Biotech Values

[DewDiligence]

RVNC 2Q23 capsule summary:

https://investors.revance.com/news-releases/news-release-details/revance-reports-second-quarter-2023-financial-results-provides

• 2Q23 Daxxify sales were $22.6M, +47% QoQ.

• 2Q23 dermal-filler sales were $31.8M, +5% QoQ and +25% YoY.

• 2Q23 “Other revenue” (OPUL services) was $3.7M.

• 2Q23 GAAP and non-GAAP operating expenses (excluding revenue and COGS) were $123.64M and $83.2M, respectively, consistent with RVNC’s prior full-year 2023 guidance of $460-480M and $320-340M, respectively.

• Cash at 6/30/23 was $319.7M, an increase of $45.8M since 3/31/23 due to selling 3.2M shares under the ATM facility at an average price of $31.25.