Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Revance Therapeutics, Inc. (Nasdaq: RVNC) announced its grant of 58,800 inducement restricted stock awards (RSAs) to eleven new employees. These RSAs will vest over a four-year period, with 25% vesting each year, contingent upon continued employment. The award approval is in compliance with NASDAQ Listing Rule 5635(c)(4) and aims to support the company's growth and employee retention. Revance focuses on innovative therapeutic solutions and has made progress with its investigational product, DaxibotulinumtoxinA for Injection.

Positive

• Grant of 58,800 RSAs indicates commitment to employee retention and motivation.
• Compliance with NASDAQ regulations demonstrates corporate governance.
• Focus on innovative products like DaxibotulinumtoxinA for Injection potentially enhances market position.

Negative

• None.

NEWARK, Calif.--(BUSINESS WIRE)--Revance Therapeutics, Inc. (Nasdaq: RVNC), a biotechnology company focused on innovative aesthetic and therapeutic offerings, including its investigational neuromodulator product, DaxibotulinumtoxinA for Injection, today announced new hire grants totaling an aggregate of 58,800 inducement restricted stock awards (“RSAs”) to eleven employees. The RSAs vest over four years, with 25% of the underlying shares vesting on each of the four anniversaries of the applicable vesting commencement date, subject to the new employee's continued service relationship with Revance through the applicable vesting dates.

The Compensation Committee of Revance’s Board of Directors approved the awards as an inducement material to the new employees’ employment in accordance with NASDAQ Listing Rule 5635(c)(4).

About Revance Therapeutics, Inc.
Revance Therapeutics, Inc. is a biotechnology company focused on innovative aesthetic and therapeutic offerings, including its next-generation neuromodulator product, DaxibotulinumtoxinA for Injection. DaxibotulinumtoxinA for Injection combines a proprietary stabilizing peptide excipient with a highly purified botulinum toxin that does not contain human or animal-based components. Revance has successfully completed a Phase 3 program for DaxibotulinumtoxinA for Injection in glabellar (frown) lines and is pursuing U.S. regulatory approval in 2020. Revance is also evaluating DaxibotulinumtoxinA for Injection in the full upper face, including glabellar lines, forehead lines and crow’s feet, as well as in three therapeutic indications - cervical dystonia, adult upper limb spasticity and plantar fasciitis. To accompany DaxibotulinumtoxinA for Injection, Revance owns a unique portfolio of premium products and services for U.S. aesthetics practices, including the exclusive U.S. distribution rights to the RHA® Collection of dermal fillers, the first and only range of FDA-approved fillers for correction of dynamic facial wrinkles and folds, and the HintMD fintech platform, which includes integrated smart payment, subscription and loyalty digital services. Revance has also partnered with Mylan N.V. to develop a biosimilar to BOTOX®, which would compete in the existing short-acting neuromodulator marketplace. Revance is dedicated to making a difference by transforming patient experiences. For more information or to join our team visit us at www.revance.com.

“Revance Therapeutics” and the Revance logo are registered trademarks of Revance Therapeutics, Inc.
RHA resilient hyaluronic acid® and RHA® are trademarks of TEOXANE SA.
BOTOX® is a registered trademark of Allergan, Inc.

Source: Revance Therapeutics, Inc.