While I was disappointed with the price of the recent secondary, I think that Revance (after Sakura 3 results) is a more valuable company today than it was one year ago when it was trading in the mid-30s. If Revance comes anywhere near the $1 billion in sales that they project in 2023-2026 per their most recent presentation, https://investors.revance.com/static-files/fa582118-0191-44ae-b904-bb3d91e0fc1c, slide 12, then I think dilution even at much discounted price is preferable to giving away large share of sales for a partnership.
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