Reviva Pharmaceuticals Holdings (RVPH) Starts 1-for-20 Reverse Split as Nasdaq Deadline Nears
Reviva Pharmaceuticals enacted a 1-for-20 reverse stock split early Monday to boost its share price and avoid a Nasdaq delisting. The company faces a March 27 deadline to meet the $1 minimum bid rule. Reviva is also seeking funding for a new Phase 3 trial of its schizophrenia drug after the FDA requested more data. Analyst Jason Kolbert downgraded the stock, citing unchanged fundamentals.