Replies to post #200011 on Biotech Values

[DewDiligence]

RVNC expects to initiate a Phase 3 clinical program in the second half of 2016.

Not new news—please see the third bullet item in #msg-119680501.

[DewDiligence]

Re: RVNC liquidity (from same PR)

• The cash balance at 12/31/15 was $254.1M (consistent with the January guidance of >$250M in #msg-119680501).

• 2016 cash-burn guidance (issued for the first time today) is $105-115M; in other words, RVNC has more than two years worth of cash on hand.

• Raising $126M at $36/sh in Nov 2015 (#msg-118228123) was a smart move.