The info I am getting from my East Coast KOLs is similar to Boraborak's. They tried it on more than half their toxin patients, and about half of those stayed on it, so about 30% of their toxin use is Daxxify. Their schedules are full so they get few new patients, so in terms of within-practice growth there was not much change in Daxxxify units Q4 to Q1, which amounts to small growth as most other toxins were a bit down Q-over-Q. Growth could have come from new physicians in their practices adopting, and they haven't seen that. They don't have a good explanation for that, other than the launch was a failure, and these doctors are too busy to give it another look until they get new information from sources they trust.
I am puzzled at the current share price. Assuming there is not some Valeant-type mess about to be unveiled, it could reflect that analysts and short sellers get negative info from the channel. Also there is a lot of turnover, as stated in many messages. That said, these doctors like their new reps that they've had since January more than the old ones. I made 3 very substantial purchases at 3.30/3.31 on Thursday, and given that they executed within minutes and without much price movement, there must be a lot of non-retail investors willing to sell or short at these prices. FWIW, I have not seen any of my shares being lent to shorts, which is unlike what happened with Valeant (which I bought after it already was 90% down from its highs).
