MILWAUKEE, Aug. 15, 2024 /PRNewswire/ -- Ademi LLP is investigating Revance (NASDAQ: RVNC) for possible breaches of fiduciary duty and other violations of law in its transaction with Crown. Click here to learn how to join our investigation https://www.ademilaw.com/case/revance-therapeutics-inc-0 or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. Revance stockholders will receive only $6.66 per share in cash, representing a total enterprise value of $924 million. The transac ...

Shares of Revance Therapeutics, Inc. (RVNC) have gained 73.2% over the past four weeks to close the last trading session at $6.60, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $13.11 indicates a potential upside of 98.6%. The mean estimate comprises nine short-term price targets with a standard deviation of $6.60. While the lowest estimate of $8 indicates a 21.2% increase fro ...

NEW YORK, Aug. 12, 2024 /PRNewswire/ -- Rowley Law PLLC is investigating potential securities law violations by Revance Therapeutics, Inc. (NASDAQ: RVNC) and its board of directors concerning the proposed acquisition of the company by Crown Laboratories, Inc. Stockholders will receive $6.66 for each share of Revance Therapeutics stock that they hold. The transaction is valued at approximately $924 million and is expected to close by the end of 2024. If you are a stockholder of Revance Therapeutics, Inc. and ...

Revance Therapeutics (NASDAQ:RVNC) stock is on the rise Monday after the biotechnology company announced a merger agreement with private skincare company Crown Laboratories. This agreement has Crown Laboratories agreeing to acquire Revance Therapeutics for $924 million. The deal is set to close by the end of 2024 and will remove RVNC stock from public trading. Crown Laboratories will acquire Revance Therapeutics by buying all outstanding shares of RVNC stock. It will pay $6.66 per share in cash for the stoc ...

Crown Laboratories, Inc., a privately held player in the skincare industry, agreed on Monday to acquire Revance Therapeutics, Inc. RVNC. Under the terms of the agreement, Crown will commence a tender offer to acquire all outstanding shares of Revance's common stock for $6.66 per share in cash, representing a total enterprise value of $924 million. The purchase price represents a premium of 89% over Revance's closing market price on Aug. 9, 2024, and a 111% premium to Revance's 60-day volume-weighted average ...

MONSEY, N.Y., Aug. 12, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Revance Therapeutics, Inc. (Nasdaq: RVNC) ("Revance") to Crown Laboratories, Inc. ("Crown") for $6.66 per share in cash in a tender offer. The sales price is substantially below the price target for Revance of multiple Wall Street analysts, including Stacy Ku of TD Cowen with a price target of $25.00 per share, and Annabel Samimy of Stifel Nicolaus with a price target of ...

Financial Data and Key Metrics Changes - Total net revenue for Q2 2024 was $65.4 million, up 20% from $54.4 million in Q2 2023, driven by increased volumes of DAXXIFY and RHA Collection despite a softer market [12][13] - DAXXIFY revenue was $28.7 million, a 27% increase year-over-year, while RHA Collection revenue was $36.6 million, representing a 15% year-over-year increase [12][4] - Total net revenue for the first half of 2024 was $117.3 million, compared to $100.2 million for the same period in 2023 [13] Business Line Data and Key Metrics Changes - Aesthetics division led growth, with DAXXIFY units sold up 65% year-over-year [3][4] - RHA Collection experienced healthy growth despite overall filler market softness, with the launch of RHA3 for lip augmentation contributing to a 15% increase in revenue [5][6] - Over 7,500 accounts across Revance's aesthetics portfolio, with more than 3,700 accounts ordering DAXXIFY, indicating significant potential for further expansion [6][10] Market Data and Key Metrics Changes - DAXXIFY for cervical dystonia launched in May 2024, entering a $2.7 billion US therapeutic neurotoxin market [7][8] - Access to DAXXIFY has increased, covering over 240 million lives, with 84% commercial coverage and inclusion in the national formulary for the Department of Veteran Affairs and Department of Defense [10][11] - Initial revenues from DAXXIFY in the therapeutic market are expected to be modest due to conservative treatment practices [11] Company Strategy and Development Direction - The company aims to deliver at least $280 million in total net product revenue for 2024 while managing expenses to achieve positive adjusted EBITDA in 2025 [15][12] - Focus on execution and growth in both DAXXIFY and RHA Collection, with plans to deepen penetration in existing accounts and expand the account base [15][6] - The company is evaluating international opportunities and partnerships to enhance growth outside the US [20][21] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory of DAXXIFY and RHA Collection, with expectations for sequential growth in the second half of 2024 [15][17] - The therapeutic market for DAXXIFY is anticipated to grow, but initial contributions will be modest due to conservative physician practices [11][18] - Management highlighted the importance of clinical results and patient outcomes in driving adoption and revenue growth [9][10] Other Important Information - The company expects GAAP operating expenses for 2024 to be between $430 million to $460 million, down from previous estimates [13][14] - Current cash position is $232.2 million, providing multiple levers to achieve financial goals [14] Q&A Session Summary Question: How does the company see advancing towards the $280 million guidance number? - Management indicated that approximately 40% of the revenue target has been achieved in the first half, with expectations to deliver the remaining 60% in the second half, particularly in Q4 [17][18] Question: What is the impact of additional coverage from the VA on therapeutic opportunities? - Management expects modest revenue contributions from therapeutic applications in 2024, despite increased coverage, due to conservative treatment practices [18] Question: How does the company view the competitive landscape for fillers? - Management believes that product profile and performance will differentiate their offerings in a crowded market, emphasizing the natural look of RHA products [46] Question: What are the plans for DAXXIFY in international markets? - The company is exploring partnerships and opportunities outside the US, with a focus on pragmatic business decisions [20] Question: What is the current status of DAXXIFY pricing and marketing strategy? - Management confirmed that the pricing strategy has been effective, with no lingering effects from previous coupon programs [52][70]

Revance Therapeutics, Inc. (RVNC) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.48. This compares to loss of $0.80 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this company would post a loss of $0.66 per share when it actually produced a loss of $0.54, delivering a surprise of 18.18%. Over the last four quarters, the company ha ...

A downtrend has been apparent in Revance Therapeutics, Inc. (RVNC) lately with too much selling pressure. The stock has declined 18.9% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround. Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical in ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $51.9 million, a 13% increase from $45.8 million in the same period last year, primarily driven by DAXXIFY [120] - DAXXIFY net revenue was $22.1 million after a $2 million reduction related to a consumer coupon program [23] - Non-GAAP operating expenses from continuing operations for Q1 2024 were $73.6 million, up from $64.5 million in Q1 2023 [121] Business Line Data and Key Metrics Changes - DAXXIFY aesthetic units sold increased by 105% year-over-year and 7% quarter-over-quarter, with market share growing from 3% to 3.7% [5] - RHA revenue declined by 2% year-over-year, but market share increased from 9.1% to 9.8% [7] - The RHA Collection generated $29.6 million in revenue for Q1 2024 [136] Market Data and Key Metrics Changes - The US therapeutic neurotoxin market is projected to grow at 8% annually over the next five years, with Revance entering this market with DAXXIFY for cervical dystonia [26] - The filler market showed softness in Q1, but is expected to return to historic high-single-digit growth through the remainder of 2024 [15] Company Strategy and Development Direction - The company is focusing on expanding its market share in both the aesthetics and therapeutic segments, with a balanced portfolio approach [14][15] - A new DAXXIFY messaging campaign was launched to enhance market presence and promote its benefits [24] - The company aims to achieve positive adjusted EBITDA by 2025, with a guidance of at least $280 million in net product revenue for 2024 [118][139] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing traction and momentum in the DAXXIFY strategy change, indicating a positive trajectory for Q2 [28] - The management noted that while aesthetics will carry a significant portion of revenue, therapeutics are expected to be incremental in 2024 [36] - Feedback from clinicians has been positive, with a focus on improving patient outcomes and symptom control [46][95] Other Important Information - The company has over $275 million in cash and equivalents, providing a strong financial position to support growth initiatives [118] - The PrevU program for cervical dystonia has shown promising results, with 94% of participating physicians perceiving DAXXIFY to last longer than conventional treatments [115] Q&A Session Summary Question: How does the company view the therapeutic contribution in 2024? - Management expects aesthetics to dominate revenue, with therapeutics being incremental, but is encouraged by early engagement in the therapeutics business [34][36] Question: What are the expectations for sales acceleration in Q2? - Management anticipates benefiting from broader account engagement and expects a return to normal growth patterns in the aesthetic market [39][41] Question: How does the company plan to address market share and pricing dynamics? - The company is focused on maintaining competitive pricing while emphasizing the quality and performance of its products to differentiate from competitors [80][82]