The coronavirus pandemic has shown no signs of abating and in this sort of situation, many companies that are working on vaccines for the novel COVID 19 have come into sharp focus among investors. The optimism among such stocks is understandable considering the fact that the market opportunity is quite immense.
One such stock that has gathered significant momentum in recent weeks is that of Revive Therapeutics Ltd (OTCMKTS:RVVTF). Revive is a specialty life sciences company and last week, the company announced that it has been granted the go-ahead by the United States Food and Drug Administration for evaluating the safety of its product Bucillamine in Phase 3 clinical trial.
The product in question is meant as a vaccine for patients who are suffering from mild to moderate symptoms of COVID 19. At this point in time, Revive is gathering resources and making final touches to various agreements before commencing the Phase 3 clinical trial. The company aims to start the trial in September. Michael Frank, who is the Chief Executive Officer of Revive Therapeutics, stated the resources are being aligned to start the Phase 3 clinical trial. It goes without saying that it is a major milestone for the company and after the announcement was made, there was a lot of optimism around the stock. It gathered significant momentum and it remains to be seen if the Revive stock can continue in the same vein this week. It could be worthwhile for investors to keep a close eye on the stock today and watch the price action diligently.
The company has major plans with regard to its Phase 3 clinical trial. It aims to set up as many as 10 trial sites in the United States alone. In addition to that, Revive is also looking to set up the clinical trial for the purpose of screening patients at some point in the third fiscal quarter of 2020. Last but not the least, it is also important to point out that the company is also aiming to evaluate clinical sites in the United States and it is believed that it is going to go for major coronavirus affected states in the United States like Texas, Florida, Arizona, and California.
This is a major development for the company in a number of ways since it brings its quest to produce a coronavirus vaccine to its final stages. Considering the fact that the coronavirus pandemic is still raging, it is quite clear to see why there is such excitement about the potential of this product. Investors could do well to keep an eye on the developments going forward and the update provided by the company.
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