Revive Therapeutics (TSXV:RVV, OTCQB:RVVTF) updated the status of its clinical study for REV-004 Bucillamine in cystinuria and warrant exercise.
Phase 2 Clinical Study of REV-004 (Bucillamine) in Cystinuria
The Company has engaged with five clinical sites to advance the Phase 2 study of REV-004 (Bucillamine) in cystinuria. The clinical sites participating in the Phase 2 study are: Massachusetts General Hospital, University of Wisconsin, University of Alabama, NYU School of Medicine, and Omega Medical Research. Investigational drug and lab kits have been delivered to clinical sites and the recruitment process of enrolling subjects to the Phase 2 study has begun. The Company will update on the progress of the study, including subject enrollment and clinical results, as they arise. Further information regarding the Phase 2 study can be found on the ClinicalTrials.gov website at the following website address: https://clinicaltrials.gov/ct2/show/NCT02942420.
The Company is pleased to update that a total of 6,215,500 common share purchase warrants have been exercised at a price of $0.18 per common share. Proceeds from the exercise of these warrants totalled $1,118,790 and 6,215,500 common shares were issued from Revive’s Treasury. No commissions or placement fees have been paid related to the funds received from this warrant exercise. Proceeds raised are for general corporate purposes.
“I am pleased with the progress of the Phase 2 clinical study in cystinuria, the efforts in strengthening our strategy in building a novel cannabinoid-based pipeline, and the support we have received from our shareholders,” said Craig Leon, Chief Executive Officer of Revive. “I look forward to updating the medical and investment community on the developments with the Phase 2 study in cystinuria, the cannabinoid-based pipeline activities, and the capital market activities as they arise.”
As of March 28th, 2017 there are a total of 5,655,315 outstanding purchase warrants at $0.18 that expires on June 18, 2018. The Company currently has 53,893,567 common shares outstanding and 61,400,882 fully-diluted.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV)(OTCQB:RVVTF) is focused on the research, development and commercialization of novel treatments for serious and unmet medical needs by identifying and investigating potential drugs and plant-based therapies, such as cannabinoids, that may be repurposed for new indications, be delivered in a different way, combined with existing drugs, or be developed as new chemical entities or prodrugs. Additional information on Revive is available at www.ReviveThera.com.