Biotech Values

[jbog]

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.

I'll agree that by your metric's the valuation hasn't changed, but what has changed is the impression of Revance's toxin being 'better' than Botox.

It was probably a mistake to go after PF, and it'll be even a bigger mistake to chase it. Very hard to define the patient pool.