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Activist investor, similar to what happened to Disney recently. You buy into a company, then voice your disagreement of management/trajectory/strategy, and force a board seat vote. If majority of shareholders back you, well, you plant yourself or your person(s) onto the board and have a say in decisions.
I wont disclose how many i have but collectively we could probably gather the 3% necessary for representation vote.
That can be said for any start up, and then for any pharma company with LOE (see BMY, PFE). Daxi is best in class but is it enough?
Here is my take on Q1:
Good:
Reiterated 2024 guidance
Did not tap into the loan
CD roll out
Lipflip rollout
Fooly hosted dinners with 200 injectors
Bad:
Fooly spends way too much
Analysts don’t believe him
Fooly still CEO
Hail Mary
China approval - milestone payment + product launch (cant f-up with current know how)
I didn't think the drop would be so bad but at least we recovered 10% off lows. The company has 2B in acc losses worth 400M to acquirer…
I posted 2 questions in the chat box as well… i expected more from the investor day. We dont even know when earnings day is..
Now this is a HUGE deal. Multi millionaire celebrity plastic surgeon pitches Daxi… you would think these people would not only use the product but buy into the stock to own a piece of the pie.
This does not apply to Pharma. Each of the mega pharma companies put aside billions per year (per company) for strategic acquisitions (companies in p2, p3, post approval early stages). It is a cut throat competition to stay ahead of the pack, or become the next PFE, BMY. Now, RVNC is opex heavy, but find 100m in synergies (legal, hr, finance, c suite, hq, etc) and you got yourself a break-even earner purchase and potential future pipeline…
Daxi is best in class and costs similar, if not cheaper, than botox. There is huge growth potential in Aesthetics and Therapeutics markets, and dont forget the RHA fillers AND the new lip flip (no more fish lips??) campaign. My guess wall st lost faith in Mark’s failures, on top of non-existing IR dept. Now what i dont understand is why big pharma (Pfizer failed to acquire Allergan) has not yet bough this co for 2-3B.. every pharma co has huge budgets each year for acquisitions, and with the right leadership this company can be profitable sooner than projections with blockbuster potential… what am i missing?
Trading for cash in bank now. Best product on market but terrible execution. No IR department to pitch the business. Crazy how they offered at 6.25 and a month later price is 3.25. They need to support the stock and Foley is silent until Q1 call which is when? Hope we get a PR…
Favor, since you work at Revance, can you please tell IT/web design to remove Jessica from IR website. I dialed the number and a payroll associate picked up…
Hmm… would they need P3 study and BLA for this? Are we talking minimum 2 years before these hit the market?
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.
I did. Soma’s network sees uptick in sales so its not just one clinic. Do you own a clinic too and yours is not seeing any upticks?
The valuation is getting a bit absurd… $300M+ cash vs $430M market cap. In theory china approval can come anytime starting next week and then you have catalysts ER and therapeutics launch. If Soma is credible and Daxi is gaining traction then plenty to look forward to.
Now it is time for Revance to reignite the fire under this product and leta get back to low 30s…
Well, Evolus took their fair beating too back in the day. Went from high 20s to $3/sh and people made fun of David, the Allergan salesman with no CEO experience. Foley on the other hand sold his old business to Allergan for 2.5B. Foley made terrible decisions but he eventually corrects them. Did I vote to remove him via BOD? Yes, but that probably wont matter. Remember, both Evolus and Revence raised equity via stock offering days apart.
Investor lawsuit dismissed by court… maybe someone unloading? You would think it is positive for the stock…
Does anyone know when is china approval decision date?
Thank you for your input and please share with us what you can. The only positive i see here is that Jessica left because of investor pressure and that pressure should be reflected in the current vote.
Jessica left? That is a shame she was so nice and personable. She was on my speed dial 3 years back.
What do you think, Ms.Dtox, do we have a chance of a comeback? Personally i think Revance should colab with wedding makeup artists. They get free tox, clinic gets free exposure, revance spends little money.