Evolus, Inc. - EOLS STOCK NEWS

Evolus, Inc. (NASDAQ: EOLS) announced the U.S. International Trade Commission (ITC) partially affirmed a Section 337 violation against the company regarding the Jeuveau^® product. The ITC has imposed a 21-month ban on the import, sale, and marketing of Jeuveau^® in the U.S., a reduction from the ALJ's proposed 10-year ban. Evolus plans to post a bond to continue sales during the 60-day presidential review period. CEO David Moatazedi expressed commitment to overturning the ITC decision and thanked stakeholders for their support.

Evolus, Inc. (Nasdaq: EOLS) announced the promotion of Michael Mazen Jafar to Chief Commercial Officer and Jeff Plumer to General Counsel, effective November 1, 2020. Jafar, previously Chief Marketing Officer since June 2018, successfully launched Jeuveau®, a leading aesthetic neurotoxin. Plumer has been instrumental in key milestones, including the company's IPO. CEO David Moatazedi acknowledged their contributions and emphasized their roles in preparing Evolus for future growth.

Evolus, Inc. reported Q3 2020 net revenue of $17.7 million, marking a 34% increase compared to Q3 2019. The results included $16.9 million from U.S. Jeuveau® sales. Gross margin was 72.5%, and GAAP operating expenses decreased by 38% to $21.6 million. The GAAP net loss reduced by 57% to $11.5 million. Cash reserves grew to $110.1 million from $84.8 million in Q2 2020, bolstered by a $40 million investment from Daewoong Pharmaceutical. Key highlights include increased demand for Jeuveau® and a growth in purchasing accounts.

Evolus reported Q2 2020 net revenue of $7.8 million, a significant increase from $2.3 million in Q2 2019, largely driven by a recovery in business as COVID-19 restrictions eased. Approximately 90% of revenue was generated in the latter half of the quarter. The company's gross margin improved to 75%, and operating expenses saw a reduction of 34% to $24.7 million. A $40 million convertible note financing and a pro forma cash position of $124.8 million bolster financial stability. Key marketing initiatives for the Jeuveau® product have shown promise.

Evolus, Inc. (NASDAQ: EOLS) announced it will report its second quarter 2020 financial results on August 10, 2020, after U.S. markets close. The company, known for its customer-centric approach and breakthrough products, will hold a conference call at 4:30 p.m. ET the same day to discuss the results. Dial-in details for the call are provided, along with a replay option available until August 17, 2020. Evolus is recognized for its FDA-approved neurotoxin Jeuveau^®, specifically targeting aesthetics.

Evolus, Inc. (NASDAQ: EOLS) announced a significant investment from its partner, Daewoong Pharmaceutical Co. Ltd., amounting to $40 million through a five-year, unsecured, subordinated, 3% convertible note. The conversion price is set at $13.00, a 144% premium over the stock's closing price on July 6, 2020. This investment reflects Daewoong's long-term commitment to Evolus and confidence in its intellectual property. With this funding, Evolus anticipates a strong pro forma cash position of $125 million following the transaction.

Evolus, Inc. (NASDAQ: EOLS) reported a non-binding initial decision from the Administrative Law Judge in the US International Trade Commission case brought by Allergan and Medytox. The ruling found a violation of Section 337 of the Tariff Act, with a final determination expected by November 6, 2020. Evolus disagrees with the ruling and plans to petition for its review, arguing that the case improperly uses the USITC to resolve a dispute between two foreign competitors. Despite the ongoing legal issues, the launch and product supply of Jeuveau remain unaffected.

Evolus, Inc. (Nasdaq: EOLS) reported Q1 2020 financial results, revealing net revenues of $10.5 million, affected by a $10.2 million coupon provision. The gross margin was approximately 60%, lower than previous quarters due to increased coupon activity. The company implemented measures to conserve cash, including a 40% workforce reduction. Despite challenges from COVID-19, Jeuveau® saw a 15% increase in purchasing accounts, totaling over 4,100. Evolus projects nominal revenues for Q2 2020 but anticipates sequential improvement in U.S. net revenues for the remainder of the year.

Evolus, Inc. (NASDAQ: EOLS) will release its first quarter 2020 financial results on May 11, 2020, after U.S. market close. The company, known for its innovative aesthetic product Jeuveau®, invites investors to join a conference call at 4:30 p.m. ET on the same day. Participants can access the call via specific dial-in numbers or through a live audio webcast on Evolus' Investor Relations page. A replay will be available for a limited time post-call. Evolus aims to revolutionize the beauty industry with its customer-centric approach and advanced technology.