Revive Therapeutics Ltd (OTCMKTS:RVVTF) Stock Falls Following Phase 3 Clinical Study
Specialty life sciences company Revive Therapeutics Ltd (OTCMKTS:RVVTF) is focussed on the research and development of therapies for rare disorders and conditions. This past Friday the company was in the news after it provided an update with regards to its United States Food and Drug Administration approved Phase 3 clinical trial for evaluation of the safety and efficacy of the product Bucillamine.
Trading Data
On Friday, RVVTF stock slid 22.86% to $0.0405 with more than 2.56 million shares, compared to its average volume of 583.65K shares. The stock moved within a range of $0.0330 – 0.0451 after opening trade at $0.0350.
Revive Therapeutics Provides Update of Phase 3 Clinical Study for Bucillamine in the Treatment of COVID-19
The product in question is an oral medicine with anti-viral and anti-inflammatory properties, meant for patients suffering from COVID-19 infection. On May there was meeting of the independent Data Safety Monitoring Board for studying the Post-Dose selection data related to the protocol primary endpoint of the study.
The endpoint of the study is “ proportion of patients meeting a composite endpoint of hospitalization or death from time of first dose through Day 28 following randomization”.
The board recommended at the time that the study ought to be halted owing to the statistical significance of the primary endpoint not being met if the study was allowed to continue. The company announced that due to the recommendation from the independent board, it had come to the decision to halt the study.
