Reviva Pharmaceuticals Holdings, Inc. Files 2023 10-K

Ticker: RVPH · Form: 10-K · Filed: Apr 15, 2024

Sentiment: neutral

Topics: 10-K, Annual Report, Reviva Pharmaceuticals, Financials, SEC Filing

AI Summary

REVIVA PHARMACEUTICALS HOLDINGS, INC. (RVPH) filed a Annual Report (10-K) with the SEC on April 15, 2024. Reviva Pharmaceuticals Holdings, Inc. filed its 2023 10-K on April 15, 2024. The company was formerly known as Tenzing Acquisition Corp. and changed its name on June 6, 2018. The filing covers the fiscal year ending December 31, 2023. Key subsequent events include a financing agreement to fund an insurance policy on January 2, 2024. The company is incorporated in Delaware and its principal business address is in Cupertino, California.

Why It Matters

For investors and stakeholders tracking REVIVA PHARMACEUTICALS HOLDINGS, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Reviva Pharmaceuticals' financial health, operational activities, and strategic direction for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The inclusion of subsequent events, such as the financing agreement to fund an insurance policy, offers insights into recent developments that could impact the company's financial stability and operational continuity.

Risk Assessment

Risk Level: medium — REVIVA PHARMACEUTICALS HOLDINGS, INC. shows moderate risk based on this filing. The company's financial performance and operational status are not detailed with specific figures in the provided header information, making a precise risk assessment difficult without the full report.

Analyst Insight

Review the full 10-K filing to understand Reviva Pharmaceuticals' financial statements, risk factors, and management's discussion and analysis for a comprehensive assessment.

Key Numbers

Key Players & Entities

FAQ

When did REVIVA PHARMACEUTICALS HOLDINGS, INC. file this 10-K?

REVIVA PHARMACEUTICALS HOLDINGS, INC. filed this Annual Report (10-K) with the SEC on April 15, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by REVIVA PHARMACEUTICALS HOLDINGS, INC. (RVPH).

Where can I read the original 10-K filing from REVIVA PHARMACEUTICALS HOLDINGS, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by REVIVA PHARMACEUTICALS HOLDINGS, INC..

What are the key takeaways from REVIVA PHARMACEUTICALS HOLDINGS, INC.'s 10-K?

REVIVA PHARMACEUTICALS HOLDINGS, INC. filed this 10-K on April 15, 2024. Key takeaways: Reviva Pharmaceuticals Holdings, Inc. filed its 2023 10-K on April 15, 2024.. The company was formerly known as Tenzing Acquisition Corp. and changed its name on June 6, 2018.. The filing covers the fiscal year ending December 31, 2023..

Is REVIVA PHARMACEUTICALS HOLDINGS, INC. a risky investment based on this filing?

Based on this 10-K, REVIVA PHARMACEUTICALS HOLDINGS, INC. presents a moderate-risk profile. The company's financial performance and operational status are not detailed with specific figures in the provided header information, making a precise risk assessment difficult without the full report.

What should investors do after reading REVIVA PHARMACEUTICALS HOLDINGS, INC.'s 10-K?

Review the full 10-K filing to understand Reviva Pharmaceuticals' financial statements, risk factors, and management's discussion and analysis for a comprehensive assessment. The overall sentiment from this filing is neutral.

How does REVIVA PHARMACEUTICALS HOLDINGS, INC. compare to its industry peers?

The filing is for a pharmaceutical preparations company, operating within the healthcare sector.

Are there regulatory concerns for REVIVA PHARMACEUTICALS HOLDINGS, INC.?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose financial and operational information.

Industry Context

The filing is for a pharmaceutical preparations company, operating within the healthcare sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose financial and operational information.

What Investors Should Do

  1. Analyze the detailed financial statements within the 10-K to understand revenue, expenses, and profitability.
  2. Review the 'Risk Factors' section to identify potential challenges and uncertainties facing the company.
  3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business performance and outlook.

Key Dates

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023. Comparative data from the previous year's 10-K would be needed for a direct comparison.

Filing Stats: 4,374 words · 17 min read · ~15 pages · Grade level 14.9 · Accepted 2024-04-15 08:22:16

Key Financial Figures

Filing Documents

BUSINESS

BUSINESS 3 Item 1A.

RISK FACTORS

RISK FACTORS 35 Item 1B. UNRESOLVED STAFF COMMENTS 72 Item 1C. CYBERSECURITY 72 Item 2.

PROPERTIES

PROPERTIES 72 Item 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 72 Item 4. MINE SAFETY DISCLOSURES 72 PART II 73 Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 73 Item 6. [RESERVED] 73 Item 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 73 Item 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 82 Item 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 82 Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 82 Item 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 82 Item 9B. OTHER INFORMATION 83 Item 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 83 PART III 84 Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 84 Item 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 88 Item 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 93 Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 97 Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 99 PART IV 99 Item 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES 99 Item 16. FORM 10-K SUMMARY 104 Table of Contents EXPLANATORY NOTE Reviva Pharmaceuticals Holdings, Inc. (the "Company", "we" or "us") is filing this comprehensive annual report on Form 10-K for the fiscal years ended December 31, 2023 and 2022 (the "Comprehensive Form 10-K"). This Comprehensive Form 10-K contains our audited financial statements for the fiscal year ended December 31, 2023, as well as restatement of the following previously filed periods: (i) our audited consolidated financial statements for the fiscal year ended December 31, 2022, (ii) our unaudited consolidated financial statements covering the quarterly reporting period of September 30, 2022 during fiscal year 2022; and (iii) our unaudited consolidated financial statements covering the quarterly reporting periods during fiscal year 2023, consisting of September 30, 2023, June 30, 2023, and March 31, 2023. Restatement Background On April 12, 2024, the audit committee (the "audit committee") of the board of directors of the Company, after meeting with management, concluded that the Company's previously issued financial statements for the fiscal year ended December 31, 2022 included in its Annual Report on Form 10-K, the interim financial statements for the quarterly period ended September 30, 2022 included in its Quarterly Report on Form 10-Q, and each of the interim financial statements for the quarterly periods in fiscal 2023 included in its Quarterly Reports on Form 10-Q (cumulatively, the "Restatement Periods") should be restated to correct historical errors related principally to the timing of recognition of the Company's estimated accrual of certain research and de

BUSINESS

BUSINESS All references in this report to "Reviva," the "Company," "we," "us," or "our" mean Reviva Pharmaceuticals Holdings, Inc. and its subsidiaries unless we state otherwise, or the context otherwise indicates. Company Overview We are a late-stage pharmaceutical company that discovers, develops, and seeks to commercialize next-generation therapeutics for diseases representing significant unmet medical needs and burdens to society, patients, and their families. Our current pipeline focuses on the central nervous system, inflammatory, and cardiometabolic diseases. We use a chemical genomics driven technology platform and proprietary chemistry to develop new medicines. Our pipeline currently has two drug candidates, brilaroxazine (RP5063) and RP1208. Both are new chemical entities discovered in-house. We have been granted composition of matter patents for both brilaroxazine and RP1208 in the United States (U.S.), Europe, and several other countries. Our lead drug candidate, brilaroxazine, is in clinical development and is intended to treat multiple neuropsychiatric indications. These include schizophrenia, bipolar disorder ("BD"), major depressive disorder ("MDD"), attention–deficit/hyperactivity disorder ("ADHD"), behavioral and psychotic symptoms of dementia and Alzheimer's disease ("BPSD"), and Parkinson's disease psychosis ("PDP"). Furthermore, brilaroxazine is also ready for clinical development for two respiratory indications— pulmonary arterial hypertension ("PAH") and idiopathic pulmonary fibrosis ("IPF"). The U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation to brilaroxazine for the treatment of PAH in November 2016 and IPF in April 2018. Brilaroxazine also is in preclinical development for the treatment of psoriasis. Our primary focus is to complete the clinical development of brilaroxazine for the treatment of acute and maintenance schizophrenia. On October 30, 2023, we announced positive topline results from our Phase 3 REC

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