Revive Therapeutics Ltd. Announces Results for the Three and Nine Months Ended March 31, 2014
May 27 2014 - 6:00PM
Marketwired
Revive Therapeutics Ltd. Announces Results for the Three and Nine
Months Ended March 31, 2014
TORONTO, ONTARIO--(Marketwired - May 27, 2014) - Revive
Therapeutics Ltd. (TSX-VENTURE:RVV) ("Revive") announced today its
results for the three and nine months ended March 31, 2014. The
unaudited condensed interim consolidated financial statements and
Management's Discussion and Analysis for the period may be viewed
on SEDAR at www.sedar.com.
Operational Highlights
- On April 30, 2014, Revive announced that it has submitted a
pre-IND meeting request to the US FDA for its Gout drug candidate,
REV-002.
- On May 14, 2012, Revive announced positive pre-clinical results
for Rett Syndrome, a rare disease.
Financial Highlights
- Cash and cash equivalents at March 31, 2014 totaled $1,488,307
(June 30, 2013 - $705,865).
- The net loss for the three and nine months ended March 31, 2014
was $278,876 and $876,932, respectively (three months ended March
31, 2013 - loss of $29,164; period from August 7, 2012 to March 31,
2013 - loss of $98,665).
- The Company's Research costs for the three and nine months
ended March 31, 2014 were $14,543 and $37,942, respectively (three
months ended March 31, 2013 - $10,872; period from August 7, 2012
to March 31, 2013 - $55,200).
Fabio Chianelli, Chief Executive Officer of Revive Therapeutics
Ltd., commented, "I am very pleased with our clinical and
regulatory progress that we have achieved to date and our
commitment to bring novel solutions for unmet medical needs."
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. is a Canadian public company
(TSX-VENTURE:RVV) focused on acquiring, developing and
commercializing treatments for major market opportunities such as
gout, postoperative pain, and rare diseases. Revive aims to bring
drugs to market by finding new uses for old drugs, also known as
drug repurposing or drug repositioning, and improving the
therapeutic performance of existing drugs for underserved medical
needs. Additional information on Revive is available at
www.revivethera.com.
The information in this news release includes certain
information and statements about management's view of future
events, expectations, plans and prospects that constitute forward
looking statements that may not be based on historical fact,
including without limitation statements containing the words
"believe", "may", "plan", "will", "estimate", "continue",
"anticipate", "intend", "expect" and similar expressions. These
statements are based upon assumptions that are subject to
significant risks and uncertainties. Because of these risks and
uncertainties and as a result of a variety of factors, the actual
results, expectations, achievements or performance may differ
materially from those anticipated and indicated by these forward
looking statements. Such factors include, among others, Revive's
stage of development, lack of any product revenues, additional
capital requirements, risk associated with the completion of
clinical trials and obtaining regulatory approval to market
products, the ability to protect intellectual property, dependence
on business partners and the prospects for negotiating joint
ventures, distribution and licensing arrangements and their timing.
Specifically, certain risks and uncertainties that could cause such
actual events or results expressed or implied by such
forward-looking statements and information to differ materially
from any future events or results expressed or implied by such
statements and information include, but are not limited to; the
risks and uncertainties that Revive may not be able to successfully
develop and obtain regulatory approval for its products;
intellectual property disputes; future operating results are
uncertain and likely to fluctuate; ability to raise additional
capital; successfully establishing additional corporate
collaborations, distribution or licensing arrangements;
establishing marketing and the costs of launching products may be
restricting; Revive's lack of experience in commercial
manufacturing; increased competition from pharmaceutical and
biotechnology companies; and other factors as described in detail
in Revive's filings on SEDAR (www.sedar.com), including, without
limitation, Revive's Filing Statement dated November 26, 2013 filed
on SEDAR on November 27, 2013. Given these risks and uncertainties,
readers are cautioned not to place undue reliance on such
forward-looking statements and information, which are qualified in
their entirety by this cautionary statement. Although Revive
believes that the expectations reflected in forward looking
statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be
correct. Except as required by law, Revive disclaims any intention
and assumes no obligation to update or revise any forward looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in
factors affecting such forward looking statements or
otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Revive Therapeutics Ltd.Fabio ChianelliChief Executive
Officer905-605-5535 (ext.
10)fabio@revivethera.comwww.revivethera.com
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