$RVPH
REVIVA PHARMACEUTICALS HOLDINGS, INC.

2024 Q4 Form 10-Q Financial Statement

#000143774924035375 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.604M
YoY Change -19.46%
% of Gross Profit
Research & Development $6.858M
YoY Change -21.33%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.463M
YoY Change -20.98%
Operating Profit -$8.463M
YoY Change -20.98%
Interest Expense $48.10K
YoY Change 715.12%
% of Operating Profit
Other Income/Expense, Net $96.74K
YoY Change -57.97%
Pretax Income -$8.366M
YoY Change -20.17%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$8.366M
YoY Change -20.33%
Net Earnings / Revenue
Basic Earnings Per Share -$0.25
Diluted Earnings Per Share -$0.25
COMMON SHARES
Basic Shares Outstanding 33.44M 29.82M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.559M
YoY Change 11.8%
Cash & Equivalents $5.559M
Short-Term Investments
Other Short-Term Assets $1.251M
YoY Change 201.71%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $6.810M
YoY Change 26.42%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $819.7K
YoY Change
Total Long-Term Assets $819.7K
YoY Change 81972000.0%
TOTAL ASSETS
Total Short-Term Assets $6.810M
Total Long-Term Assets $819.7K
Total Assets $7.630M
YoY Change 41.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.778M
YoY Change 66.29%
Accrued Expenses $8.673M
YoY Change 15.15%
Deferred Revenue
YoY Change
Short-Term Debt $83.00K
YoY Change -62.7%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.53M
YoY Change 34.53%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $77.88K
YoY Change -91.08%
Total Long-Term Liabilities $77.88K
YoY Change -91.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.53M
Total Long-Term Liabilities $77.88K
Total Liabilities $17.61M
YoY Change 26.64%
SHAREHOLDERS EQUITY
Retained Earnings -$158.0M
YoY Change 30.9%
Common Stock $3.344K
YoY Change 47.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$9.982M
YoY Change
Total Liabilities & Shareholders Equity $7.630M
YoY Change 41.63%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$8.366M
YoY Change -20.33%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$4.241M
YoY Change -31.35%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.622M
YoY Change 1034774.29%
NET CHANGE
Cash From Operating Activities -4.241M
Cash From Investing Activities
Cash From Financing Activities 3.622M
Net Change In Cash -619.4K
YoY Change -89.97%
FREE CASH FLOW
Cash From Operating Activities -$4.241M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><span style="text-decoration: underline; ">Reclassifications</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Certain amounts in the prior year’s consolidated financial statements, as of December 31, 2023 have been reclassified to conform to the current period's presentation. This involved disclosing separately, prepaid clinical trial costs from the prepaid expenses and other current assets balance, which were previously disclosed in the aggregate. This reclassification had no effect on the Company’s loss from operations, net loss, or net loss per share.</p>
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9572180 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
11563954 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11563954 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-11345936 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23312661 usd
us-gaap Operating Expenses
OperatingExpenses
29884290 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-29884290 usd
us-gaap Net Income Loss
NetIncomeLoss
-29905573 usd
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.32
us-gaap Net Income Loss
NetIncomeLoss
-29905573 usd
rvph Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
5381757 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19447908 usd
CY2024Q3 rvph Working Capital
WorkingCapital
10700000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-158000000 usd
CY2024Q3 us-gaap Cash
Cash
5600000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-8400000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-11300000 usd
us-gaap Net Income Loss
NetIncomeLoss
-23700000 usd
us-gaap Net Income Loss
NetIncomeLoss
-29900000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><span style="text-decoration: underline; ">Use of estimates</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting periods covered by the financial statements and accompanying notes. Significant areas requiring the use of management estimates include, but are not limited to, accounting for clinical trial costs, assumptions used to calculate the fair value of stock-based compensation, assumptions used to calculate the fair value of warrants, deferred taxes, and related valuation allowances. Actual results could differ materially from such estimates under different assumptions or circumstances.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration: underline; ">Concentration of credit risk and other risks and uncertainties</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and cash equivalents. Substantially, all the Company’s cash and cash equivalents are held in demand deposit and money market funds at three financial institutions. Deposits in financial institutions may, from time to time, exceed federally insured limits. Amounts held in demand deposit in excess of federally insured limits, totaled $1,027,696 and $786,971 as of September 30, 2024 and December 31, 2023, respectively. The Company has not experienced any losses on its deposits of cash.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company is subject to all of the risks inherent in a clinical-stage company developing new pharmaceutical products. These risks include, but are not limited to, limited management resources, dependence upon medical acceptance of the product in development, regulatory approvals, successful clinical trials, availability and willingness of patients to participate in human trials, and competition in the pharmaceutical industry. The Company’s operating results may be materially affected by the foregoing factors.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2024Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1027696 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
786971 usd
CY2024Q3 us-gaap Cash And Due From Banks
CashAndDueFromBanks
1363860 usd
CY2023Q4 us-gaap Cash And Due From Banks
CashAndDueFromBanks
1155636 usd
CY2024Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
4194957 usd
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
22211820 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5558817 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23367456 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-8365798 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-11345936 usd
us-gaap Net Income Loss
NetIncomeLoss
-23659325 usd
us-gaap Net Income Loss
NetIncomeLoss
-29905573 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33804693
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23637367
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31424395
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22655737
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.75
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.32
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29595990
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17717983
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29595990
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17717983
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
25067643
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
22852634
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6.03
CY2023Q4 rvph Class Of Warrant Or Right Intrinsic Value
ClassOfWarrantOrRightIntrinsicValue
29686123 usd
CY2023 rvph Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerm
P3Y1M6D
rvph Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
8384377
CY2024Q3 rvph Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Issued During Period
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRightsIssuedDuringPeriod
8384377
rvph Class Of Warrant Or Right Issued During Period Exercise Price
ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice
0.82
rvph Class Of Warrant Or Right Issued In Period Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightIssuedInPeriodWeightedAverageRemainingContractualTerm
P4Y9M18D
rvph Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
-347643
CY2024Q3 rvph Class Of Warrant Or Right Number Of Securities Called By Warrant Or Right Exercised In Period
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantOrRightExercisedInPeriod
-347643
rvph Class Of Warrant Or Right Exercised In Period Exercise Price
ClassOfWarrantOrRightExercisedInPeriodExercisePrice
0.0001
rvph Class Of Warrant Or Right Exercised In Period Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightExercisedInPeriodWeightedAverageRemainingContractualTerm
P4Y10M24D
CY2024Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
33104377
CY2024Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
30889368
CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
4.01
CY2024Q3 rvph Class Of Warrant Or Right Intrinsic Value
ClassOfWarrantOrRightIntrinsicValue
7568550 usd
rvph Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerm
P3Y4M24D
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
115000000
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33441199
CY2024Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
30889368
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1813387
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
36266061
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
300000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
400000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1100000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2100000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0337 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.18 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
rvph Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageFairValue
300000 usd
CY2024Q3 rvph Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageFairValue
300000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
348056 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
350410 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1076125 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3022756 usd
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
12896 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
5155 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
37231 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
15355 usd

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