Revance Therapeutics Makes Waves in Biopharmaceutical Industry with Neuromodulator Development and Increased Investment
Elaine Mendonça by Elaine Mendonça June 28, 2023 in News Reading Time
Revance Therapeutics, Inc. (NASDAQ:RVNC), a biopharmaceutical company, is making waves in the industry with its development of neuromodulators for various therapeutic and aesthetic indications. Its drug candidate, DaxibotulinumtoxinA for injection, has completed phase III clinical trials for the treatment of glabellar lines and cervical dystonia and is currently undergoing phase II clinical trials to treat upper facial lines and dynamic forehead and lateral canthal lines. Recently, Allspring Global Investments Holdings LLC increased its stake in Revance Therapeutics by 40.4% during the first quarter of this year. The firm now owns 1,537,250 shares or 1.83% worth $49,515,000 as of their latest filing with the Securities and Exchange Commission (SEC).
In related news, several insiders have sold a total of 160,745 shares with a value of $5,371,961 within the last ninety days. SVP Dwight Moxie sold 21,401 shares at an average price of $34.55 on May 15th while CEO Mark J. Foley sold 70,447 shares at the same price on the same day.
Revance Therapeutics aims to provide new treatments that offer patients improved efficacy over existing options that are well-tolerated and safe to use. With positive results from its clinical trials thus far combined with increased investment from major players in the industry such as Allspring Global Investments Holdings LLC interested in having a larger stake in their success story – it’s clear that Revance Therapeutics is heading towards bigger things and could be poised for long-term growth.
