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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.
No. This chart is deceptive and intentionally misleading. I think @DewDiligence is the best person to explain why.
The providers have not been kind to Revance and Revance deserves it. But the providers have also shown themselves to be, on average, complete morons who can't figure out what injectors like @soma2022 have. We are not talking about a bright bunch. Daxxify will win when customers start going to the providers who offer it because it's just better.
That's right. Anybody who was needing to exit RVNC soon is in trouble. The cost basis on the shares I currently own—mostly acquired in 2019—is $11.44, but my trade-weighted basis is much lower because I've been trading this name for years. Earlier this year I sold some lots at $37 that I had acquired after the CRL in 2021 around $15. People who have held this stock and not traded it have been burned badly. People who have traded it with good timing have been rewarded handsomely. The key to good timing is understanding the story.
If you're not a fund manager 6-12 months is not exactly a long time horizon. Now that RVNC is trading well below the intrinsic value of its assets, I'd actually like to see it go lower near term because that would set up an opportunity for an extremely high probability of outsized gains. $2 to $10 is the same as $10 to $50.
I completely agree. However, Daxxify is just simply better. In aesthetics it's only a matter of time until providers who don't use Daxxify start losing their customers to those who do.
RVNC hit the ground with way too much confidence and arrogance, but Daxxify is one big celebrity social media post away from a viral moment that forces providers to jump onboard. I'm quite confident whatever medical devices you sold were not things that most patients knew or cared about the brand.
Only the launch of a superior toxin to Daxxify could derail this process and is what I consider the biggest risk to RVNC's long term success, but it's definitely not going to be extra-strength Jeuveau. 😆
You're forgetting that most practices still haven't even had their first impression with Daxxify yet. Only a small number of practices have been burned in the way you say. @soma2022 is making money selling Daxxify so I'm sure he's not too disappointed.
It's not going to hit $0 but it could go to $4 or $2. I'm hoping for $2!!!
As you know, Daxxify is clearly a superior product. The market is being highly irrational right now. I can't see the rights to Daxxify and the manufacturing facilities and RHA licenses being worth less than $1B (~$10/share) in an absolute worst case scenario.
Thus the lower it goes near term the larger the potential for outsized returns later!
$10/share is a laughable worst-case minimum buyout value imo.
I'm now rooting for this to go as low as possible in the near term!
I would be a buyer here if I wasn't already a bagholder—but I'm not going to add at this price due to my concerns over Foley. My cost basis is very low so even at the current price I wouldn't be averaging down much. If Foley is exited I would be a buyer above today's price. If Foley isn't exited I'd consider adding around $5.
Ending the call with "I don't know" was the straw that broke the camel's back for me.
Not knowing the answer is already pathetic, but ending the call on that note is unconscionable.
Foley: "I don't know."
That was how the earnings call ended yesterday. When Foley was asked (twice) if the new price was communicated to RVNC's customers, that was his answer. An absolute disgrace!
I previously defended Foley with the CRL but it's now crystal clear that Foley is not competent to run this company.
Thanks for all your commentary Emannow—you've been one of the best and most accurate sources on this board.
Thankfully Daxxify really is great, despite what the the massive FUD campaign says—although maybe not great enough to overcome Foley's incompetence. Ultimately Foley either needs to turn this ship around soon or the BOD definitely needs to act.
I am holding my position but not adding any more shares until either Foley is replaced or I see a major change in Foley's words and tone. The upcoming investor conference is an opportunity for Foley to do that but I am not optimistic he will. An open market buy from Foley would also go a long way towards restoring confidence, but again I don't see that as likely from him.
I can't recall if you previously revealed the relative weighting of your RVNC and EOLS positions. I think you maybe only went long RVNC recently? Regardless, your bias towards EOLS and against RVNC has been evident. I'm indifferent to what happens to EOLS stock and there's probably sufficient market share to be taken from ABBV for both RVNC and EOLS to do well.
However, my problem with EOLS is that they're promoting intentionally deceitful clinical data to make it appear that double-dose Jeuveau is comparable to Daxxify—which it most certainly is not. As a large EOLS shareholder you're incentivized to believe and spread these false narratives.
See Biotech Values #245275:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171071141
Exactly! The EOLS data is a total sham and it's not even new. It was already released earlier this year and discussed at length. It's unfortunate to see that @soma2022 and @boraborak38 are so easily fooled but that's exactly EOLS' game plan: confuse injectors. It's no match for Daxxify though and the patients will obviously see the difference themselves.
I'm not necessarily expecting formal guidance, but they obviously won't be able to avoid questions about the outlook in the Q&A.
If the outlook is positive there should be some mention in the press release and prepared statements on the call. If the Q&A is the first time we hear about Q4 and beyond that would be bearish.
Partly yes, of course. RVNC is far from the only stock in the toilet. RVNC fundamentals also contributed obviously to the multi-month selloff.