Stock Alert: Revance Therapeutics (RVNC) Brings Smile To Investors
Revance Therapeutics Inc. (RVNC) has been hitting new highs as the Company braces for a busy year ahead.
Revance Therapeutics is a biotechnology company developing neuromodulator products for aesthetic and therapeutic indications. The global facial aesthetics neuromodulator market is estimated to be worth about $2.2 billion.
The Company’s lead investigational product is DaxiboutlinumtoxinA for Injection (DAXI), the first, long-lasting neuromodulator.
Catalysts for 2020:
— DAXI, proposed for the treatment of moderate to severe glabellar (frown) lines, is under FDA review, with a decision expected on November 25, 2020.
— A phase II trial of DAXI for treatment of the full upper face – glabellar (frown), lateral canthal (crow’s feet), and forehead lines combined is ongoing, with completion of enrollment expected in the first quarter, with topline results in the fourth quarter of 2020.
— A phase II study of DAXI for treatment of forehead lines is underway, and topline results are expected in the second quarter of this year.
— A phase II trial of DAXI for treatment of lateral canthal lines (crow’s feet) is ongoing, with topline results anticipated next quarter.
— A phase II trial of DAXI for the management of plantar fasciitis is underway, and topline results are expected in the second half of 2020. Plantar fasciitis is characterized by inflammation and sharp, constant pain in the heel that can become incapacitating.
— A phase II study of DAXI in upper limb spasticity study is enrolling patients and completion of the enrollment is anticipated by mid-year 2020.
— A phase III study of DAXI in cervical dystonia is ongoing, with results expected in the second half of the year.
— Revance and Mylan has a Collaboration and License Agreement to develop and commercialize a biosimilar of Allergan’s Botox. Mylan has time until April 30, 2020 to decide whether or not to continue the biosimilar BOTOX program.
As of January 3, 2020, the Company’s unaudited cash, cash equivalents, and short-term investments totaled $306.1 million.
RVNC has traded in a range of $9.88 to $25.09 in the last 1 year.
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