Reviva Pharmaceuticals Announces $10 Million Public Offering to Advance Neuropsychiatric Drug Development

CUPERTINO, Calif. – March 19, 2026 – Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) today announced the pricing of a $10 million public offering of its common stock. The company intends to employ the net proceeds to fund research and development, including a planned Phase 3 trial for its lead drug candidate, brilaroxazine (RP5063), for schizophrenia, as well as for working capital and other general corporate purposes. RVPH was trading at $1.87 in pre-market trading as of 4:37 AM GMT-4 on March 19, 2026.

Details of the Public Offering

The offering consists of shares of common stock and warrants to purchase additional shares. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering. The offering is subject to market conditions and may not be completed. A preliminary prospectus supplement related to the offering has been filed with the U.S. Securities and Exchange Commission (SEC) and is available on the SEC’s website.

About Reviva Pharmaceuticals

Reviva Pharmaceuticals is a late-stage biopharmaceutical company focused on developing therapies for diseases with significant unmet medical needs, particularly in the central nervous system (CNS), inflammatory, and cardiometabolic areas. The company’s lead drug candidate, brilaroxazine (RP5063), is in clinical development for multiple neuropsychiatric indications, including schizophrenia, bipolar disorder, major depressive disorder, behavioral and psychotic symptoms in Alzheimer’s disease, Parkinson’s disease psychosis, and attention deficit hyperactivity disorder (ADHD). Reviva has been granted composition of matter patents for both brilaroxazine and RP1208 in the United States, Europe, and several other countries.

Brilaroxazine (RP5063) Development

Brilaroxazine is being investigated for its potential to address negative symptoms of schizophrenia, as demonstrated in the Phase 3 RECOVER trials. Reviva is planning a RECOVER-2 Phase 3 trial to further evaluate brilaroxazine’s efficacy in this indication.

Financial Performance and Analyst Ratings

As of March 18, 2026, Reviva Pharmaceuticals had a market capitalization of $218.51 million. According to analyst ratings, the average rating for RVPH stock is “Strong Buy,” with a 12-month stock price target of $66.67, representing a potential increase of 3,465.24% from the current price.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and are subject to risks and uncertainties, including market conditions and the completion of the public offering. Actual results could differ materially from those expressed in these forward-looking statements. Further details regarding these risks can be found in the company’s filings with the SEC, including its Form 10-K for the year ended December 31, 2024, and Forms 10-Q for the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025.

Contact Information

Corporate Contact: Laxminarayan Bhat, PhD, www.revivapharma.com

Investor Relations Contact: PJ Kelleher, LifeSci Advisors, LLC, pkelleher@lifesciadvisors.com