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Revelation Biosciences Inc. (NASDAQ: REVB) reported its Q2 2022 financial results and recent advances on August 15, 2022. The company raised $5 million through a public offering and continues to progress with innovative therapies targeting allergies and chronic diseases.
As of June 30, 2022, cash reserves reached $3.5 million, bolstered by financing activities. Despite a net loss of $1.8 million for Q2 2022, improved from $2.5 million in Q2 2021, clinical studies were key contributors to operational expenses. The company expects sufficient funds to sustain operations through June 2023.
Revelation Biosciences Inc. (NASDAQ: REVB) announced the closure of a public offering on July 28, 2022, involving 8,333,334 shares at $0.60 each, raising approximately $5 million. The offering included warrants for an equal number of shares, exercisable at the same price for five years. The funds will support the development of their key therapeutic candidates, including REVTx-99b, REVTx-200, and REVTx-300, alongside general corporate purposes.
Revelation Biosciences Inc. (NASDAQ: REVB) has announced a public offering of 8,333,334 shares of common stock, priced at $0.60 per share, along with warrants to purchase an equal number of shares. The offering aims to raise approximately $5 million before fees, and proceeds will be used for the development of product candidates REVTx-99b, REVTx-200, and REVTx-300, among other corporate purposes. The offering is expected to close on or about July 28, 2022.
Revelation Biosciences Inc. (NASDAQ: REVB) announced topline data from its Phase 1b CLEAR study assessing intranasal REVTx-99b for allergic rhinitis. The primary endpoint regarding safety and tolerability was met; however, exploratory efficacy endpoints were not satisfied, showing no significant improvement in allergy symptoms or nasal airflow. The study involved two cohorts and took place in Australia. Management is considering future development for REVTx-99b along with other ongoing programs.
Revelation Biosciences Inc. (NASDAQ: REVB) has announced the completion of database lock for its Phase 1b CLEAR clinical study evaluating REVTx-99b for treating allergic rhinitis caused by rye grass pollen. The study, conducted in Australia, aims to assess safety and tolerability against a placebo.
Topline data is expected to be released in the last week of July 2022. This milestone is crucial for developing effective treatments for allergic rhinitis, a condition affecting millions, and could lead to significant advancements in patient care.
Revelation Biosciences (NASDAQ: REVB) has completed the enrollment and dosing of its Phase 1b CLEAR clinical study for REVTx-99b, aimed at treating allergic rhinitis. The study, conducted in Australia, evaluates the safety and efficacy of this intranasal formulation against a placebo. Participants were divided into two cohorts to assess the drug's effects before and after nasal allergen challenges. Topline results are anticipated in Q3 2022, marking a significant step in developing therapies for this prevalent condition.
Revelation Biosciences Inc. (NASDAQ: REVB) announced on May 23, 2022, that the independent Safety Monitoring Committee (SMC) recommended continuing its Phase 1b clinical study of REVTx-99b for treating allergic rhinitis and chronic nasal congestion. The study is being conducted in Australia and expects to complete enrollment by Q3 2022, with topline data anticipated in the same quarter. This study is crucial for assessing the safety and tolerability of REVTx-99b, which targets a significant market of allergy sufferers.
Revelation Biosciences Inc. (NASDAQ: REVB) reported its first quarter 2022 financial results, noting significant progress in corporate initiatives. The company completed a merger with Petra Acquisition, Inc. and raised $7.7 million through PIPE financing. Cash reserves increased to $7.2 million from $1.3 million in Q4 2021, enabling operations funding through 2022. However, the net loss rose to $6.6 million ($0.47 per share), up from $2.6 million ($0.42 per share) in Q1 2021, primarily due to clinical study expenses.
Revelation Biosciences Inc. (NASDAQ: REVB) announced ongoing enrollment in the phase 1b CLEAR study for its lead therapeutic candidate, REVTx-99b, targeting allergic rhinitis, with top-line data expected in the second half of 2022. The company is also in discussions for diagnostic partnerships related to its REVDx-501 rapid home-use diagnostic tool for respiratory viral infections. An investor conference call is scheduled for April 7, 2022, to discuss these developments further.
Revelation Biosciences Inc. (NASDAQ: REVB) announced interim results from its Phase 2b viral challenge study evaluating intranasal REVTx-99a for H3N2 influenza prevention. The study, conducted in Belgium with 30 healthy participants, reported no serious adverse events. However, REVTx-99a failed to meet its primary endpoint, showing no statistically significant difference from the placebo. CEO James Rolke expressed disappointment but emphasized ongoing commitment to other candidates like REVTx-99b for allergic rhinitis management and REVDx-501, a home diagnostic test for respiratory viruses.
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