Revance Therapeutics Inc (RVNC)

[edcoolidge]

Bulls certainly underestimated how many pathetic and unscrupulous CosmeticMDs exist in aesthetics but many injectors are stocking Daxxify and I see new practices announcing it daily.

[biotech_researcher]

The ugliest thing is the competition and their proxies are rallying around stopping RVNC’s progress. If the injectors avoid stocking Daxxi, that is not good.

[usma67korea]

Q1 is never a good qtr for most bioland stocks. don't expect that to be diff here. and ceo has said so in prior comments. i think key is keeping the same 2024 overall guidance even w/ soft q1 #s (which i expect). and maybe, just maybe in Q2 or Q3 ER, they can actually beat the guidance and/or raise 2024 overall #s. that would be something. i don't think Q1 # by itself means much as long as overall 2024 # is in tact or even higher than $280 guidance.. (of course if lower guidance, then sure, we will lose even the $3 handle maybe), but i am here for 4-6 qtrs as this will take a lot of time to play out

[Lishur]

Added 3.83

[PioneerUniverse8]

if q1 numbers don't fit into that $280 million EOY revenue picture, it will get much uglier. We will know soon enough.

[usma67korea]

w/ RVNC, not a stock you want to be watching tick by tick every day. that will make LT holders suicidal. i have been in RVNC for years (did exit a couple of times too), and recently entered, and I knew this would be a very long turnaround, if at all. i think we get Q1 ER out of the way (nothing special prob.) and need to see Q2 and Q3 to be the pivot point to turn this around. usually before that happens, share price would have bottomed well beforehand. i think 3.7 today would turn out to be the bottom.

[vinmantoo]

Bought more.

I sold a bit today at $3.87 to generate a tax loss I need for 2024 tax year. I still own close to my highest share level ever. I kept waiting for RVNC price to stabilize but it doesn't look like it right now. I plan to buy the shares back when the wash period has ended, and the way RVNC is going, I doubt it will be at a much higher price if higher at all. Good luck on your most recent buy. I added a bit more ABBV. With geopolitical tensions rising. I went for a solid stock with lots of cash.

[vinmantoo]

3.8....unreal.

One thing I learned from investing is that just when I think a stock price can't get any lower. it goes lower.

[stocksrising]

Will also be buying $3ish print today as well as currently offering out 50 puts @ $2.5 strike(Oct 18th expire) …

[Tomdontworry]

I thought the same, for 40M big fish can take 10% of MC and clean house.
Another issue i see is SG&A for Revence - similar revenue to Evolus but $130M more expenses.

[iwfal]

Therapeutics might be the only way out of this mess.

No:

A) ~half the therapeutic market is migraine, on which Allergan has patents.
B) it’s going to take significant time to develop the Daxxy specific protocol on Spastic Limb, which is the majority of the remainder
C) by having to lower their price in aesthetics, and, unlike Allergan, using the same price in therapeutics plus lasting longer per treatment, the total market will be much lower.

There isn’t that much near term (next few years) money for Revance in therapeutics.

[DaveAu]

This company would be a good target for an activist investor to get involved in. I'm pretty sure investors wouldn't support the current board.

[randychub]

Bought more.

[PioneerUniverse8]

all of a sudden now that $6.25 raise looks phenomenal

[alertmeipp]

3.8....unreal.

[biotech_researcher]

Therapeutics might be the only way out of this mess.

[mrwilson31]

Wow!!!

[vinmantoo]

Well, closed under $4/share. Some day RVNC will stop going down. I just hope it is before it gets to zero. 🤣

A little gallows humor.

[DewDiligence]

Those are ancillary data on retreatment intervals from the ASPEN-1 and ASPEN–OLS trials. Worth knowing, but not market-moving.

[go seek]

I’m sure the data presented are positive for Daxxi and Revance, but this data won’t move the stock.

[girlfriend]

Is any body expecting positive data on Daxxify from the conference currently taking place: https://ih.advfn.com/stock-market/NASDAQ/revance-therapeutics-RVNC/stock-news/93643006/revance-to-present-new-daxxify-data-at-the-americ

[stocksrising]

Yes sir, agreed..mainly it’s regarding 3rd Tranche, and if he can share any color( which is doubtful, but never know til you ask) or do we have to wait for Q1 CC…Will update if anything meaningful

[Emannow]

Just an example, there is a Med Spa doctor in the Mid Atlantic and she makes $140,000 plus annually published on the Sunshine Act as a speaker for Botox/Juvederm. My guess is the practice also get $40,000 to $60,000 in free staff training products which are sold to patients at full price. This type of bribery goes on all across the USA with dozens of injectors.

This Med Spa doctor will not even see the RVNC rep!!!

[stocksrising]

Pretty sure this is the same Laurence( his says New Street) that is the contact person, but just him VM and start repore

Investors
Laurence Watts, 619-916-7620
[e-mail]

[edcoolidge]

Some aesthetics practices may genuinely not be offering Daxxify because they were turned off by their interactions with their Revance sales rep or management but that doesn't really pass the smell test. It's clear many unscrupulous CosmeticMDs are being compensated financially by Abbvie/Galderma one way or another to steer their patients towards the legacy toxins and maintain the status quo. In therapeutics payers will have a very strong incentive to switch patients to the best toxin with the best price (Daxxify) and the doctors don't have a conflict of interest that violates their Hippocratic oath.

[DewDiligence]

The new IR firm (#msg-174240308) should be able to answer any question that Jessica could.

[DewDiligence]

RVNC IR is_now_handled_by Gilmartin Group, which has an impressive client list:

https://gilmartinir.com/clients/clients-overview/

The clients are listed in alphabetical order; scan down to see the full list. To see only the biotech clients, click on the “Biotechnology” tab.

[stocksrising]

Wow, I was thinking same question if she can share without recourse by HR…after losing Jessica, I lost a good contact that could answer some simple , legal questions ..

[Emannow]

I know Foley was 100% involved with ALL the bad decisions and he should be fired like any other CEO who has made terrible decisions. Foley is 100% a hatchet man, and my guess is that is why the Board kept him. Foley has loyalty only to his own paycheck! Foley is there for one reason, to bring the company into profit and sell it!

Sadly, RVNC is 100% a manipulated stock by the shorts...would not be surprised is AbbVie is shorting RVNC....Hopefully, Foley will get the Sxxt out of his mouth and make some type of positive announcement soon to change the course of the SP.

[stocksrising]

Ms.D,
Thank You for all the Insightful Information and although you put your employment on the line( ie-if “HR”alerted—not suggesting anything nefarious nor insider trading, whistleblow) I / we appreciate what you’re going thru!!!!
… and as an investor who is also down ~$350k+ (main account), I hope you continue and thrive at Revance..sadly the majority of my ‘circle’ of friends
(Palm Beaches, perhaps the most plastic place on earth other than Bev Hills, etc.) never have heard of Daxxy!! And although my 2 buds own the most successful practice’s here, they offer but seemingly not major supporters of the product ( at first it was the pricing, then duration claims) and now most disturbingly Foley/Management!!! I’m trying to touch base with them again to see if Foley is personally reaching out( especially to the larger of the 2 who boasted about his ‘friendship and respect/admiration) for him but had since waned :(

Curious, in your humble and noticeably informed opinion, is there another internal candidate, or perhaps more probable a person outside who could replace Foley?? Any internal ‘cooler’ discussions that you can share without recourse?
Thanks again and keep the faith, one way or another, many of US believe the company will prosper with or w/out Mark!!!!
GLTA

[PioneerUniverse8]

I thought you didn't like what Foley was doing to RVNC, like just two posts ago. Anything that happened in the meantime that made you change your mind?

[10nisman]

(Commentary: any investor who thinks it’s beyond the pale to admit a previous mistake should probably stick to mutual funds)

SMH. Admitting a mistake and marketing the mistake on Instagram are very different things. We have injectors on this board that cannot admit basic math errors and they're posting under aliases.

B) as for patients… your logic makes no sense. There is zero loss of face to admitting you moved practices because a different practice could make Daxxy work, and previous practice couldn’t.

What incentive is there for a patient to do this? You want a patient to throw a practice under the bus? The correct play would be for the great injectors (those who didn't get it wrong) to market these patients they helped not the patients themselves.

[iwfal]

Why would either a patient or injector make a video like that? Makes absolute zero sense. You want an injector to say... I'm an idiot and didn't know what I was doing, but now I do? Or you want a patient to say I went to a really bad injector but then found a new injector who knows what they are doing?

?

A) Injectors: There were, in fact, several Instagram injector posts like that from the early rollout phase. Injectors who noted it didn’t work very well initially, but they figured it out. (Commentary: any investor who thinks it’s beyond the pale to admit a previous mistake should probably stick to mutual funds)

B) as for patients… your logic makes no sense. There is zero loss of face to admitting you moved practices because a different practice could make Daxxy work, and previous practice couldn’t.

[Emannow]

The positive side is RVNC will survive and Daxi will be available for both aesthetic and therapeutic patients. Daxi will provide superior outcomes to many patients which the #1 goal in our medical world. The Aesthetic World will see faster onset, longer duration, improved skin tone and better profitability.. The Therapeutic World will see faster onset, longer duration, less side effects from spread to the toxin and lower cost to the patient, provider and payer. These competitive advantages will be the factors and forces which grow Daxi sales.

The Negative side is Foley is and has to bring the "expense element" of RVNC in line with sales revenues. Aesthetic Daxi will continue to gain market share as the aesthetic team builds and converts injectors to Daxi with the benefits of Daxi and the additional profits that Daxi generates for the practice. Aesthetic injectors are all about profits. Therapeutic Daxi will soon be available and selling which will continue to build market presence. Therapeutic doctors are all about providing patients with the best medical product to treat the patient's condition. International Daxi sales will also begin. And there is also the Generic Botox element which is coming soon,

Foley had to and is cutting costs in anyway possible in an effort to match revenues and expenses to create a profitable RVNC. From the communications on this board it appears Foley is doing just that. Share price will recover and begin to go up as soon as investors realize and see how RNVC has been rebuilt. Foley is a hatchet man going into a company that was destine run out of cash and is now rebuilding the infra-structure to match sales and will come out a shining star.

[Ms.Dtox]

Well leadership doesn’t communicate. All we have to go by is who is here to support product marketing and launches.

We no longer have a team to support Daxxify aesthetics relaunch efforts, we have no staff to launch therapeutics for CD. Everyone is gone - IR and Comms teams resigned. Media, PR, and investor relations has been outsourced. Not a great indicator.

[Ms.Dtox]

I’m referring to previous posts regarding the mall events and Erica posing in front of a wrapped vehicle. Those were not successful events by any stretch. This is just social media marketing.

There are plenty of organic social posts that are real and are favorable from top Derms and injectors.

[Ms.Dtox]

Hi. Answering your question about stock grants. I’m referring to vested stock units as part of negotiated signing compensation, vested stock units that were grants (still as negotiated compensation in lieu of annual raises) and employee purchased stock. The first two are earned as part of compensation and in my case I paid $48k for employee purchase stock over a period of 4 years that grew exponentially. We could not sell these during long black out periods. I also have Restricted Stock units that have not vested that aren’t worth much at this point.

I don’t think of this as a freebie or a windfall. It’s deferred compensation and money I earned and invested. 😞

[10nisman]

<<< Instagram - I’ve yet to see a *recent* Instagram of either a patient or injector who made reference to fact that initially they had problems, but decided to give it another try with a more experienced injector and it worked great. >>> SMH. Why would either a patient or injector make a video like that? Makes absolute zero sense. You want an injector to say... I'm an idiot and didn't know what I was doing, but now I do? Or you want a patient to say I went to a really bad injector but then found a new injector who knows what they are doing?

[iwfal]

Instagram - I’ve yet to see a *recent* Instagram of either a patient or injector who made reference to fact that initially they had problems, but decided to give it another try with a more experienced injector and it worked great.

Revance is going to need a lot more of this (above) kind of patient or injector.

[go seek]

Daxxi review
https://www.instagram.com/reel/C5Piu2cMvqv/?igsh=MTUzZ3Y3bmZrcTVyaw==

https://www.instagram.com/reel/C38JIsaRd9C/?igsh=bmx1a3F4MnhnODYz

[wowster]

Do you see it turning around?

[mouton29]

You say,

Rather than having a lasting treatment, the condition treated starts to return in three months or less and you have to live with it for another three months or more.

Evidently you believe that redosing is not permitted for 6 months? Where is this coming from? It’s flat wrong.

From the package insert:

DAXXIFY should be administered no more frequently than every three months.

https://www.accessdata.fda.gov/drugsatfda_docs/label/2022/761127s000lbl.pdf

And later, we have:

In an 84-week open label repeat-dose safety study in glabellar lines, 2691 subjects were treated with 40 U of
DAXXIFY. Of these, 2380 subjects received one treatment with DAXXIFY, 882 received two treatments with
DAXXIFY and 568 subjects received three treatments with DAXXIFY. Adverse reactions were reported in 535
of the 2691 subjects (20%). The adverse reaction profile was similar to that reported in single dose trials.
Injection site reactions were the most common adverse reactions, reported in 9% of subjects [including injection
site pain (4%) , injection site erythema (3%), injection site oedema (3%), injection site bruising (1%), injection
site papule (<1%), injection site pruritus (<1%)], followed by headache (5%), edema (2%), erythema (2%) and
eyelid ptosis in 1% of subjects. The incidence of these adverse reactions did not increase with multiple re-
treatments.
6.2 Immunogenicity
…
Treatment with botulinum toxins may result in the formation of antibodies that may reduce the effectiveness of
subsequent treatments by inactivating biological activity of the toxin.
Among 2786 subjects receiving up to 3 treatments with DAXXIFY in the phase 3 studies, 12 Subjects (0.4%)
had preexisting binding antibodies to daxibotulinumtoxinA-lanm and 75 (3%) had preexisting binding
antibodies to the 35 amino acid peptide excipient RTP004. A total of 20 (0.8%) subjects developed treatment-
emergent binding antibodies to daxibotulinumtoxinA-lanm and 33 (1.2%) subjects developed treatment-
emergent binding antibodies to RTP004. No subjects developed neutralizing antibodies to DAXXIFY. [Emphasis added]

The data discussed above in the package insert is presented in more detail in the peer reviewed articles summarizing results for the Daxi open label trial— redosing took place as early as after 12 weeks.

[vinmantoo]

Therapeutic is everything.

Nonsense. Aesthetics AND therapeutics are everything

[alertmeipp]

I agree they could sell it for $8 for sure but they won’t unless they have been lying to investors

Don’t think we have disagreements on this

[vinmantoo]

We are not “savvy investors”, and a lot of us have never sold a single share of Revance stock. We are humans first, and employees with kids, babies on the way, student loan debt, mortgages, retirement plans. Our compensation packages were initially structured where Revance stock was big financial motivator to stay. We also believe(d) in the product but not in Dustin and Mark’s strategy, yes Mark was in on it. It was a strategy I quietly questioned.

Are you talking about stock grants that never became in the money? If so, I am sorry you didn't get a big windfall but you didn't lose money you invested. Most people don't get stock grants in companies where they are employed. I have never gotten a single share when I worked in companies, not that I am upset or unhappy about it. If I did get them I would consider them as a possible windfall not count on them as money. By the way, I think companies are way too extravagant in doling out stock options and stock grants to employees.

To date I have lost almost $400k in Revance stock, I imagine some of my colleagues with bigger titles or longer stints have lost a lot more, but that’s a life changing amount of money for me.

I am sorry you have lost money, just as I am sorry for anyone else who has invested in RVNC and lost money myself included, but it isn't wise to invest in a company in which you work. That was the lesson the ENRON collapse should have driven home. If you are talking about stock grants and incentives that you were awarded and not being in the money, then you really didn't lose money because you didn't invest your own cold hard cash into RVNC. Even so, I am sure it hurts so I feel sorry for you and your co-workers.

More difficult are comments here about my colleagues losing their jobs as “cutting the fat” or “losers in marketing” or worse “good riddance”, as if applauding the indescribable loss of livelihoods and many millions in employee stock grants and purchases that have disappeared overnight.

Always sorry to hear about people losing their jobs, but that happens in businesses that are struggling, and RVNC is certainly struggling as it pushes to increase Daxxify market share in aesthetics and begins to enter the therapeutic market. I don't take any pleasure in seeing peopIe lose their jobs. I hope you and your coworkers are able to make it through, if not at RVNC, then perhaps at another job where you feel less stress, less pain and less anger.

[Aestheticexec]

RVNC is a tragic story - cash hemorrhaging launch strategy in aesthetics that good & experienced people knew wouldn’t work. Self dealing and massive ego trips. Daxi could be positioned as THE workhorse toxin for aesthetic practices, paired with a workhorse filler line. Instead… investors got “prestige.”

Therapeutic is everything.

[vinmantoo]

What?? Are you actually saying a person must try the products a company sells before having an opinion? Wow!! Does that apply only to RVNC or is it for every company?

[go seek]

Yes… without a doubt Daxxi is an exceptional product. Tested experts vouch for its effectiveness, the high quality results and patient satisfaction. Experience with Daxxi is growing… with that, demand for the product will grow. The Genie is out of the bottle.

[10nisman]

Thanks for the post.

More difficult are comments here about my colleagues losing their jobs as “cutting the fat” or “losers in marketing” or worse “good riddance”, as if applauding the indescribable loss of livelihoods and many millions in employee stock grants and purchases that have disappeared overnight.

All RIF's and headcount reductions are difficult. Nobody wants to make them, and good people get caught-up in them (along with unneeded / low performing employees). Unfortunately today, most employees have never experienced a RIF and the emotions that come with it (anxiety, etc.). I've seen countless RIF's in my restructuring days, and all of them were needed to put the business in a position to survive and in a lot of cases thrive. With the onset of AI, all employees should be evaluating their actual value and how they are likely going to be impacted over the next 24+ months.

We are not “savvy investors”, and a lot of us have never sold a single share of Revance stock. We are humans first, and employees with kids, babies on the way, student loan debt, mortgages, retirement plans. Our compensation packages were initially structured where Revance stock was big financial motivator to stay. We also believe(d) in the product but not in Dustin and Mark’s strategy, yes Mark was in on it. It was a strategy I quietly questioned.

The product is the same, and the share price is fixable. I don't know one great company that hasn't seen their share price cut in half at least once, nor hasn't implemented sizeable RIF's... Life is about what you do when you've been knocked on your butt. The good / great people use it as motivation to thrive --- bouncing back quickly, while others find it as a perfect excuse to complain and blame their life outcomes on others. Ball is in your court...

Working at Revance is as Emmanow said, “sad”. It’s also like walking barefoot on a tight rope laden with shards of glass. We don’t sleep at night with worry, by day it’s hard to focus on work.

Like I said earlier, for those that have never been through a RIF or who aren't comfortable they are adding real value, often experience anxiety during times like this. The best employees step-up --- rolling up their sleeves and willing to take on even more responsibility. And although it's always easier said then done, you cannot control the things you cannot control. Worrying you may be next doesn't help anyone. Focus on what you can control and kick-ass everyday.

[10nisman]

Wonderful rule!!! If everybody were to follow it, including you, of course, there would only be one or two posts in the last few months.

Ian --- I'll be happy to pay for your Daxxy, as you could really use some real-life experience before talking absolute non-sense. BTW, my real life experience is via my wife and sister who have had similar wonderful experiences as Dew.