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Just read it. Nothing new. His bear thesis is that RVNC will run out of cash before they reach profitability. He also overstates the significance of the Abbvie lawsuit, imo.
The double dose canard refuses to die :(
Mark said they have over 7000 total accounts—which by the way is an increase from the "over 6500" accounts in the Q3 earnings release and call. Does anybody remember what Toby said on the call a couple of weeks ago?
Emannow, remember when Mark says they are doubling back we don't know how many of the now ~4500 accounts that buy RHA only might have passed on Daxxify at the higher price. With price parity there's no reason that most of those accounts—except for any who might be illegally compensated by Allergan/Galderma—shouldn't be buying Daxxify.
Shame she called it Daxtify, but I'll take it!
jbog and RVNCQ, this one's for you:
This injector's Instagram post says it all. She's had Daxxify for a year now. Despite the slow rollout for aesthetics and all the training provided by Revance, it has taken many injectors time to finally accept that Daxxify is unique and requires a different technique to get excellent results. Revance is battling human nature: people are lazy—even smart people. Revance can not afford a repeat of this in therapeutics. The CD rollout is slow and measured as it should be.
The RVNCQ fixation with the slow CD rollout is pathetic.
Unlike in aesthetics where patients are starting to ask for Daxxify by name, there really are no second chances in therapeutics when dealing with insurance payers. Rushing the CD rollout and risking long term penetration just to generate a few extra months of sales on the front-end is not a trade-off I want RVNC to make.
Vin, the article is not about picking stocks, it's simply reporting on how badly small-caps have underperformed the broader market this year. The worst in 25 years in fact.
Many people (myself included) consider such a setup to be a good buying opportunity.
That's correct. Yet Revance has been punished along with other small caps that have floating rate debt. The market is pricing in that Revance will need to offer more debt at higher rates eventually to get to cashflow positive—although the company's official position refutes that.
The article is about small cap stocks generally, of which RVNC is obviously a member.
RVNC sell-off is not just about Revance.
Some might call this a "generational" opportunity:
https://www.wsj.com/finance/stocks/these-stocks-are-trailing-the-market-by-the-widest-margin-in-25-years-a123b0cd
Daxxify will see increased sales from Botox Day!
It's not in Revance's interest right now to spend any money or effort on a DTC "Daxxify Day" because not enough people know about Daxxify yet and not enough practices offer it. However, when people come in for Botox Day, those practices that actually care about giving their customers the best results will inject Daxxify instead.
I value your input on this board even though I strongly disagree with you on a lot of things. EOLS and RVNC are competitors. I wouldn't care about EOLS shareholders except that EOLS management has intentionally pushed misleading data to hurt RVNC.
Let's not conflate two separate things. I'm brash—people can deal with it—but my "personal" attacks on CosmeticMD are because he is a proven liar who spread outright lies about Daxxify on this board.
Excuse me? CosmeticMD is a proven liar. Please explain the discrepancy in the screenshots below?
You are an EOLS shareholder, not a RVNC shareholder. You've also shown that you are gullible with the extra-strength Jeuveau data. See Dew's excellent post on that. Why don't you go post on the EOLS board instead of here.
Instead of blaming Revance for your failures Justin, just give up with the bogus skincare line and learn how to inject Daxxify properly. If you lose all your injectable practice customers you have nobody to blame but yourself.
Disappear Justin. I know your wife is considering leaving you because your skincare line has tanked. Is that why you've had to rebrand multiple times now?
I'm sorry that Daxxify is threatening your Dysport business too.
Justin, we've been through this. You're both a plastic surgeon and a cosmetic derm, and you love to talk about it too.
"CosmeticMD" is actually not generic. It was pretty sloppy of you to reuse that handle on this board. Just like it was sloppy of you to say you never shorted the stock and then say you did.
You should disappear Justin. Escalation of this is good for nobody. You have plenty to lose.
CosmeticMD (Dr. Justin Piasecki) is a liar.
https://www.cosmeticmdskincare.com/dr-justin-piasecki
https://www.harborplasticsurgerycenter.com/
You want to escalate this Justin?
I agree completely that it happens and it's not that rare. That said, there is absolutely no reason to think Revance management would be so negligent as to use it here or that they need to use it—and that's coming from someone who has been very critical of Foley's leadership recently.
Intelligence comes in many forms. Every smart person is dumb on a multitude of matters.
Daxxify is better than Botox. That has been clearly established by data.
Here are the reasons your wife might not agree. Why don't you tell us which answer is correct?
a) Too busy to learn the proper technique.
b) Lacking the ability to learn the proper technique.
c) Does not want to learn the proper technique for whatever reason (competing financial interest, etc.).
Your comments and the collapse in the stock price are coincidental, not causal.
Are you speaking generally or specifically about Revance?
What is not said nearly often enough is that Revance launched Daxxify into the market at a time when the consumer has made a rapid shift to retrenchment. The premium pricing strategy was devised during a totally different economic regime, and may have worked well if Daxxify had launched in 2020-2021. Of course Revance itself is mostly to blame for the long string of delays. The stock market is now incorrectly fearing that Daxxify will become just another commodified toxin. We, of course, know that's not true. The new lower pricing strategy will allow injectors to get Daxi in faces and nobody will want to switch back to Botox when Daxxify is injected properly. In time, Revance will be able to raise prices again.
You're so quick to hate on RVNC now jbog. I get it.
Yes, except they haven't even said they will definitely take the last tranche from Athyrium—although I expect they will, and they should.
You're just spreading FUD. Just because there's still shares unsold from the last ATM does not mean they intend to sell them, or would be so negligent to do it at the current share price.
I agree that it was not pessimistic... it was also not nearly optimistic enough given the strength of the products and the current share price. I don't think Toby did anything wrong—he just doesn't have the right personality. He's the CFO though so I don't necessarily expect that from him, but Revance has decided to send him out to these conferences to represent the company. Unfortunately, Mark is also lacking in sufficient enthusiasm and energy. Dustin has the energy but he's shown to be a dunce.
Thanks for the reminder! I started late and will have to catch the start on the replay.
Brilliant post! 💯
I just increased by RVNC position by 3.2% at $5.78. I'm nibbling.
I intend to continue accumulating if the price stays flat or goes lower.
Jeuveau extra-strength:
boraborak38 is a EOLS bagholder! 😂
The post this is in reply to is major copium. RVNC's recent struggles don't change the reality that EOLS is a trash stock.
All that nonsense totally sidesteps the issue that the extra-strength Jeuveau data is not really legit. Jeuveau also lacks all of Daxxify's other advantages.
I'm not letting Foley off the hook and I'd still prefer to see him exited.
However, the lower the price goes the less the Foley Factor matters. The assets clearly have intrinsic value separate from Foley. The idea that Foley is so incompetent that he will make the assets worthless is asinine.
Those people's influence pales in comparison of course. Xeomin doesn't have Daxxify's strengths (it's also a horrible brand name FWIW). Celebrity endorsement only goes so far. Daxxify needs it for visibility not for credibility. That's why my hope is that Daxxify gets organic—not paid—endorsement from celebrities. Also celebrities prefer to endorse products they actually like themselves. Since Daxxify is the best it's obviously what the Kardashians will be using personally!
I didn't mean paid—it could happen organically. A paid post from them is not even that expensive but I'd rather see them sell it with conviction because they like it best.
Agreed. But I don't work for Revance so I can knock injectors all day long :)
You're one Kardashian or Jenner post away from being wrong.