Why Revive Therapeutics Ltd (RVVTF) Jumped 250% in One Month?
Many companies have come into focus due to their work on formulating medicines meant for treating patients suffering from COVID-19 infection. One such company is Revive Therapeutics Ltd (OTCMKTS: RVVTF), which is best known for its work with psychedelics based medicines.
The stock is now in focus after it emerged that the company has started its Phase 3 trial for a COVID 19 medicine.
The stock has moved up as well and over the course of the past month, it has rallied by as much as 250%. The product in question is known as Bucillamine, which is better known for treating arthritis in South Korea and Japan.
At this point, Revive is the only company that is researching Bucillamine as a potential treatment for COVID 19 infection and that has placed the company in a possibly advantageous position. Revive got permission to conduct a trial from the United States Food and Drug Administration for the product earlier this year in July.