Thursday, March 16, 2017 11:35:33 PM
This is from November 2016 but I thought it was worth sharing.
Aegis Capital assumes coverage on Revance Therapeutics (Nasdaq: RVNC) with a Buy rating and $28 price target.
Analyst Difei Yang noted the following with today's initiation:
Opportunity to tap into a large Botulinum toxin market. Botulinum toxin is currently a $3B market, set to reach $5.6B by 2020. Though it is largely a concentrated market, with Botox holding ~85% of the market share, we believe that RT002 will stand out from primary competitors, Xeomin and Dysport, mostly because RT002 targets selective sites to limit spread to other regions and will be the first long acting toxin. We believe that RT002 can attain glabellar line market share of 21% by 2025, if on-going phase III trials is able to reproduce similar results as in the phase II BELMONT study. We estimate about $569 mil in US based revenues for FY 2025 across indications of glabellar lines, plantar fasciitis, and cervical dystonia.
Laser focus on the development of Daxibotulinumtoxin A for Injection (RT002). Management's goal of bringing an improved version of Botox to market continues to remain evident. The program is split across three indications for glabellar lines, cervical dystonia (CD), and plantar fasciitis (PF). Glabellar lines is the largest market of the three indications, and is largely dominated by Botox and dermal fillers such as Restylane and Juvederm Voluma. Within the indication for CD, RT002 is expected to compete directly with Botox and Dysport, and indirectly with oral treatments such as Anticholinergics. Lastly, RT002 is being evaluated for potential treatment of PF, a market for which injectables such a corticosteroids are the first line of treatment. Botox injections are gaining popularity, albeit off label, among podiatrists as studies are showing superiority to traditional intralesional steroid injections. RT-002 could be the first one to gain an FDA approved indication.
Upcoming catalysts. With RT002 being investigated across multiple indications, Revance has a number of potential catalytic events lined up that currently culminate in 4Q17. 1) Interim safety, efficacy, and duration results from the first two cohorts of the phase II trial in CD expected before year end 2016. 2) Top-line phase II readout from CD expected in 2017. 3) Top-line phase II readout from PF expected in 2017. 4) Top-line results from both pivotal phase III trials in glabellar lines expected in 4Q17.
Recent RVNC News
- Form SC 13G - Statement of Beneficial Ownership by Certain Investors • Edgar (US Regulatory) • 09/16/2024 09:01:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/09/2024 08:06:45 PM
- Form SC14D9C - Written communication relating to third party tender offer • Edgar (US Regulatory) • 09/05/2024 09:27:28 PM
- Form SC TO-C - Written communication relating to an issuer or third party • Edgar (US Regulatory) • 09/05/2024 08:45:25 PM
- Form SC TO-C - Written communication relating to an issuer or third party • Edgar (US Regulatory) • 08/13/2024 01:29:06 PM
- Form SC14D9C - Written communication relating to third party tender offer • Edgar (US Regulatory) • 08/12/2024 09:18:26 PM
- Rowley Law PLLC is Investigating Proposed Acquisition of Revance Therapeutics, Inc. • PR Newswire (US) • 08/12/2024 07:18:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 01:20:58 PM
- Crown Laboratories and Revance Announce Entry Into Merger Agreement • PR Newswire (US) • 08/12/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/09/2024 01:00:23 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 08:34:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 08:07:57 PM
- Revance Reports Second Quarter 2024 Financial Results, Provides Corporate Update • Business Wire • 08/08/2024 08:05:00 PM
- Revance to Release Second Quarter 2024 Financial Results on Thursday, August 8, 2024 • Business Wire • 08/01/2024 08:05:00 PM
- Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 06/14/2024 08:05:00 PM
- Revance to Participate in Upcoming Investor Conferences • Business Wire • 05/28/2024 08:05:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:33:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 08:08:10 PM
- Revance Reports First Quarter 2024 Financial Results, Provides Corporate Update • Business Wire • 05/09/2024 08:06:00 PM
- Revance Expands into the U.S. Therapeutics Market with the Launch of DAXXIFY® for the Treatment of Cervical Dystonia • Business Wire • 05/09/2024 08:05:00 PM
- Revance to Release First Quarter 2024 Financial Results on Thursday, May 9, 2024 • Business Wire • 05/02/2024 08:05:00 PM
- Revance to Present New DAXXIFY® Data at the American Academy of Neurology 2024 Annual Meeting • Business Wire • 04/12/2024 12:00:00 PM
- Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 03/27/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:33:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 10:08:05 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM