The stock of Revelation Biosciences Inc (REVB) closed the recent trading session at $1.54, gaining 4.76% from the previous trading session. The stock remained bullish in the pre-market and gained 64.29% to $2.53. The company filed for the form SC 13D with the SEC on 15 February 2022. The form refers to the acquisition of the beneficial owner of more than 5% securities.
REVB News:
On 24 January 2022, REVB declared the selling of 1.29 million stocks at a cost of $3 for each stock. Moreover, the company also proceeded with 1.29 million warrants. The price of warrants is $3.29 each, which will be exercisable within the 6 months of issuance. The expiry date will be after five and a half years from the date of issue. The aggregate amount will be almost $7.7 million. REVB will use the amount from the offering in clinical and pre-clinical trials.
Also, on 20 January 2022, the company reported that a class of at least 15 patients have been selected and dosed in a Phase 2b viral test review. The trials were conducted to assess the viability of intranasal REVTx-99 for the therapy of H3N2 flu. The test review is an important stage in the clinical advancement of REVTx-99 for the treatment of respiratory diseases.
The CEO of REVB, James Rolke, stated that with the rise in diseases like flu, and COVID-19, there is a colossal requirement for new treatments. He further stated that the consequences of this study will be a sign of the improvement of REVTx-99. Mr. Rolke concluded that despite having antibodies, there stays an earnest requirement for the treatment of respiratory viral contaminations.
What’s next
REVB further focuses on the evolution of clinical investigation related to COVID-19 and its different adaptions. The company also plans to continue investigation related to other respiratory diseases.
About REVB
Revelation Biosciences Inc is a clinical-stage pharmaceutical organization that concentrates on the production of immune system therapies. The company has its headquarter in California, the United States of America (USA).
