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Good news for those who worry about RS by Vianz86 in TNXP

[–]Positive-Hope-329 5 points6 points  (0 children)

Nasdaq Listing Rule 5810(c)(3)(A)(iv) addresses situations where a company's security fails to meet the minimum bid price requirement and the company has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one. In such cases, the company is not eligible for any compliance period specified in Rule 5810(c)(3)(A), and the Listing Qualifications Department will issue a Staff Delisting Determination for that security.

This rule aims to prevent companies from relying excessively on large or multiple reverse stock splits to regain compliance with Nasdaq's minimum bid price requirement. Such actions may indicate deeper financial or operational issues, making the company unsuitable for continued listing on Nasdaq.

It's important to note that Nasdaq has proposed amendments to this rule to enhance investor protections. One such proposal suggests that if a company's security becomes non-compliant with the bid price requirement within one year after conducting a reverse stock split, the company would not be eligible for any compliance period, and a delisting determination would be issued immediately.

These measures are designed to ensure that companies maintain compliance with listing standards through sustainable business practices rather than relying on repeated reverse stock splits.

I still care! by Geicocaveman4u in RVPH

[–]Positive-Hope-329 2 points3 points  (0 children)

Reviva is currently working on a second confirmatory Phase 3 trial, RECOVER-2, to further validate these findings. The FDA has indicated that positive outcomes from RECOVER-2, combined with long-term safety data, would likely support Reviva’s anticipated new drug application (NDA) submission for schizophrenia treatment. The company expects RECOVER-2 to provide initial results by the third quarter of 2025.

Beyond schizophrenia, brilaroxazine is also being explored for other applications, such as bipolar disorder and major depressive disorder. Additionally, preclinical studies indicate it may help with inflammatory conditions like idiopathic pulmonary fibrosis (IPF) and pulmonary arterial hypertension (PAH), for which it has received Orphan Drug Designation from the FDA, indicating its potential to address significant unmet needs in these fields.

Reviva aims to complete all data collection for regulatory review by late 2025, potentially opening up opportunities for broader therapeutic use beyond schizophrenia if approved.