Revance Therapeutics Inc (RVNC)

[iwfal]

I agree w DD that it is a net positive, but share your concern on pricing because RVNC right now will be selling their drug at quite a discounted price in therapeutics relative to the value proposition.

Even Revance, in their charts from repricing, show it bringing in only 40% of what Botox brings in per CD patient once you take into account both vial cost and less frequent dosing. So even if they switch over very rapidly - say 50% by end of year 2025 - that means bringing in about $70M per year for US CD.

As for spasticity, its going to take a *lot* longer to get market share there since the ph2 hasn't really been well published (just a brief abstract - no protocol included). And it's likely the protocol needs tweeking.

They may get to cash flow neutral by 2025, but beyond that they have a lot of work to do?