Replies to post #251765 on Biotech Values

[WorstLuck]

Kind of down the middle. Step in the right direction.

[DewDiligence]

Correction—RVNC’s 1Q24 non-GAAP operating expenses were $73.6M, consistent with the low end of the 2024 guidance range of $290-310M.

[jbog]

Dew

1Q24 Daxxify sales were $22.1M, -8% QoQ — due to $2.0M of redeemed coupons and normal seasonality in the aesthetics business — and +44% YoY.

I'm sure there has to be some amount of sales attributed to therapeutics. Would you have any guess?

• 1Q24 dermal-filler sales were 29.6M, -14% QoQ and -2% YoY.

Not being familiar with the landscape of fillers, has someone come out with a superior product" If not there must be something wrong with the injectors relationship.

[DewDiligence]

RVNC reports 2Q24 results—reiterates 2024 guidance:

https://investors.revance.com/investors/Press-Releases/news-details/2024/Revance-Reports-Second-Quarter-2024-Financial-Results-Provides-Corporate-Update/default.aspx


2Q24 financial highlights

• 2Q24 product sales (Daxxify + dermal fillers) were $65.3M, +26% YoY and +20% YoY.

• 2Q24 Daxxify sales were $28.7M, +30% QoQ and +27% YoY.

• 2Q24 dermal-filler sales were $36.6M, +24% QoQ and +15% YoY.

• Cash at 6/30/24 was $232.2M, a $44.9M decrease relative to 3/31/24.

• 2Q24 non-GAAP operating expenses (excluding COGS) were $74.8M, consistent with RVNC’s 2024 guidance of $290-310M.


Reiterated 2024 guidance

• Product revenue (Daxxify + dermal fillers) >=$280M; to meet or beat this guidance, combined 3Q24/4Q24 product revenue needs to be >=$163M.

• Non-GAAP operating expenses (excluding COGS) of $290-310M.