It seems ELOS reached outside the box to prevent stockholder dilution by agreeing to the terms of a 5 year note. They have the ability to borrow another $25m on top of the original $75m tranche at a minimum of 9.5% interest rate.
They seem to think their data supports a slight premium to botox. The 30 day endpoint had a numerically higher response rate by about 5% vs botox (both were lower than the RVNC data at a similar time point FWIW). I don't think EOLS has reported data beyond 30 days yet and I didn't see any duration claim in their label
Also RVNC came up in the Q&A which may be of interest to the board:
Note that in hte pre-BLA minutes for evolus they asked if they can get a duration claim based on when statistically significant differences from placebo last and were shot down because the FDA (appropriately) said that you cannot claim duration at late time points when you have very few responders left even if it is greater than placebo i.e. if 5% are responders vs 0% placebo it is not clinically meaningful To claim duration you have to determine the threshold of responders a prior per those minutes. The FDA label for botox states duration up to 120 days and at that 120 day endpoint the responder rate was in the 20% and change rate for botox so that seems to be a minimum response rate to claim a duration probably.