H.C. Wainwright analyst Raghuram Selvaraju reiterates a Buy rating on Reviva Pharmaceuticals (RVPH) with a $4 price target after the FDA recommended a second Phase 3 clinical trial for brilaroxazine in patients with schizophrenia. The stock in midday trading is down 47% to 32c. The news is not surprising based on established precedent for drug development in schizophrenia, the analyst tells investors in a research note. H.C. Wainwright continues to expect brilaroxazine regulatory submission in late 2027, with potential approval and launch in late 2028.
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Read More on RVPH:
- Reviva Pharmaceuticals: Buy Rating Reaffirmed as Additional Phase 3 Trial Leaves Schizophrenia Launch and DCF‑Backed Upside Intact
- Roth says Reviva may need additional $60M-$75M for schizophrenia study
- Reviva plans second Phase 3 trial after FDA feedback
- Reviva Pharmaceuticals announces regulatory update regarding brilaroxazine
- Reviva Pharmaceuticals discloses feedback from FDA on brilaroxazine