Replies to post #1786 on Revance Therapeutics Inc (RVNC)

[marthambles]

FWIW (and it may be very little), on Feb. 2 I posted the following on Twitter in response to Biomaven's speculation that its reasonably likely that the FDA had been hacked and it might be profitable to look out for any unusual share price activity:

"I will throw $RVNC into the ring as a possible hack. The shares were rising steadily in anticipation of Daxi approval and then suddenly, in mid and late Sept. it cratered over 30%. On November 25, a delay in the FDA facility inspection was announced.

Today, $RVNC is up over 6% and someone bought 500 April 35 calls. If the inspection takes place around this time, it would be logical that an approval might come before the April call expiration. Just speculation of course, but certainly consistent with Peter's premise".

500 is a lot of calls. I didn't see any evidence that it was part of a paired trade.

[DewDiligence]

RVNC 10-K_filed_this_evening_implies_that_ FDA_inspection_has_not_yet_occurred; from page 95:

https://www.sec.gov/ix?doc=/Archives/edgar/data/1479290/000147929021000057/rvnc-20201231.htm

We expect that our manufacturing and quality expenses will continue to increase to prepare for an FDA site inspection and the potential launch of DaxibotulinumtoxinA for Injection if approved.

h/t @bio_clouseau.

So, the word, “pending” in RVNC’s 2/22/21 PR means exactly that.