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 that the U.S. Food & Drug Administration (“FDA”) has accepted the Company’s meeting request for the Revive LC POC Lateral Flow Test Kit for feedback on the classification, development and regulatory submission strategy for a point-of-care in vitro diagnostic device that aids in the detection of post COVID-19 conditions. The meeting date assigned by the FDA is June 7, 2024.
Currently, there is no FDA-approved clinical diagnosis of long COVID and it is estimated to occur in at least 10% of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infections. More than 200 symptoms have been identified with impacts on multiple organ systems — including fatigue, brain fog, difficulty breathing, and cardiovascular symptoms ranging from chest pain and arrhythmias to sudden cardiac death — but it remains a diagnosis of exclusion with an unknown biological basis.
The Company entered into a license agreement with Lawson Health Research Institute for the worldwide exclusive rights to the intellectual property of novel blood biomarkers that characterize long COVID.
The stock remains in its consolidation phase. 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.
