aibioReviva Pharmaceuticals delays 2024 annual report and expects to report material weaknesses
Tickers RVPH
The company said it needs more time to finalize its financial statements and audit. It plans to file within the fifteen-day extension.
Key facts
- Company
- Reviva Pharmaceuticals Holdings, Inc. (OTC: RVPH)
- News type
- Distress
- Primary source
- Reviva Pharmaceuticals Holdings, Inc. NT 10-K (2025-03-31)
Reviva Pharmaceuticals Holdings, Inc. has told the Securities and Exchange Commission that its annual report for the fiscal year ended December 31, 2024 will be late, and that it expects to disclose weaknesses in its financial controls.
The Cupertino, California company filed a Form 12b-25 notice of late filing on March 31, 2025, according to the notice. The form gives a company a short extension when it cannot file a periodic report on time. For an annual report on Form 10-K, the extension is fifteen calendar days.
Reviva said it is working to complete the 2024 Form 10-K, including its financial statements and the related audit procedures needed to issue them. It said additional time is required to finish that work.
The company also said that, although the assessment is not yet complete, it "expects to report material weaknesses in its internal control over financial reporting and its disclosure controls and procedures." A material weakness is a gap in a company's controls that creates a reasonable possibility that a material error in its financial statements would not be caught in time.
Reviva said the annual report will be filed on or before the fifteenth calendar day after the prescribed due date. It said all other periodic reports due in the preceding 12 months have been filed, and it does not expect a significant change in results of operations from the prior year.