Reviva Pharmaceuticals Holdings, Inc. (RVPH)

Reviva Pharmaceuticals Holdings, Inc. is a clinical-stage biopharmaceutical company headquartered in Cupertino, California. Its operating business was founded in 2006 as Reviva Pharmaceuticals, Inc. The company focused on therapies for central nervous system disorders and also described interests in respiratory, cardiovascular, metabolic and inflammatory diseases.

The company's lead candidate was brilaroxazine, also known by the development code RP5063. It is an investigational small molecule that acts on dopamine and serotonin receptors, and Reviva developed it primarily for schizophrenia. The company also studied it in earlier-stage work for other neuropsychiatric conditions and for pulmonary arterial hypertension and idiopathic pulmonary fibrosis. A second compound, RP1208, remained in preclinical development.

Reviva became publicly traded in December 2020 through a business combination with Tenzing Acquisition Corp., a special purpose acquisition company. The combined company, Reviva Pharmaceuticals Holdings, Inc., began trading on Nasdaq under the symbol RVPH. As a pre-revenue developer, it relied on equity financings to fund its clinical programs.

The listing problems arose from the share price. On November 11, 2025, Nasdaq staff notified the company that it no longer qualified for listing under Listing Rule 5550(a)(2), the minimum bid price requirement for the Nasdaq Capital Market. Reviva appealed on November 18, 2025 to the Nasdaq Listing Qualifications Hearings Panel, and a hearing was held on January 8, 2026.

The panel issued a decision on January 20, 2026. After the company requested an extension on March 25, 2026, the panel issued a modification and extension letter on April 27, 2026 that set a new compliance deadline. The company did not meet that deadline, and on May 12, 2026 the panel decided to suspend it.

Trading in Reviva's common stock was suspended on May 14, 2026. The staff delisting determination became final on June 26, 2026, and Nasdaq issued its delisting determination on July 10, 2026. A Form 25-NSE was filed with the SEC, and removal from listing took effect at the opening of trading on July 20, 2026.

The delisting was unrelated to an acquisition or bankruptcy filing. It resulted from the company's failure to regain compliance with Nasdaq's continued listing standard within the time the panel allowed.