Revance Therapeutics Inc (RVNC)

[DewDiligence]

Very low interest rates (by historical standards) are part of the reason for the flattish trading, IMO. Low interest rates imply a low “time value” of money used for discounting future profits. Thus, RVNC’s Daxi profits getting pushed further into the future by the FDA delay causes a smaller reduction in RVNC’s NPV than it would with more typical (i.e. higher) interest rates.