Reviva Pharmaceuticals Holdings (NASDAQ:RVPH), a clinical-stage pharmaceutical company developing next-generation therapies for central nervous system (CNS) disorders, today announced its financial results and corporate updates for the full year ended December 31, 2025.
The company’s primary focus remains the clinical and regulatory advancement of brilaroxazine, its lead drug candidate for the treatment of schizophrenia.
For the full year 2025, Reviva reported a net loss of $19.9 million, compared to a net loss of $22.4 million in 2024.
The reduction in loss reflects a transition period as the company completed several major clinical and manufacturing milestones while preparing for its next large-scale pivotal study.
As of December 31, 2025, the company held cash and cash equivalents of $14.4 million, a position subsequently bolstered by gross proceeds from public offerings conducted in late 2025 and early 2026 to fund its upcoming clinical catalysts.
A significant regulatory milestone was achieved following formal written recommendations from the U.S. Food and Drug Administration (FDA).
The agency provided a clear roadmap for the continued development of brilaroxazine, calling for a second pivotal Phase 3 trial to support a future New Drug Application (NDA).
In response, Reviva is on track to initiate the RECOVER-2 Phase 3 study in mid-2026.
This trial is designed to replicate and build upon the positive results seen in the first Phase 3 RECOVER trial, which demonstrated significant improvements in primary and secondary endpoints for schizophrenia patients.
Parallel to its clinical efforts, Reviva has successfully completed several NDA-enabling activities.
These include the completion of long-term toxicology studies and the successful execution of current Good Manufacturing Practice (cGMP) registration batches.