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DewDiligence

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DewDiligence

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Re: DewDiligence post# 205719

Tuesday, 02/28/2017 2:30:49 PM

Tuesday, February 28, 2017 2:30:49 PM

Post# of 251625
RVNC liquidity and cash-usage guidance (corrected):

http://finance.yahoo.com/news/revance-releases-fourth-quarter-full-210500131.html

RVNC’s pro forma cash balance at 12/31/16 was $195.3M; this consists of $185.5M of cash on the balance sheet at 12/31/16 and ~$9.8M ($10.1M before fees) of cash raised via the ATM facility during Jan-Feb 2017 by selling 470K shares at an average price of $21.52/sh.

4Q16 cash usage of $15.8M was in-line with the company’s guidance given in January (#msg-127712931).

2017 cash-usage guidance continues to be $102-112M (exclusive of financing transactions). However, as a result of the money raised in early 2017 via the ATM, RVNC now projects that it has sufficient cash to last into 4Q18—one quarter longer than the prior guidance.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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