Replies to post #225138 on Biotech Values

[DewDiligence]

RVNC’s enterprise value is about $300M at the current share price ($10.77), based on 49.2M fully-diluted shares (#msg-149161113) and pro forma cash of $230.6M (#msg-149160985).

[DewDiligence]

RVNC’s fully-diluted* share count @6/30/19=49.4M—a slight increase from the 49.2M count @3/31/19 (#msg-149161113) due to option grants.

The 49.4M figure @6/30/19 consists of: 44.1M basic shares on the 6/30/19 balance sheet (https://www.sec.gov/ix?doc=/Archives/edgar/data/1479290/000147929019000093/rvncq21910q.htm ); and 5.3M options, warrants, and non-vested restricted stock (ibid, page 16).

*Non-treasury method.