Evolus (EOLS)

[DewDiligence]

EOLS receives temporary injunction on enforcement of the ITC’s adverse decision on importation of (Korean made) Jeuveau into the US market:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1570562/000157056221000049/eols-20210215.htm

On February 15, 2021, following a motion by the Company, the U.S. Court of Appeals for the Federal Circuit issued an emergency stay which suspends the execution of the [ITC’s] Remedial Orders.

The Remedial Orders are suspended pending a review by the Federal Circuit of a motion for a stay pending appeal of the ITC’s decision, briefing for which is currently due by March 5, 2021. During the period of the emergency stay, Evolus is permitted to continue importation and sales of Jeuveau subject to the payment of the same bond applicable during the presidential review period.

In other words, the CAFC has not yet ruled on whether it will grant a (non-emergency) stay until the ITC appeal.

EOLS’s share price was initially up sharply on this news, but it closed down 2%.