Revive Therapeutics ( (TSE:RVV) ) just unveiled an update.
Revive Therapeutics has announced a non-binding letter of intent to acquire DiagnaMed’s molecular hydrogen program, which includes intellectual property for potential treatments of neurological and mental health disorders. This acquisition, expected to close by March 31, 2025, aims to advance the clinical development of molecular hydrogen, particularly for ALS, a disease with limited treatment options. The FDA’s orphan drug designation for molecular hydrogen in ALS provides hope for affected patients, and Revive plans to collaborate with researchers and advocacy groups to expedite its development. Additionally, Revive has secured a $65,000 loan to assist with its current working capital needs.
More about Revive Therapeutics
Revive Therapeutics Ltd. is a life sciences company dedicated to the research and development of therapeutics for infectious diseases, rare disorders, and medical countermeasures. The company focuses on leveraging regulatory incentives from the FDA, such as Emergency Use Authorization and Orphan Drug designations, to advance its drug development efforts. Revive is currently exploring treatments for nerve agent exposure, long COVID, and is developing Psilocybin-based therapeutics.
Average Trading Volume: 307,961
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$4.19M
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