Biotech Values

[DewDiligence]

Re: RVNC /sell-side comments on duration

The sell-side comments you posted from analysts who are defending AGN are variants on the word games re the definition of duration—please see #msg-136664157.

The analysts are correct in saying that it remains to be seen what language regarding duration ends up in RT002’s FDA label; however, regardless of what is in the label, it’s clear to me that RVNC definition of duration based on a 1-point change has more practical consequence in the commercial marketplace than AGN’s definition based on a 2-point change.

I’ve spoken to experienced Botox injectors who treat a lot of patients for glabellar lines, and they’ve not had patients who return for retreatment as soon as they no longer have a 2-point improvement from baseline. Such (hypothetical) patients would have to be retreated every 6-8 weeks, which is not practical from a financial or an aesthetic standpoint.