Revive Therapeutics Ltd (OTCMKTS: RVVTF) has increased by 10% in the last day. The company’s stock previously closed at $0.32 and is now at $0.35. Revive Therapeutics has been going up the previous month, making it an ideal stock for investors.
Trading Data
On Friday, RVVTF stock surged 10.10% to $0.3490 with more than 499K shares, compared to its average volume of 615K shares. The stock moved within a range of $0.2950 – 0.3500 after opening trade at $0.3170.
About Revive Therapeutics
Revive Therapeutics is a life sciences company researching and developing treatments for infectious diseases and rare disorders. The company mainly uses cannabinoid-based therapies to treat rare inflammatory conditions.
Among the drugs that Revive is developing is Bucillamine. The company is currently conducting Phase III studies to test the efficacy of the therapy in the treatment of infectious diseases like COVID-19 and influenza. Revive is also testing Psilocybin for its effectiveness in treating methamphetamine use disorder. The company is evaluating treatments, including psilocin for mental illnesses such as depression, anxiety, bulimia, and cannabidiols for organ transplants and autoimmune hepatitis.
Revive Therapeutics Provides Update on Phase 3 Clinical Trial for Bucillamine in COVID-19
Revive Therapeutics recently updated investors on its Phase III clinical study of Bucillamineto to treat COVID-19. Bucillamine, an oral drug, can treat both inflammatory and viral infections.
The company has stated that the Food and Drug Administration (FDA) has accepted its submission of a Data Access Plan (DAP). This DAP will allow the company to blind the pre-dose selection data and adjust its study protocol with the new primary efficacy endpoints.
The company’s new endpoints could include a sustained resolution of symptoms. This inclusion is important as there has been a change in how people respond to COVID-19 infection, with more people having re-infections after successful treatment. This approach would make the company more eligible for Emergency Use Authorization than other drugs as it deals with more critical endpoints.
Revive Therapeutics notes that the Omicron variant of the disease is a more significant issue than the delta variant. For this reason, it is crucial to treat symptom resolution. The drug could also be vital in protecting people from hospitalizations.
While the company hopes to achieve these goals in the future, it points out that Bucillamine is still not in a position to treat or cure COVID-19. It will need to undergo rigorous testing before getting approval.
Technical Data
RVVTF stock is trading above the 20-Day and 50-Day Moving averages of $0.31 and $0.28 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.29.
