Revive Therapeutics (RVV.V) is a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders. The company offers cannabinoid pharmaceutical portfolio that focuses on rare inflammatory diseases. It is developing Bucillamine, which is in Phase 3 clinical study for the treatment of infectious diseases, including influenza and COVID-19.
Today, Revive Therapeutics announced an update on the Company’s project evaluating Bucillamine as a potential treatment for nerve agent exposure with Defence R&D Canada – Suffield Research Centre (“DRDC”), an agency of the Canadian Department of National Defence. The Company and the DRDC have finalized the research protocol and expect the project to be completed by the end of Q2-2024.
DRDC is investigating pharmacological compounds that can mitigate nerve agent induced brain injury. Recent studies have shown that antioxidant compounds such as n-acetylcysteine (“NAC”) could be beneficial in limiting seizure activity and improving the anticonvulsant efficacy of GABA-mediating drugs such as diazepam. Bucillamine is a significantly more effective antioxidant than NAC and has the potential to provide increased efficacy against seizure activity while limiting the anticoagulant and bleeding event liability observed with NAC.
The overall objective of the research project is to investigate pharmacological means for neuroprotection of GABA(A) receptors, which are required for the effectiveness of currently fielded anticonvulsant therapies. Bucillamine and NAC will be evaluated to determine the effect on GABA(A) receptor endocytosis and the effect on diazepam effectiveness in terminating seizures.
The results from this research, if promising, will determine further studies to facilitate Health Canada approval for the use of Bucillamine in nerve agents or organophosphate pesticide poisoning and potentially begin initial studies for efficacy against mild traumatic brain injury caused by concussive or explosive forces.
In addition, the Company and the DRDC may determine developing novel formulations of Bucillamine and potentially support the development of the Company’s next-generation lyophilized formulation of Bucillamine.
A classic range pattern.
The stock is testing its major support zone around $0.025. The stock should see buyers enter here to hold support. A daily close above $0.04 would be a good start for potential upwards momentum. The major resistance zone comes in at the $0.06 zone.
On November 20th 2023, bulls stepped in and printed a strong full bodied engulfing candle. This is a strong sign that buyers are here. If you look to July and August 2023, you can see that engulfing candles have led to bounces back to the $0.06 resistance zone.
So far a good start holding support and investors and market participants should watch for that break above $0.04.
