Replies to post #840 on Revance Therapeutics Inc (RVNC)

[iwfal]

RVNC has a head start of probably 6-7 years relative to AGN and Ipsen, who have long-acting toxins (based on different technology) in preclinical development. It seems to me that if RVNC were to defer running clinical trials in such therapeutic indications as CD, they would be surrendering a material slice of the valuation pie

I agree completely that the ‘go for it all’ likely increases the overall eventual valuation. And probably maximizes Browne’s value. But the question is whether it maximizes current public shareholder value. And that potential disconnect (between Browne and the current public shareholders) is my point.

If I thought he would/could raise meaningful money in partnerships, this would be a lot less of an issue. But so far the deals seem fairly small.

Random obscure note: I would suggest that part of the current price decline (which is actually pretty impressive) is based on the stock market diagnosing exactly this problem. I.e. it has a little bit of self fulfilling prophecy about it.

[jmkobers]

<<pursuing therapeutic indications, such as CD, before obtaining regulatory approval for the first aesthetic indication may well be the plan that maximizes shareholder value. I’m surprised that you and ‘jmk’ seem confident that RVNC is making a mistake. >>

Don't be obtuse Dew. I'm not saying do nothing, I am saying slow the burn and be strategic about what you fund non-cosmetically prior to becoming profitable. Very few have a 5+ year timeline to make money.

I was not happy at all with Browne's last conference call. He said he felt "really good" about the decision to delay filing based on the 100 unit. Great Dan but we are getting hammered and the rest of us feel not so "good". In this last year we have gone from 30's to 12.

It just shows a complete lack of understanding/care for your current supporters/shareholders. Dan admitted the filing timeline in 1H19 was "aggressive". Why be "aggressive" now when there is so much more to do? Your credibility is crucial at this stage.

Could very well be RT002 is a great drug but there is mounting evidence the guy running the show is unfit for the challenge