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Revance Therapeutics, Inc. (symbol: RVNC) is a specialty biopharmaceutical company dedicated to the development, manufacturing, and commercialization of innovative botulinum toxin products for various aesthetic and therapeutic uses. Leveraging its proprietary portfolio of botulinum toxin compounds and the patented TransMTS® peptide delivery system, Revance aims to address unmet needs in the $3 billion neurotoxin market.
The company’s unique TransMTS technology allows for the delivery of botulinum toxin A in two distinctive formulations: a needle-free topical form and an injectable form that targets the site of injection for a potentially longer-lasting effect. Revance is actively pursuing clinical development for two main product candidates: Topical RT001 and Injectable RT002. RT001 is a topical gel with the potential to become the first commercially available non-injectable botulinum toxin dose form.
Additionally, Revance has launched a prestige aesthetics portfolio, which includes the RHA Collection of dermal fillers and the HintMD platform. Their primary products, DaxibotulinumtoxinA for Injection and DaxibotulinumtoxinA for Injection Aesthetics, are central to their aesthetic and therapeutic offerings.
Revance operates through two main business segments: Product and Service. The Products segment, which generates the majority of the company’s revenue, focuses on the research and development of aesthetic and therapeutic products. Recent achievements and ongoing developments reflect the company’s commitment to advancing the field of neuromodulation.
Revance Therapeutics, Inc. (RVNC) reported Q4 2022 total revenue of $49.9 million, a 92% year-over-year increase, while full-year revenue reached $132.6 million, up 70%. The RHA® Collection drove $34.8 million in quarterly revenue, and DAXXIFY® generated $11.0 million during its PrevU program. Despite revenue growth, operating expenses surged to $194.3 million for Q4, impacted by a $69.8 million goodwill impairment. The company anticipates 2023 operating expenses of $460 million to $480 million. DAXXIFY® is set to launch commercially in late March 2023, with a PDUFA date for cervical dystonia on August 19, 2023.
Revance Therapeutics (RVNC) appointed Dr. Vlad Coric to its Board of Directors, effective March 1, 2023. Dr. Coric, with over 22 years of experience in drug development, previously served as Chairman and CEO of Biohaven. He is credited with the successful commercialization of Nurtec® ODT and played a key role in Biohaven's acquisition by Pfizer for $13 billion. Revance's CEO, Mark J. Foley, highlighted Dr. Coric's expertise as beneficial during a pivotal time for the company, focusing on both aesthetic and therapeutic growth, particularly with DAXXIFY®. Additionally, Dr. Philip Vickers is retiring from the Board ahead of the annual meeting.
Revance Therapeutics, Inc. (RVNC) will participate in the 43rd Annual Cowen Healthcare Conference from March 6-8, 2023, in Boston, Massachusetts. CEO Dustin S. Sjuts and CFO Tobin Schilke will engage in a fireside chat on Monday, March 6 at 9:50 A.M. EST. Interested viewers can access the live audio webcast through the Investor Relations section of their website, with a replay available for 90 days post-event. Revance focuses on developing innovative aesthetic and therapeutic solutions, including DAXXIFY® and a biosimilar to onabotulinumtoxinA, targeting muscle movement disorders.
Revance Therapeutics, Inc. (RVNC) announced promising new data for DAXXIFY®, a treatment for cervical dystonia, to be presented at the Association of Academic Physiatrists annual meeting from February 21-24, 2023. The findings from 382 patients over 88 weeks showed a duration of efficacy lasting 20-26 weeks with a low adverse event rate. Dysphagia rates were reported at 2.7% and 4.2% in two studies. Dr. David A. Hollander emphasized the sustained effectiveness and safety of DAXXIFY® across multiple treatment cycles, which could enhance therapeutic options for cervical dystonia sufferers. Regulatory review by the FDA is currently underway.
Revance Therapeutics, Inc. (RVNC) will announce its fourth quarter and full year 2022 financial results on February 28, 2023, after market close. A conference call is scheduled for 4:30 p.m. ET to discuss these results and provide a corporate update. Interested participants can join by dialing (800) 715-9871 with conference ID: 1286316 or via the webcast available on their website. A replay will be accessible from February 28 until March 28, 2023. Revance is recognized for its innovative aesthetic and therapeutic solutions, including DAXXIFY® and a biosimilar collaboration with Viatris Inc.
Revance Therapeutics (RVNC) reports a strong start for its DAXXIFY® PrevU program, with approximately 400 practices participating and positive patient feedback. Preliminary Q4 2022 revenue from DAXXIFY® is estimated between $10.5 million and $11.5 million, while RHA® Collection revenue shows impressive growth, projected at $34 million to $35 million, a 45% year-over-year increase. Full-year 2022 RHA® revenue is expected between $106.5 million and $107.5 million. Revance maintains its operating expense guidance and ends the year with around $340 million in cash and equivalents.
Revance Therapeutics announced that the FDA has accepted its supplemental Biologics License Application for DAXXIFY® (DaxibotulinumtoxinA-lanm) aimed at treating cervical dystonia. The PDUFA date is set for August 19, 2023. This treatment, noted for its long-lasting effects, was evaluated in two pivotal phase 3 studies showing significant efficacy with a median duration of effect of 24 weeks. The market for muscle movement disorders, including cervical dystonia, is nearing $1 billion in the U.S., indicating substantial business potential for Revance.
Revance Therapeutics (NASDAQ: RVNC) announced its participation in the 34th Annual Piper Sandler Healthcare Conference from November 29 to December 1, 2022, in New York City. CEO Mark J. Foley will present on November 29 at 10:00 AM ET. The live audio webcast will be accessible on the company’s Investor Relations webpage and will remain available for 90 days post-event. Revance focuses on innovative aesthetic and therapeutic products and is known for offerings like DAXXIFY™ and the RHA® Collection. The company also collaborates with Viatris to develop a biosimilar to BOTOX®.
Nanostics Inc. announced the appointment of Aubrey Rankin to its Board of Directors, succeeding Reg Joseph as an independent director. Rankin brings extensive experience in MedTech and FinTech, having formerly served as President of Innovation at Revance (Nasdaq: RVNC), where he integrated HintMD's patient-provider platform. His expertise is expected to aid in the launch of Nanostics' lead prostate cancer diagnostic, ClarityDX Prostate®, which uses a neural network algorithm to assess cancer risk based on biomarkers. The company expressed gratitude to Joseph for his contributions.
Revance Therapeutics (Nasdaq: RVNC) announced its participation in the Stifel 2022 Healthcare Conference on November 15-16, 2022, in New York City. CFO Tobin Schilke will present on November 15 at 3:00 p.m. ET. Interested investors can access the live audio webcast via the company's Investor Relations page at www.revance.com. The replay will be available for 30 days post-event. Revance is focused on innovative aesthetic and therapeutic solutions, including DAXXIFY™ and collaborations for BOTOX® biosimilars.