Specialty life sciences firm Revive Therapeutics Ltd (OTCMKTS:RVVTF) saw its stock suffering from a strong selloff on Thursday and ended the day with a decline of as much as 12% as a consequence. In light of the sharp decline in the stock, it might be a good move to take a look at the developments from yesterday and work out if the stock can stage a quick turnaround or not.
Trading Data
On Thursday, RVVTF stock fell 12.61% to $0.2329 with more than 1.39 million shares traded, compared to its average volume of 732k shares. The stock has moved within a range of $0.2300 – 0.2700 after opening trading at $0.25.
Revive Therapeutics Clarifies Status of Its Phase 3 Clinical Trial for Bucillamine in COVID-19
Back on December 29 last year, the company had issued a press release with the title “Revive Therapeutics Provides Update on Phase 3 Clinical Trial for Bucillamine in COVID-19,” and yesterday, Revive offered some clarifications regarding the same.
Yesterday, Revive clarified that as many as 700 subjects had been participants in the enrolment period for the Phase 3 clinical trial as of December 31, 2021. However, that was not all. Revive also informed that it had also started the process of expanding the population of the study in Turkey through a collaboration with the firm Delta Health. The announcement was an important one and despite the decline in the stock, it may still be a good move to continue to track Revive.
Technical Data
RVVTF stock is trading below the 20-Day and 50-Day Moving averages of $0.31 and $0.37 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.38.
