Mr. Fabio Chianelli reports

REVIVE THERAPEUTICS LTD. ANNOUNCES RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2014

Revive Therapeutics Ltd. has released its results for the three months ended Sept. 30, 2014. The unaudited condensed interim consolidated financial statements and related management's discussion and analysis for the three months ended Sept. 30, 2014, may be viewed on SEDAR.

Operational highlights

• On June 27, 2014, Revive announced positive results of its phase II-A human proof-of-concept study of REV-001 (tianeptine for treatment and/or prevention of opioid-induced respiratory depression).
• On Sept. 11, 2014, Revive named Dr. Robert Terkeltaub, MD, as principal investigator for coming clinical trials of REV-002 (bucillamine for treatment of gout).
• On Oct. 28, 2014, Revive applied to the U.S. Food and Drug Administration (FDA) for orphan-drug designation for REV-003 (tianeptine for treatment of Rett syndrome).
• On Oct. 30, 2014, Revive submitted an investigational new drug (IND) application to the FDA to conduct a phase II-A clinical trial of REV-002 in the United States.
• On Nov. 26, 2014, Revive announced FDA acceptance of its IND application, permitting it to initiate REV-002 clinical trials in the U.S.

Financial highlights

• Cash and cash equivalents at Sept. 30, 2014, totalled $982,360 (June 30, 2014 -- $1,188,919).
• The net loss for the three months ended Sept. 30, 2014, was $398,588 (Sept. 30, 2013 -- $37,752).
• The company's research costs for the three months ended Sept. 30, 2014, were $154,799 (Sept. 30, 2013 -- nil).
• On Nov. 4, 2014, Revive announced that it had filed and obtained a receipt for a preliminary prospectus in respect of a public offering of up to $5-million in common shares.

Fabio Chianelli, chief executive officer of Revive, commented, "I am very pleased with the clinical, regulatory and capital markets progress that we have achieved to date and the advances towards meeting our commitment to bring novel solutions for unmet medical needs such as in gout and Rett syndrome."

We seek Safe Harbor.