Shares of Reviva Pharmaceuticals Holdings Inc. soared 76.6% in trading on Monday after the company said its experimental treatment for schizophrenia met the primary endpoint in a mid-stage clinical trial. Reviva said that the investigational therapy, brilaroxazine, met all safety endpoints and helped with “social functioning and cognition” in the randomized, placebo-controlled, double-blind Phase 2 clinical study. Reviva’s stock is down 14.6% so far this year, while the S&P 500 is up 11.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.