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Yesterday, the shorts were 61% of the trades and Thursday, 51%, Wednesday 60%…
Any thoughts on why the shorts would be working so hard to depress the SP?
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!!!
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.
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.
Spoke to a few people who still have jobs at RVNC Headquarters and they said it is a sad place since so many people have lost their jobs. I believe Dew's statement that Foley will eventually bring RVNC into profitability and sell the company. The sad part is Foley's bad decisions are the reason so many have lost their jobs. Foley should be ashamed of how his bad decisions negatively affected so many lives. Maybe Evolus will publish a pre release of their sales prior to Allergan's sales at the end of this month. I would expect RVNC sales to be similar to Evolus.
Per Q1 Daxi sales, I have heard several reps hit their Daxi quota ahead of their RHA quota...so Daxi is gaining traction and sales are growing. I believe Foley has a good idea on what CD sales will be and has factored these numbers into his current expenses to create a balanced spending budget for the next few quarters. RVNC will never go bankrupt since there are a hand full of companies who would buy RVNC today. Once the Allergan lawsuit is closed at the end of 2024, you will start to see buyout offers. Remember, Allergan sues everyone....There are always lawsuits happening between Allergan and their employees over miss use of the cash pay products...Allergan settles these out of court because Allergan does not want the legal system or FDA to have documented evidence of their doings. .Allergan has very dirty hands.
The sad reality is that the Wall Street computers are continuing to drive the SP down. At some point the SP will bottom which i think will be soon, Foley has to start communicating with Wall Street so investors believe in RVNC.
Recommend you stop buying! The shorts are going to drive the price into the "2" since FOLEY has his head up Russell's butt and he is not providing any positive guidance to create investor confidence! Yesterday, Shorts made up 57% of the trades, and today will be 60% to 70%...
Shorts are driving...This is what happens when someone who does not know what they are doing is the CEO.
I understand and respect your position and thoughts!
My issue is Foley was 100% in charge and owns the premium price strategy and also owns the fact that he waisted $300 million plus! He is the captain who has kicked everyone else off the boat he was driving and blames everyone else! He has never been a real leader and taken ownership!
I have watched all his videos and messages! Secondly, if you follow Mertz, Allergan or Evolus, their teams communicate weekly through Instagram and LinkedIn commentary on advancements with products and industry support! Foley or his team (which he may have fired everyone) has not provided a positive communication to investors or the general public since he did the last investor interview. All he discussed is how he is fixing the company..not his mistakes. He could announce the new lip indication for RHA3, he could announce their new VP of Sales who is doing…….to build and grow the RVNC culture, he could announce Dr Leed and all the Daxi trainers who are available to assist all and any practices with training and learning, he could announced the support RVNC is provided to the Nashville community, he could announce the learning and feedback from the CD Prev program, he could announce the CD sales team progress and programs, he could announce how RVNC is handling early orders for CD and off label therapeutic Daxi….there are tons of communications which could be shared which would build investor confidence and injector confidence and interest! If you know Instagram, providing quality weekly messages is #1 for development of loyal followers!
Foley seems to have this EGO and wants to surprise investors, especially the shorts, with good news rather than put out a constant flow of communications to build trust! Foley only has 1 product to make and sell Daxi and RHA to sell! Foley must communicate to investors, otherwise the shorts will continue to kill the SP! Sales are the magic, and sales grow faster when watered with positive feedback and industry news! As you know, most doctors/injectors are influenced by their doctor friends!
Foley should have a team of consultants who work with each RM and teach their practices how to schedule, price, market Daxi to their patients and the additional profit Daxi will bring rather than continuing to pay himself more! Each converted Botox to Daxi patient is worth at least $500 more profit per year to the practice! Could be $1,000. Foley does not understand the toxin industry and how to communicate!
Sorry, this got a little long 🙄🙄
Foley needs to communicate with stock investors and rebuild trust and be honest! He is a silver tongued guy who now has to put actions behind his words and needs to show investors what he is doing! Why should anyone trust him???
Well the $100 million investors are now down 1/3 or $30 million in 2 weeks!
Foley has his head so far up Angul Russell's butt and his mouth is full of SXXX!
Foley by himself is KILLING RVNC....FOLEY MUST BE FIRED!
NOTICE, no communication from FOLEY! He is a trainwreck!
Allergan lost 4 Directors of Sales this past week to other companies…note, NONE want to work for Foley
Short interest is up 3 million shares...Wall Street know Foley is killing RVNC with his bad decisions....As long as Foley is CEO, RVNC SP will continue to drop! The few employees who remain from Dustin are all looking for jobs...they want out....Foley is killing RVNC folks...Wake up!!!!!
Foley is blowing millions of dollars every week and ALLEGAN LOVES FOLEY!!!
Foley has a huge EGO and is trying to hang on as long as possible. HE knows that the opportunity to bring a product to market like DAXXIFY which has won all kinds of awards, will never happen again!!!
FOLEY has killed the company with his terrible leadership and decisions....this is 100% a FOLEY TRAINWRECK!
Foley pulls out of 23 Needham Virtual Healthcare Conference...not surprising... Foley is getting big time pressure from share holders for his many bad decisions. Why would he want to discuss how is he is fixing his mistakes which cost investors billions while he pays himself millions...he should be fired!!!
Agree…my message says the are different prices
The Therapeutic price for a vial of Daxi is determined by a government formula. RVNC is required to provide their Aesthetic US sales for all vials sold each year. Also included are all FREE vials provided as part of a sale. Staff Training vials are NOT included in determining the "Average Vial Sales Price". Allergan gives accounts staff training vials and makes the account sign a document which says the account will NOT sell the staff training. Reps use the Staff Training vials as a way to lower the Botox price to practices knowing ALL practices sell the staff training vials. When using a staff training vial on a paying patient, the practice will take a lot number off of a paid vail and document it on the patient chart. If an audit is done of staff training vails, their lot numbers will never appear in the any patient charts. Yet the vials are missing from the practice inventory. This is 100% illegal and the FDA just looks the other way.
Back to the "Average Price Calculation"...the average price is determined by the Aesthetic Sales Dollars divided by the number of vials sold plus free units...The US Government then takes this "Average Vial price" and discounts it 30% to 33% which created the US Therapeutic Price...Government always gets the best price.
This is why Allergan raised their Aesthetic vial price of Botox this year....this automatically raised the Therapeutic Price of a vial of Botox, making Allergan an additional $50 million just from the price increase from Therapeutic Sales. If Allergan loses cosmetic market share, the revenue increase on the Therapeutic side more than makes up for the lost aesthetic revenue.
Since the Aesthetic and Therapeutic products are the same and owned by the same company, this is the government's way of pricing.
Evolus is trying to side step this government calculation with the Therapeutic ownership of Jeaveau by a different company.
Every morning the shorts sell between 14,000 and 30,000 shares at the open in an effort to drive the price down. Yesterday, 62% of the shares traded were shorts. The shorts will continue to drive the price down day after day as long as Mark Foley keeps his head up Angus Russell's butt. Mark Foley has NOT made a positive announcement is almost 12 months...All Foley does is announces how he is fixing his previous bad decisions which he did not realize where being made....Mark Foley's strategy is to SUPRISE the investment community with sales info and completely lacks any communication skills...that is why Investors have lost trust in him and continue to see Foley a a lose cannon! Rather than provide positive announcements on development (like Evolus and manage the investment community) Mark Foley has this "ego edge" which is why RVNC was arrogant and obnoxious! Where is the announcement for the new indication for Lips for RH3...Lips are now the #1 dermal filler injection area.....Allergan would be all over this new indication with press releases....Foley has his head up his butt. Dew, Foley is a trainwreck!
Jessica most likely left because she could not take the bad decisions of Foley!
Mark Foley's bad decisions and dishonesty in every area seems to be the central theme of RVNC. Great products (Daxi and RHA) and FAILED Foley leadership. The investment community realizes it is only a matter of time until Foley will make more bad decisions since he has no idea what he is doing. David Moatazedi worked for Allergan for many years and knows what works, what Allergan failed at and how to bring a product to market in a competitive environment. Mark Foley on the other hand, never worked in toxins, never brought a product to market in a completive environment and always claims he does not know what is going on. Which I am now coming to the realization, that he really did not know and still have no clue. As long as Foley leads, the SP will continue to drop. Blind leading the sheep... Maybe Foley makes the decision to wait a full year, to release Daxi for CD...needs 4 full cycles...RVNC needs LEADERSHIP!
Always a good day when the stock market goes up and RVNC just stays the same! Mark
Foley is doing an amazing job! I am sure all of you saw the Corporate announcement for the New Lip Indications for RH3! What a great job Foley is doing communicating to the Investor community....Wall Street believes Foley. And the new Lip Indication for RHA3 is from the FDA....not something which Foley is just making up in his head!
Dew, you have been quiet the last few weeks as the RVNC SP has continue to hit new lows every week. What are your thoughts on Mark Foley and Angus Russell?
We have all seen the many bad decisions Foley has made which have cost RVNC hundreds of millions and investors billions. Seems currently employed RVNC employees have and are experiencing the bad Foley decisions on a daily basis. How can investors continue to support Foley??
Spoke to a few different sources ( Physicians and sales reps) and both referenced Q1 2024 as the slowest quarter they have experienced in years. I have a feeling that ALL aesthetic companies will have respective numbers.
We will see!
Revance Wins Dismissal of Investor Suit Over Frown Wrinkle Drug
Investors allege being misled about timeframe for approval
Nothing to suggest company intended to deceive, judge says
Revance Therapeutics Inc. convinced a judge to dismiss a lawsuit brought by investors who allege the biotech company misled them about the time frame for regulators’ approval of an anti-wrinkle injection.
Even if Revance’s timeline was overly optimistic after regulators flagged “deficiencies” at the company’s manufacturing site, there’s nothing to suggest the company intended to defraud investors, Judge Araceli Martínez-Olguín in the US District Court for the Northern District of California said in a March 30 decision.
“Plaintiffs have not pointed to any evidence that Defendants believed that FDA approval was unlikely or would be delayed because of the deficiencies,” ...
Learn more about Bloomberg
Looks like $3 will happen soon! Maybe you do not realize, Mark Foley does not care about the stock share price! All Foley cares about is continuing to raise cash so he can pay himself $10 million a year. Foley is sucking cash out as fast as he can!
RVNC would create a pricing page for each provider on their Injector Finder. The patient would have to sign up to get access to the pricing page which would give RVNC the patients names, email and other info! The patient would have 100% transparent visibility to the provider prices. This would give patients a better understanding of the cost for Daxi, Botox, etc!
RVNC could trial the program in one big city for 2 months and get any bugs out!
This level of transparency would grow sales for providers who participate! Would be up to the providers to determine if they wish to participate! The patient is the target customer, not the injectors!
This would allow RVNC to build a database of with patients emails !
RVNC could allow Practices to share their patient pricing which would grow the market. Now patients would know before they make their appointment what they will pay per unit for Daxi, Botox, Juveau, etc....This transparency of patient pricing would give patients full disclosure which is the #1 goal of the FDA. This would be 100% voluntary by the practice to share their toxin pricing on the RVNC website.
Bringing new patients to an office is magical as each patient is worth $3000 to $4000 per year.
The only way to correct the muddy water that "Foley's bad decisions" have created is to establish 100% Daxi Transparency of Patient pricing and duration. Allergan hates transparency which is why they charge the injectors the way they do...Injectors have no idea what they pay per unit...it is impossible to determine and Allergan loves that!
If the "RVNC Daxi Injector Finder" includes the Daxi Unit price that the injector was charging, this would allow the cosmetic patient to find and book appointments with Daxi injectors who want to grow and are charging a fair price. I believe RVNC could legally publish the injector's price for Botox as well! Injectors are allowed to publish their prices anywhere they want!! Now a Cosmetic patient would see Daxi at $7.00 per unit (7 to 8 per unit) and Botox at $14.00 (14 to 15 per unit) per unit. Then detail on the finder website the specifics of each toxin...Botox lasts 3 months and the onset is 10 to 14 days. Daxi lasts 5 to 6 months and the onset is 1 to 3 days and additionally Daxi provides improved skin tone! Which product would a cosmetic patient go with????
This one feature would significantly grow Daxi sales and Allergan is helpless.
Transparency is Allergan's weakness!!!!
Asked a few RVNC Corporate employees over the Easter Holiday weekend what they think about Mark Foley and if Foley makes good decisions. Sadly, RVNC Corporate thinks Mark Foley makes terrible decisions, has been responsible for all the bad decisions and has lied about not knowing what was happening in an effort to keep his job. They are hoping Foley is removed ASAP!
The Mall Marketing Program is just another example of Foley's bad decision making. Everyone knows Toxin patients are "Working Moms" who do not hangout at Malls...If Foley just replicates what Allergan is doing, Daxi will grow and take market share...Allergan loves Foley who continue to make bad decisions.
Daxi is more profitable for the injector (injectors are all about $$) and has longer duration, better skin tone and quicker onset for the patient....Foley is killing RVNC!
Foley is simply taking as much money out of RVNC/Investors as he can before he finally gets removed by investors. Foley is does not have the skills to lead and manage RVNC is the many areas...RD, Expansion, Corporate Culture, Marketing, Pricing, Promotions, Sales,....etc...Foley is just sucking money!
Mark Foley is considered a terrible decision maker by the current RVNC management team. They laugh at his decision making skills. Past Zeltiq employees want nothing to do with Mark Foley as they too know his decision making skills. David Moatazedi from Evolus, runs circles around Foley! Foley still thinks that every RVNC marketing event must be kept a secret so Allergan does not know what he is doing. Allergan has 50 reps sending info into Allergan Corp withing 15 minutes of any new RVNC marketing communication and knows everything RVNC is doing. On the other hand, Wall Street knows nothing for weeks and has no insight which shows why Foley has lost the support of Wall Street. Foley has no idea what he is doing running RVNC or managing Wall Street. Foley is so far over his head and blames everyone else for his bad decisions. Foley can brag that he has waisted/spent with no benefit, more money (over $400 million) that RVNC has brought in with product revenue ( less than $400 million) Foley is a train wreck!
Angus Russell has no clue either. Would appear Russell and Foley both struggle to understand the toxin market...We can all just hope the share price goes up and we get our money back before Foley makes another bad decision.
In the last 10 trading days, short sales make up between 75% to 60% of all trades. Would appear someone is aggressively driving the share price down with excessive short sales. Wonder who that could be ???
The sad reality is that Mark Foley was asleep as a CFO and made terrible decisions in every area which cost RVNC millions and Investors billions! Mark Foley should be ashamed of his terrible performance!!! Mark Foley does not deserve to lead RVNC!
RVNC will definitely turnaround! They are cutting costs, and slowly building a base of loyal cosmetic injectors and patients! The Therapeutic launch in 60 days will grow Daxi sales and also bring more attention to the cosmetic duration of Daxi. Off label sales of therapeutic Daxi will also help! RHA continues to grow sales and at some point there will be announcements for Daxi in Europe, China and India! I am sure Foley is doing daily analysis of projected sales tied to total RVNC expenses to project when the breakeven will occur!
Just sad, that investors have to be part of Foley Follies to correct his stupid mistakes!
I was told during my many years at Allergan that a batch of powder is made every 10 years…then frozen and this block of powder is slowly shaved down
Historically, when Allergan makes a batch of toxin power, the powder is frozen and Allergan uses this batch for 10 years!
Maybe RVNC did the same and will not need to make Daxi for 10 yrs.
Sadly, Mark Foley continues to make bad marketing decisions! Dinner programs around the country…It is obvious that Foley does not understand that the cosmetic/ medical patient is the target audience…not doctors!
Look at AbbVie and the marketing of Skyrizi and Rinvoq which is replacing the revenue of Humaira. AbbVie went direct to the patient versus kissing doctors and asking the doctors to use their new product! AbbVie knows, doctors give the patient what the patient ask for!!! Foley does not need to spend on this level!
Daxi has both Cosmetic and CD approvals which should be marketed directly to the patient! Why do you think Allegan create Allie…this platform allows Allergan to market directly to each patient…and completely side step the injectors who are continuing to lose profits with every Botox price increase!!!
The CA office should have been closed months ago. R&D for what....Daxi already won Product of the Year in 2023...
Mark Foley needs to pull his head out of Angus Russells butt and learn from the Allergan Marketing Campaign used to make Botox so popular when in fact Dysport lasts longer then Botox. Foley needs to educate, educate, educate patients on why Daxi lasts longer than Botox and will cost the patient less money. Foley needs to use an educational marketing strategy, but with current marketing Tactics and Tools. Foley needs to educate the patient and overcome the many bad Foley Decisions.
Maybe a website which lists the Daxi providers/injectors and also lists the providers/injectors Daxi Price per unit of Daxi.....now patients can find Injectors and also be charged a fair price! Injectors are charging a premium price for Daxi since it lasts longer even though the Injector is buying Daxi at a lower price than Botox. Foley needs to figure out how to solve this pricing issue!
Per RVNC Sales reps leaving, Dustin created territories all across the USA which did not have sufficient activity to support a sales rep. Many of these reps are leaving because they could not hit their quota and make bonus. These territory should not have been created and are being divided up between existing reps. This was another bad management decision!
Again yesterday, 3/18, the shorts were 76% of the RVNC Trades.
How long will this continue?
According to Fintel, 76% of the RVNC trades yesterday, Friday, were shorts and 71% on Thursday. Fintel is approximately 50% of the total trades! This is the highest % ever in history.
Any thoughts why the shorts would be so aggressive now?
Mark Foley and Angus Russell have destroyed investor confidence in RVNC. How low will the shorts drive the price?
Thoughts? $4
Repairing an injector relationship takes that injector losing 3 or 4 regular patients to another practice who is offering Daxi (2 Daxi units to 1 Botox) at the SAME price as Botox or any other toxin and their patients are getting double the duration of Botox or Jeaveau . Injectors are ALL ABOUT MAKING MONEY...
You repair comment is 100% incorrect!
RVNC New VP of Aesthetic Sales is Corey Padovano..was announced internally today.