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Jun 30, 2020
Revance Q2 2020 Earnings Report
Reported financial results for the quarter ended June 30, 2020 and provided a corporate update.
Key Takeaways
Revance reported revenue of $0.3 million for Q2 2020. The company is focused on the commercial launch of RHA® Collection of Dermal Fillers and the HintMD fintech platform, and anticipates potential U.S. regulatory approval of DaxibotulinumtoxinA for Injection in glabellar lines in November.
Commercial launch of RHA® Collection of Dermal Fillers is on-track for the third quarter.
Completed the acquisition of HintMD, a proprietary fintech platform for aesthetic practices.
Announced positive results in two Phase 2a studies of DaxibotulinumtoxinA for Injection for the treatment of Forehead Lines and Crow’s Feet, respectively.
DaxibotulinumtoxinA for Injection potential November approval in glabellar lines.
Forward Guidance
Revance expects non-GAAP operating expense to be in the range of $220 to $230 million. Revance anticipates 2020 non-GAAP, non-HintMD related research and development expense to be $95 to $100 million. Management projects that the company is funded into 2023.
Positive Outlook
- Commercial launch of HintMD and RHA® Collection of dermal fillers expected in September 2020.
- Topline results from Phase 2 open-label, dose-escalation study of DaxibotulinumtoxinA for Injection in upper facial lines expected in 4Q 2020.
- Prescription Drug User Fee Act (PDUFA) date of November 25, 2020, for potential U.S. Food and Drug Administration (FDA) approval of DaxibotulinumtoxinA for Injection in glabellar lines.
- Topline results from ASPEN-1 Phase 3 placebo-controlled, parallel-group study of DaxibotulinumtoxinA for Injection in cervical dystonia expected in fall 2020.
- Topline results from Phase 2 placebo-controlled study of DaxibotulinumtoxinA for Injection in plantar fasciitis expected in fall 2020.
Challenges Ahead
- Topline results from JUNIPER Phase 2 placebo-controlled, dose-ranging study of DaxibotulinumtoxinA for Injection in upper limb spasticity expected in early 2021.
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