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It's not a premium product anymore after the price cuts. It's only a better product. If you were getting injected why in the world would you want Botox instead of Daxxify?
I'm looking for a big volume day before I add any shares. I still think we get one more washout or someone steps in and provides support.
If I was a salesman for a competitor then I'd tell injectors that RVNC is going to be out of business within a year so why use a product which won't be available to your patients. Whether it's true or not RVNC trades like it's headed to bankruptcy.
I work in surgery & see the medical reps relationships with the surgeons & if pharmacy sales are anywhere similar then I'm sure the reps discuss every aspect of how other practitioners are injecting. Reps direct the docs on how to use the instruments so I think things are a lot more casual then reading the FDA's guidelines.
I found this on off=label = "FDA is OK with the drug companies’ doing some indirect things, like responding to unsolicited requests for off-label information with truthful, balanced, non-misleading, and non-promotional scientific or medical information, or sponsoring educational programs or distributing medical journal articles in limited circumstances."
If a practitioner asks questions to the rep how other injectors are using the product then it wouldn't make sense for the FDA to have a problem with the rep guiding them on off-label use.
I've been saying for a long time that this sector is almost uninvestable. The drop in this stock just further enforces those beliefs. Thank goodness I haven't got more dollars tied up.
Morgan Stanley cuts Revance Therapeutics price target to $12 from $25, Equal Weight rating
When you've got people out there saying Daxi doesn't perform as well as advertised then it's an uphill battle to refute those claims. The biggest selling point was the longer duration & now CosmeticMD is saying sales personnel have been instructed to downplay the longer term efficacy. Its hard for an individual investor or patient to know what's true or not.
Emannow ; "The Daxi price decrease allows Large, Medium and Small MedSpas to price Daxi Long (40 units) at the SAME price as Botox (20 units) and still make the same amount of profit and give patients the 2 day onset, double the duration of Botox and amazing skin tone."
Edcoolidge posted that Botox is being marketed at $13/unit vs Daxxi @ $10/unit
If I use Emannow's statement above & the pricing Edcolidge provided then Daxi long $400 doesn't look like the same price as Botox $260. I just think its confusing for the consumer.
If price is the main factor holding Daxi back then it's still an uphill battle where some practitioners will say Daxi requires 2x or 1.5 the number of units as Botox to achieve the same results so it's not actually cheaper.
I'm looking for it to test the low's it made on investor day. I've seen it happen too many times where a biotech will make a little recovery after the initial drop on negative news & then retest those lows in a short time. We know the next quarters numbers will be a disappointment so I don't see a lot of buying pressure before the release but then again the analyst targets are still in the $30's after their revisions so you never know.
Are they not going to make available today's webcast of the Investor Day Presentation?
What was the surprise to the market that caused the sell-off? I can't find anything to justify a 30% drop.
I wasn't aware that Daxxify was more painful than other injections but a brief search showed he might be right. "With Daxxify, some people report a slight stinging sensation for a few seconds during the injection, the pH of the formula is a bit more acidic than other neuromodulators, thus the fleeting spiciness."
I have to believe it was a pretty simple decision to change the marketing strategy. It wouldn't take long for the sales team to tell you why the current sales program wasn't working & what changes injectors were telling them they needed in order to reorder.
I sold my position months ago since I was skeptical of the launch strategy & it looks like a lot of other investors felt the same way. I still think expenses are too high & disappointed in managements sales plan but the companies valuation is cheap enough to suck me back in. Good luck,
"We will see if management is successful in lowering expectations" I'm a lot more comfortable going into earning then I've been after listening to the call. I'd think any sell-of will be met with buyers.
" Been around the markets for 50+ years" I'm convinced someone believes investors are not going to like the 1st qtr numbers. The stock has struggled ever since the Piper Sandler private call.
We all know that whatever was said won't be repeated at Needham. Dew said it's not unusual to have one of these private call but what is unusual is for a stock to get blasted like it did today. Pretty unprofessional on the part of all parties involved. I'll be surprised if we don't see more downside. It just doesn't smell right to me.
I'm less inclined to pick-up shares if a management team is dumb enough to indicate re-orders may be less then the market anticipates on a private call.. I was really expecting a hit piece on Daxxify with the way the stock was trading but an unintended leak by management makes sense.
I stated we needed to wait for the injectors opinion before jumping to any conclusions so I'm glad to see him give some details on what he's seeing. It's an imperfect trial but it looks favorable for Daxxify. I hope we start seeing some videos from patients & injectors after using the product for 6 months or so.
3 month update for Split face trial.
I'd wait for the doc & patients to give their opinion. It looks like Daxxify is outperforming Botox to me.
This Doc's pretty excited about Daxxify. I haven't heard anyone else promote the peptides as a skin enhancer.
Please go to this guys video & tell him he's wrong.
Daxxify continues to get good reviews from patients.
The list was on twitter but I haven't been able to bring it back up with a search. It had about 40 or 50 names (SVB & biotech), maybe you know how to do a better search. Most of them were pretty small names. AXSM filed a 8K revealing they have a fair amount of exposure. I imagine Revance would have done the same thing if they did.
I emailed Revance investor relations but didn't get a response.
I saw a list posted yesterday of biotechs with cash balances at SVB & Revance was not in the list but no idea where their cash is held.
This is a pretty good summary of the process: http://www.legalandcompliance.com/mergers-and-acquisitions/
I'm sure Foley would report to BOD. The shareholders normally don't have to be notified unless a definitive agreement.
Reminds me of videos from 20 yrs ago.
Love how strong the stocks traded today since my other stocks haven't held up this well.
The stock ended down 7% for the day. Not sure what else investors could have wanted to hear on the call. They've got all the business they can handle.
The interesting thing will be to see how the real world practitioners are dosing. In the Allure article they only dosed 26 units between the forehead & 11 lines. I wouldn't be surprised if the practitioner diluted the Daxxify to 4u/0.1ml. If they still get an extended benefit then maybe that's one way to save patients a few dollars.
In the Cosmo article the doc was hesitant to inject Daxxify for a lip flip procedure but on another video the practitioner stated she was excited about using it for lip flip procedures since Botox only gave results for 6 - 8 weeks due to movement in the area.
Baron Discovery Fund made the following comment about Revance Therapeutics, Inc. in its Q4 2022 investor letter:
“Shares of Revance Therapeutics, Inc. (NASDAQ:RVNC), an aesthetics-oriented biotechnology company, detracted from performance in the fourth quarter. Shares had meaningfully outperformed in the third quarter, after the FDA approved Daxxify, the company’s longer-acting competitor to Botox that lasts about six months versus Botox’s three to four months. The stock is in somewhat of a news vacuum as Revance is training injectors and smartly implementing a tightly managed preview program ahead of a broader launch in the second quarter of 2023. Early feedback on Daxxify has been positive. Part of the stock weakness may also be due to concerns around the impact of macro headwinds on discretionary consumer spending. Although we expect some near-term impact to Revance’s RHA dermal filler portfolio, we think the impact will be temporary and shouldn’t be the focus given the imminent broader Daxxify launch. More importantly, we think Daxxify’s longer-lasting result is a key selling point for consumers, and we expect to see meaningful uptake of the product in late 2023 and beyond. Ultimately, we see Daxxify and the already-launched RHA fillers capturing significant share in the fast growing $4 billion facial injectables market and supporting more than triple the company’s current valuation.”
I think the easiest thing for patients to understand is that the injections will end up costing roughly the same for Botox vs Daxxify on a yearly basis. There's no reason for docs to confuse patients about the cost per unit unless they're trying to overcharge the patient.
This Allure write-up on Daxxify came up when I opened my Google browser today so maybe it's getting a wide audience. Dew will to happy to note the author didn't make the same mistake about a unit of Daxxify.
https://www.allure.com/story/i-tried-it-daxxify-review
I agree that it was a nice write-up. Everything was surprisingly positive. It was like a paid advertisement for Daxxify.
I wonder if investors are positioning for a big bump in the shareprice with the earning call on 2/28? The Daxxify update last month gave us a big spike so I'd expect the same with some positive details on the conference call.
I'm looking at options volume on Yahoo Finance. Not sure if that's the best source.
What's going on with the July options. Did they roll their $22.50 calls to the $30 calls. 10,126 have traded. I also see 15,126 in the $17.50 puts have traded.
You never know if some of these Doc's are locked into purchase agreements where they can't inject other products & have to do whatever is possible to protect their business. He mentions the product being marketed on social media & that's going to be his downfall when you see more & more individuals post their experience with Daxxify.
Yea, the company's put long-time investors through the grinder.
If you didn't like that injector then I've got a better one for you. No significant increase in longevity compared to Botox based on label. Daxxify is a higher dose which gives you a few extra weeks but added risks. He supposedly get's 4 or 5 months of results with his injectors since he's so skilled.