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, the Company announced its initiative in Bucillamine, an oral thiol-based drug with anti-inflammatory and antiviral properties, as a potential treatment for long COVID. The Company aims to advance the clinical development of Bucillamine by leveraging the published research and existing data from its previous Phase 3 clinical trial and is preparing a clinical package that includes a proposed Phase 2/3 clinical protocol for long COVID to present to the FDA and international health regulatory bodies.
David Cutler, PhD, a professor of economics at Harvard University, estimates in a recent research disclosure that the total economic cost of long COVID could be as much as $3.7 trillion.
On July 6, 2023, the Company announced the results of its Study evaluating the safety and efficacy of oral Bucillamine in patients with mild to moderate COVID-19. Under the Study’s primary endpoint, the proportion of patients meeting a composite endpoint of hospitalization or death from time of first dose through Day 28 following randomization, there were no deaths and four hospitalizations, of which three were from the placebo arm and one from the Bucillamine low dose group (300mg/day). No hospitalizations occurred in the Bucillamine large dose group (600mg/day).
A study titled “Thiol-based drugs decrease binding of SARS-CoV-2 spike protein to its receptor and inhibit SARS-CoV-2 cell entry” showed that thiol-based drugs, like Bucillamine, decrease the binding of SARS-CoV-2 spike protein to its receptor, decrease the entry efficiency of SARS-CoV-2 spike pseudotyped virus, and inhibit SARS-CoV-2 live virus infection.
Revive Therapeutics also announced the closing of the First Tranche of its Private Placement for the gross proceeds of $913,500 by issuing 26,100,000 units at a price of $0.035 per Unit.
The company intends to use the net proceeds of the Offering for clinical work on long COVID and other possible indications, advancement of government studies, possible repayment of certain arm’s length payables, and general working capital purposes.
The stock is up 20% on this news, but perhaps it is because price is at major support. 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.
