Replies to post #196713 on Biotech Values

[DewDiligence]

RVNC’s CMO is leaving the company:

http://www.sec.gov/Archives/edgar/data/1479290/000119312515361237/d44564d8k.htm

On October 31, 2015, we entered into a separation agreement with Arthur P. Bertolino, M.D., Ph.D., our Chief Medical Officer and Executive Vice President, pursuant to which he resigned his employment with the Company, effective as of December 31, 2015, to pursue opportunities outside of the Company.

Curious.

[DewDiligence]

RVNC sells 3.74M* shares @$36.00—an 8% discount to last Friday’s closing price:

http://finance.yahoo.com/news/revance-therapeutics-announces-pricing-public-052031592.html

The offering will raise $126M* in net proceeds, giving RVNC about $276M in cash less whatever has been burned since 6/30/15 (#msg-116071195).

RVNC did well to raise $126M at an 8% discount (IMO) given the questions about the BELMONT dataset (#msg-118159012); the phase-3 development plan, and the relatively high valuation (#msg-118173728).

*Assuming exercise of underwriter’s option.