Why Revelation Biosciences' Shares Are Plunging Today

Revelation Biosciences Inc REVB announces results from interim statistical analysis for Phase 2b viral challenge study (RVL-VRL01) of intranasal REVTx-99a for the preventive treatment of H3N2 influenza (influenza A) in healthy humans.
Efficacy data demonstrated that REVTx-99a did not meet its primary endpoint, the area under the curve (AUC) of viral load by quantitative RT-PCR from nasopharyngeal swabs.
The preliminary results suggest that the difference between REVTx-99a and placebo was not statistically significant.
The study was conducted in Belgium and enrolled 30 healthy individuals 18 to 55 years.
Related: EXCLUSIVE: New On NASDAQ Deck, Revelation Bio's COVID-19 Antiviral Shows Encouraging Preclinical Action.
No serious adverse events were reported or discontinuations due to the study drug, and all subjects completed the treatment period per protocol.
REVTx-99b is a proprietary intranasal formulation in development to manage allergic rhinitis symptoms, including chronic nasal congestion.
Revelation is currently in Phase 1b study to evaluate the effects of REVTx-99b versus placebo on safety and tolerability. Key secondary endpoints include allergy symptoms and peak nasal inspiratory flow elicited by nasal allergen challenge.
Topline data is expected in 2H of 2022.
Price Action: REVB shares are down 39.7% at $1.29 during the market session on the last check Wednesday.