Highly suspicious and they deferred to past studies rather than addressing their own fresh data.
But we don't care about old trials, we care about this specific head to head with the exact same PIs and the exact same scales and the exact same raters. I would be willing to wager that one or both of the 20U Botox and 20U Jeuveau arms went to almost 22 weeks and that would take the wind out of their sails for their 40U Jeuveau arm. To leave it out, and make some excuse why they left it out, when they clearly have that data, and also make it known that that data will not be released until after June screams to me the following:
1) We are running out of money in 4 quarters and will need to access our high interest credit facility before year end.
2) We need help with a secondary offering and need to position Jeuveau as almost equal to Daxxify duration so that the secondary can be done in the least dilutive way.
3) We need to counter what is about ready to happen as Daxxify goes full commercial launch over the next 6 to 12 months
4) Our reps need to be able to say that we got to 26 weeks of duration in a study on a very low bar scale, to counter Daxxify's 24 week median duration for none/mild (a much higher bar for efficacy) so that we don't lose patients and HCPs to Daxxify.
Did it seem like analyst questions were T-ball pitches so as not to harm their chances to possibly win their banking biz?
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