Revance Therapeutics Inc (RVNC)

[iwfal]

If RVNC needs to raise 150M at 5 dollars that hurts no doubt. However they do have cash through some trial readouts which would presumably help the share price if positive. Based on that data they could either raise at a higher price or leverage that data to a deal on favorable terms with a partner.

I very much doubt any trial results will appreciably pop the price in any sustainable way:

A) these are fairly low risk trials - and this isn’t news. So minimizes the pop.

B) this is almost certainly about WS understanding that he is so unwilling to give up anything that a massive dilution is very likely and nobody wants to be in before that. It is a kind of self fulfilling prophecy caused by Brownes inability to understand that his time value of money is not the same as a banks. Companies that everyone knows will need cash have to do something to indicate that they are willing to defend price to at least some degree.