Reviva Pharmaceuticals (RVPH) said Monday that preliminary topline data from a phase 3 study of brilaroxazine in patients with schizophrenia was positive as it demonstrated "robust broad-spectrum efficacy" that was sustained for more than one year.

The biopharmaceutical company also said brilaroxazine was generally well tolerated with no single side effect and favorable compliance.

Shares of Reviva Pharmaceuticals were up over 2% in recent premarket activity.