Reviva Pharmaceuticals (RVPH) PT Lowered to $3 at D. Boral Capital

D. Boral Capital analyst Jason Kolbert lowered the price target on Reviva Pharmaceuticals (NASDAQ: RVPH) to $3.00 (from $8.00) while maintaining a Buy rating.

The analyst comments "Brilaroxazine Advances, But Cash Concerns Mount: PT Lowered to $3.00 from $8.00, Risk Raised from 30% to 50%. We are lowering our price target from $8 to $3 and increasing our risk rate (r) to 50% (from 30%) due to near-term financing uncertainty. While brilaroxazine continues to advance toward a potential NDA filing with key data expected in Q2 and the RECOVER-2 trial slated to launch mid-year, the company’s cash position is insufficient to support these milestones. Until financing is secured, we view dilution risk as high and model multiple equity raises."

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