Replies to post #217664 on Biotech Values

[DewDiligence]

RVNC’s fully-diluted* share count at 12/31/17=40.4M. This figure consists of: 36.5M basic shares on the 12/31/17 balance sheet (https://www.sec.gov/Archives/edgar/data/1479290/000147929018000038/rvnc1231201710k.htm#s4BDE5FBFF06F5892BCA0699CB0E34186 ); and 3.9M options, warrants, and non-vested restricted stock (ibid, page F-13).

*Non-treasury method.

[DewDiligence]

RVNC’s pro forma cash at 3/31/18=$253.1M, a decrease of $36.2M since 12/31/17 (#msg-139013481).

The $253.1M figure consists of: $273.8M of current assets on the 3/31/18 balance sheet (https://www.sec.gov/Archives/edgar/data/1479290/000147929018000067/rvncq11810q.htm#s8614E55FD510A3018FE96E3D15AB0DEC ); less $20.7M of current and non-current liabilities on the 3/31/18 balance sheet—excluding the “deferred revenue” lines and the “Medicis derivative” line, which are accounting artifacts rather than bona fide liabilities.