Biotech Values

[DewDiligence]

RVNC’s pro forma cash at 6/30/18=$220.5M, a decrease of $32.6M since 3/31/18 (#msg-140670173). The 2Q18 pro forma cash burn of $32.6M was slightly less than the 1Q18 pro forma cash burn of $36.2M (#msg-140670173).

The $220.5M figure (above) consists of: $242.9M of current assets on the 6/30/18 balance sheet (https://www.sec.gov/Archives/edgar/data/1479290/000147929018000101/rvncq21810q.htm#sE622EAFEA15C5262932BF78D63BD49A9 ); less $22.4M of current and non-current liabilities on the 6/30/18 balance sheet—excluding the “deferred revenue” lines and the “Medicis derivative” line, which are accounting artifacts rather than bona fide liabilities.