Revance Therapeutics Inc (RVNC)

[soma2022]

This was a tough decision that diluted shareholders out 18% of all future gains. I was not happy about it. Short term Athyrium debt levels are manageable now and I am certain 3rd Tranche interest rate would have been too high for ST capital and similar to Evolus' interest rate of 14%. I would have passed on it if I was CEO and felt confident in reaching cash flow break even by 2025. They should finish Q1 with $310M cash.

Can Revance demonstrate meaningful revenue growth quarter over quarter and in year/year comps that will give institutional investors a strong reason to enter the stock and push valuations higher?

What will it take to get institutional investors back in?

Compounded Daxxify quarterly revenue growth of 15 to 20% next 4 quarters. I expect Q1 to show the usual seasonality with a pickup in Q2. If Q1 Daxxify sales come in at or above the $24M they did in Q4 2023, I feel it will be viewed as bullish.