Reviva Pharmaceuticals Holdings Inc (NASDAQ: RVPH) is a clinical-stage biopharmaceutical company developing small-molecule drug candidates for central nervous system disorders and other serious diseases. The company has no approved products and generates no product revenue, funding operations entirely through equity and convertible security issuances. Its lead candidate, brilaroxazine, is in clinical development for schizophrenia (including a planned RECOVER-2 Phase 3 trial with a subsequent NDA filing), and is also being studied for pulmonary arterial hypertension (PAH), idiopathic pulmonary fibrosis (IPF), bipolar disorder (BD), major depressive disorder (MDD), Alzheimer's disease (AD), Parkinson's disease (PD), and ADHD/ADD, per the 10-K filed 2026-03-30. A second candidate, RP1208, is in development for depression and obesity. As of December 31, 2025, the company held approximately $14.4 million in cash and cash equivalents, with management estimating adequate runway into early 2027 following the March 2026 public offering that raised $10.0 million in gross proceeds. Substantial doubt about the company's ability to continue as a going concern is disclosed in the filing.

Revenue model

No product revenue. Operations funded entirely through issuance of equity and convertible equity securities. The March 2026 public offering issued common stock, pre-funded warrants, and Series G and Series H warrants for aggregate gross proceeds of $10.0 million.

Products and services

Brilaroxazine: clinical-stage small molecule in development for acute and maintenance schizophrenia (planned Phase 3 RECOVER-2 trial), PAH, IPF, BD, MDD, AD, PD, and ADHD/ADD. RP1208: clinical-stage candidate in development for depression and obesity. No products are approved or commercialized as of the 10-K filed 2026-03-30.

Customers and end markets

No commercial customers. Target end markets include patients with schizophrenia, pulmonary arterial hypertension, idiopathic pulmonary fibrosis, bipolar disorder, major depressive disorder, Alzheimer's disease, Parkinson's disease, ADHD/ADD, depression, and obesity.

Value-chain role

Drug discovery and clinical-stage development. The company seeks regulatory approvals (NDA), intends to pursue commercialization activities, and plans to collaborate with pharmaceutical companies for discovery, development, and commercialization. No manufacturing or commercial sales operations are disclosed.

Geographic exposure

Incorporated in Delaware. Has a subsidiary, Reviva Pharmaceuticals India Pvt. Ltd. No geographic revenue breakdown is disclosed given pre-revenue status.

Source: SEC 10-K, filed 2026-03-30

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