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DewDiligence

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DewDiligence

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Re: ronpopeil post# 216404

Monday, 01/08/2018 10:33:13 AM

Monday, January 08, 2018 10:33:13 AM

Post# of 252715
Re: RVNC program in plantar fasciitis

https://finance.yahoo.com/news/revance-announces-interim-phase-2a-130000480.html

Aside from the p-value miss, the phase-2a trial in PF was unsuccessful according to my own definition in #msg-137260538:

… I will consider the trial a success if RVNC assures investors that the PF program will advance to phase-2b.

Today’s PR states that RVNC will conduct another phase-2a before attempting to advance to phase-2b.

In any event, the PF indication is not (and never was) a material part of the valuation thesis for RVNC outlined in #msg-136931624, which remains unchanged.

As I’m typing, RVNC’s pro forma enterprise value is ~$1.0B (based on #msg-136930804 and #msg-136931339)—about 6% less than when #msg-136931624 was written in mid December.

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

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