Reviva Pharmaceuticals Plans Public Stock, Warrant Offering
Reviva Pharmaceuticals Plans Public Stock, Warrant Offering

Reviva Pharmaceuticals Plans Public Stock, Warrant Offering

News summary

Reviva Pharmaceuticals Holdings, Inc. (RVPH) announced a public offering of common stock and warrants to raise funds for research and development, working capital, and general corporate purposes. The announcement led to a significant drop in after-hours trading, with shares falling between 15% and 23.4%, reflecting investor concerns about dilution. The offering will be managed exclusively by A.G.P./Alliance Global Partners and is subject to market conditions with no guaranteed completion date or final terms. Despite the stock price decline, analysts remain optimistic, assigning an average price target of $9.43, implying over a 1,100% upside from current levels, and a consensus 'Outperform' rating. Reviva is a late-stage pharmaceutical company developing therapies targeting central nervous system, inflammatory, and cardiometabolic diseases, with two drug candidates in its pipeline. The offering will be executed through an effective shelf registration statement approved by the SEC earlier in 2024.

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