17-19, 2021, with pre-recorded presentations available on-demand through the conference portal here: Inaugural Emerging Growth Virtual Conference. In addition to Reviva’s pre-recorded presentation, the Company will also participate in a live fireside chat with Jason McCarthy (details below). Date: Wednesday, March 17, 2021Time: 4:30 – 5:00 pm ET Webcast: Available through the conference portal HERE Webcasts of the presentation and fireside chat can also be accessed through the “News and Events” section of the Reviva Investor website. About RevivaReviva is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize next-generation therapeutics for diseases representing unmet medical needs and burdens to society, patients, and their families. Reviva’s current pipeline focuses on the central nervous system, respiratory and metabolic diseases. Reviva’s pipeline currently has two drug candidates, RP5063 (Brilaroxazine) and RP1208. Both are new chemical entities discovered in-house. Reviva has been granted composition of matter patents for both RP5063 and R1208 in the United States (U.S.), Europe, and several other countries. Corporate Contact:Reviva Pharmaceuticals Holdings, Inc.Laxminarayan Bhat, PhD www.revivapharma.com Investor Relations Contact:LifeSci Advisors, LLCBruce Mackle(929) 469-3859bmackle@lifesciadvisors.com