Revance Therapeutics Inc News - RVNC

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Revance to Release Second Quarter 2024 Financial Results on Thursday, August 8, 2024

Conference Call Scheduled for Thursday, August 8, 2024 at 4:30 p.m. ET. Revance Therapeutics, Inc. (NASDAQ: RVNC) today announced that the...

Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Revance Therapeutics, Inc. (Nasdaq: RVNC) today announced new hire grants totaling an aggregate of 104,800 inducement restricted stock units...

Revance to Participate in Upcoming Investor Conferences

Revance Therapeutics, Inc. (NASDAQ: RVNC) today announced that the company will be participating in the following investor conferences. William...

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Form 8-K - Current report

Revance Reports First Quarter 2024 Financial Results, Provides Corporate Update

- Total net product revenue (DAXXIFY® and RHA® Collection) of $51.7 million, a YoY increase of 13%. - DAXXIFY® net revenue of $22.1 million...

Revance Expands into the U.S. Therapeutics Market with the Launch of DAXXIFY® for the Treatment of Cervical Dystonia

DAXXIFY® for the treatment of cervical dystonia is the first and only peptide-formulated, long-lasting neurotoxin that offers the potential to...

Revance to Release First Quarter 2024 Financial Results on Thursday, May 9, 2024

Conference Call Scheduled for Thursday, May 9, 2024 at 4:30 p.m. ET. Revance Therapeutics, Inc. (NASDAQ: RVNC), today announced that the company...

Revance to Present New DAXXIFY® Data at the American Academy of Neurology 2024 Annual Meeting

– Two presentations highlighting data on DAXXIFY® for the treatment of cervical dystonia, including a new analysis from ASPEN trials assessing...

Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Revance Therapeutics, Inc. (NASDAQ: RVNC) today announced new hire grants totaling an aggregate of 222,452 inducement restricted stock units...

Form 4 - Statement of changes in beneficial ownership of securities

Form 8-K - Current report

Form 424B5 - Prospectus [Rule 424(b)(5)]

Form 4 - Statement of changes in beneficial ownership of securities

RandomEvent1 8 hours ago

They don’t have their own RHA product to sell. So I imagine this is a benefit to the Teoxane distribution agreement

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Mufaso 8 hours ago

RVNC just hired a new Director of Marketing for RHA

This is not a big deal and really doesn't say much about whether the deal goes through or not.

It is just signaling that RVNC would like to keep acting as Teoaxane's distributor and addressing some of their complaints.

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RandomEvent1 13 hours ago

Doesn’t this help meet their obligations in their operating agreement with Teoxane? I would say that’s good news for the deal

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Mufaso 1 day ago

They hired someone to "remedy" the complaint Teoxane made about not marketing RHA properly per the agreement.

This gives Crown/RVNC legal leverage against Teoxane to retain the line should Teoxane follow with their threats to pull the line.

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soma2022 1 day ago

your numbers are off significantly. RHA sales in US alone were $150M last year and my guess is that Teoxane gets 35% of that or $50M from US sales alone, then add European sales where Teoxane has even greater marketshare. My guess would be $150M a year in sales.

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MeteoricChimera43 1 day ago

Either way, even if it is $20,000,000 that’s gross sales not NOI. I do real estate deals well over that every year. They are not a $10 billion dollar in equity company like Crown is. Teoxane is not going to be the decider in this merger, just a nuisance

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IanFromSI 1 day ago

I suspect that Teoxane has numerous partnerships to sell its products spread around the globe. …. And it does not issue it consolidated report.

Owler reports its revenue as somewhere between five million and twenty five million dollars .

Given that it is a private company, there is probably no way to get an accurate estimate for anything.

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Emannow 1 day ago

The number of $9.2 is probably from 2003.

If you multiple 372 employees by a small salary of $50,000...that is over $18 million just in payroll. We all know payroll is a portion of a companies total expenses. Their total payroll is probably closer to $30 or 40 million.

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IanFromSI 1 day ago

Near the time of the press release, announcing the crown labs take over of RVNC, I saw the quote attributed to the company that The reason for the sale was that the company no longer could see any way to sell daxxiify and make a profit.

I incorrectly stated that that was in the press release. I Can’t find the PR or article or call transcript which has that statement.

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IanFromSI 1 day ago

According to datanyze.com, the annual revenue is about $9.2M.

Teoxane Profile and History

TEOXANE Laboratories, a private company, was established in Geneva in 2003, by Madame Valérie Taupin and specializes in the design and manufacturing of hyaluronic acid-based dermal fillers and cosmeceuticals.

As a result of this uncompromising commitment to innovation, quality and patient satisfaction, TEOXANE Laboratories is now among the top hyaluronic acid-based dermal filler manufacturers in t ...Read More

Revenue
$9.2 M

Employees
372

Founded
2003

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mouton29 1 day ago

So their 2023 revenue is $7.6 million even though Revance sold $130 million of their product in 2023? Sounds like a great deal for Revance, no wonder Teoxane is apparently trying to weasel out or change it.

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Emannow 1 day ago

Not sure who you are or what your purpose is???

I do know your information is 100% false and incorrect!

I know may people at Teoxane and you are totally incorrect!

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MeteoricChimera43 1 day ago

Not true

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Emannow 1 day ago

Teoxane’s total revenue is significantly over 7 million a year. They did over 5 million dollars in Skin Care sales in 2023 in the USA. Their total sales are above $200 million a year.

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MeteoricChimera43 1 day ago

Teoxane couldn’t raise $960 million if their life depended on it. Their total revenue last year was $7.6 million. Valerie isn’t a real player

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MeteoricChimera43 1 day ago

I meant commencement of buyout. Excuse me.

Also, Teoxane and Valorie. who’s holding up the sale over their filler contract, is not a big player at all. Their privately owned company by one woman and their total sales are only $7.6 million a year and that’s across their extensive lineup of cosmetics They’re way out classed in this deal with Crown having over $10 billion in assets. They’re a small bump in the road, not a deal killer with Crown getting DAXXIFY at the cost to create it.

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DewDiligence 1 day ago

The deal will close by the deadline this Friday, October 4.That’s not possible—the deal cannot close until the formal expiration of the tender offer, which has not even commenced yet.

Assuming the tender offer does commence at some point, it must remain open for at least 20 business days. Prior to the formal expiration of the tender offer, investors who tender their shares can retract their tender and get their shares back.

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PioneerUniverse8 1 day ago

how 'bout this.... teoxane sued in order to get some time, which it is using to get a team of funds (itself included) for a competing offer.... I know , I know, but let me dream :)

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MeteoricChimera43 1 day ago

DAXXIFY still needs to be marketed and Crown likely signed off. It’s a non-event. Again, Revance paid over $900 million just to create Dax and Crown is purchasing at a huge discount, so who cares if worse case scenario, they lose the filler component, which they don’t even own. The deal will close by the deadline this Friday, October 4.

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Emannow 1 day ago

..RVNC just hired a new Director of Marketing for RHA . Why would someone be hired at this point?

IMHO the purchase by Crown is not going to happen!

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MeteoricChimera43 1 day ago

Revance is being brought private, so “if” they were to be offered shares in the new entity, they would likely be non-voting shares anyway.

They all want this deal to close Revance paid over $900 million for R&D and costs, just to bring Dax to market. So why in the world would Crown not close on this bargain of a buy, even without Teoxane’s filler. Not a deal killer issue. They’re going to work it out. Friday is the day.

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mouton29 1 day ago

Moreover, a few people suggested that Crown issue shares of the surviving entity to Teoxane. … would Crown really want a shareholder like Teoxane who has shown their true colors?

That’s a fair question that only Crown can answer. And if the answer is no, would Crown really want a key supplier/licensor who has shown their true colors, given that a supplier and licensor can probably cause more mischief than a minority shareholder with no special control rights.

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Fred Kadiddlehopper 1 day ago

Do you have any thoughts on why Foley chose the merger route at this lowball figure?

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777guy 2 days ago

I get that Teoxane is trying to play their hand, but don't they want to get rid of Foley as much as the next investor? I'm assuming he will be gone if the Crown deal is successful.

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MeteoricChimera43 2 days ago

Yes that’s why we’re in the medical cosmetics space of vanity. People will stop eating out, before getting rid of their wrinkles lol. We’re taking nice chunks of market share away from Botox while the entire industry continues to grow at a very rapid rate.

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IanFromSI 2 days ago

https://www.macroaxis.com/invest/ratio/RVNC/Probability-Of-Bankruptcy

It improved slightly since the Crown Labs deal was announced.

Revance's odds of distress is over 65% at the present time. It has high probability to experience some financial crunch in the next few years. Probability of distress shows the probability of financial torment over the next two years of operations under current economic and market conditions.

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DewDiligence 2 days ago

Where is the explicit statement about no future profitability absent the deal?There was never any such public statement. 'IanFromSI' is simply spreading disinformation again.

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alertmeipp 2 days ago

If you truly believe the deal would close or if not, only upside from here, are you adding here?

I think if the deal does not get closed, there would be some downside in short to mid term

I picked up some shares tho

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MeteoricChimera43 2 days ago

Couldn’t have said it better myself. The guys a short looking to get out of his position or just another idiot day trading hundreds of dollars. I have 154,000 shares and sleep very well at night. This merger will close and if not, lots of upside still to come.

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vinmantoo 2 days ago

They have about $250 million in cash and almost $630 million in debt.

What matters is when the debt is due, how much it would cost to get additional loans or to refinance, how soon the break even point and profitability can be reached. It is likely academic anyway as the Crown deal is likely close to being done. The balance sheet for RVNC as of 6/30/24 lists liabilities of $624 million and total assets of $494 million. It shows working capital at $256 million and invested capital of $300 million. The loss in the last quarter was $37 million and by EBITDA at $30 million.

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mouton29 2 days ago

the press release issued by the company when the deal was announced ... Explicitly stated that it was going down this path because it could not see any way to sell Dax at a profit.

This is the only press release issued when the deal was announced.

https://investors.revance.com/investors/Press-Releases/news-details/2024/Crown-Laboratories-and-Revance-Announce-Entry-Into-Merger-Agreement/default.aspx

And this is what Foley said:

Mark J. Foley, President and Chief Executive Officer of Revance said, "Over the past several years, Revance has brought to the market innovative aesthetic and therapeutic offerings that have elevated patient and physician experiences. We are excited about this transaction and to be joining forces with Crown Laboratories, which will enable us to broaden our provider network as well as provide us with an expanded portfolio of products. We also believe that the merger provides substantial value for our stockholders. Crown shares our commitment to innovation and scale and will help us accelerate our growth. Scale and product breadth are important factors in the markets in which we compete and, by combining with Crown, we will be able to offer our customers a more compelling range of products and services while, at the same time, benefiting from the combined strength of our collective commercial organizations."

Where is the explicit statement about no future profitability absent the deal?

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vinmantoo 2 days ago

You should at least read the press release issued by the company when the deal was announced.

It Explicitly stated that it was going down this path because it could not see any way to sell Dax at a profit.

I did read it. A press release was Foley's justification for making the deal. It isn't an SEC document with legal penalties attached if you mislead. Foley was also talking about reaching profitability in 2025. Pretty stupid to take his word as being as good as gold.

Prior to that PR, there was an 80% probability that the company would go bankrupt. Conditions have not improved

Did you go to Vegas to get those odds or did you just invent it to justify your comment. If RVNC was destined for bankruptcy very soon, then why wouldn't Crown or anyone else wait until bankruptcy and scoop up the company for far less than Crown is paying now?

People like you deserve what you get.
You and Van seem to think you know it all.

Who is Van? You seem to be describing yourself with that comment.

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anesthesia doc 2 days ago

They have about $250 million in cash and almost $630 million in debt.

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MeteoricChimera43 2 days ago

Actually closer to $500,000,000, but I’m being conservative

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iwfal 2 days ago

Rule 14d-10 sometimes called the "all holders best price rule" requires an acquirer to offer the same consideration to everyone: https://www.law.cornell.edu/cfr/text/17/240.14d-10 The only exception is for certain employment agreements (think severance or non-compete payments).

I dont think anyone has suggested that Teoxane would get a different price for their stock than everyone else. But, to illustrate, a scenario like: Teoxane wants to have ownership in Daxxi potential and threatens to walk with their product if they don’t get adequate ownership… is probably legal as long as everyone else gets the same share price (altho parties probably would have to be careful about equating very different instruments). Of course this says nothing about the probability of such an event, especially in the context of other options that might allow Teoxane to get the same ownership, but with less cost to acquiring company.

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MeteoricChimera43 2 days ago

Revance has $300,000,000 in the bank and line of credit that they haven’t used. Market share continues to increase quarter over quarter and your opinion is that somehow they’re going to go into bankruptcy if the sale doesn’t go through? someone needs to do more research lol

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Jcrem 2 days ago

A few comments have been made about offering Teoxane more money. That is not possible in a Tender Offer. Rule 14d-10 sometimes called the "all holders best price rule" requires an acquirer to offer the same consideration to everyone: https://www.law.cornell.edu/cfr/text/17/240.14d-10 The only exception is for certain employment agreements (think severance or non-compete payments).

Moreover, a few people suggested that Crown issue shares of the surviving entity to Teoxane. This runs into the same issues, but more than that would Crown really want a shareholder like Teoxane who has shown their true colors?

That said, there is some wiggle room around the commercial agreement including potentially making the commercial arrangement richer for some period of time. This would be heavily scrutinized by courts if it did happen.

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IanFromSI 2 days ago

You should at least read the press release issued by the company when the deal was announced.

It Explicitly stated that it was going down this path because it could not see any way to sell Dax at a profit.

Prior to that PR, there was an 80% probability that the company would go bankrupt. Conditions have not improved.

People like you deserve what you get.
You and Van seem to think you know it all.

It’s a lot closer to you knowing absolutely nothing

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MeteoricChimera43 2 days ago

This guy is just another short trying to get your shares on the cheap. Do you own research

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vinmantoo 2 days ago

If it fails, There’s a substantial risk that it will go into bankruptcy. In that scenario, holders of Revance will get zero dollars.

Nonsense. RVNC isn't going bankrupt.

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MeteoricChimera43 2 days ago

Another short player lol. The deal was suppose to close “by the end of the year”, so you obviously don’t have a clue about what’s going on in the transaction and therefore should keep your comments to yourself. Your ignorance is showing. Even in the very rare chance that the deal does go south, reverse is just fine financially and sales continue to increase quarter after quarter and market share for their products continue to grow over 7 to 9%. Ranc isn’t going anywhere unless it’s brought private by Crown

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IanFromSI 2 days ago

Do you have any experience whatsoever?

Trades were made for $6.64 shortly after this deal was announced. The market was certain that the deal would close soon.

That didn’t happen. The market is less certain the deal will happen. If it fails, There’s a substantial risk that it will go into bankruptcy. In that scenario, holders of Revance will get zero dollars.

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MeteoricChimera43 2 days ago

Revance is going private and wholly owned by Crown this week anyway. If you don’t own shares now and want a nice 15% ROI, then buy shares today and wait for final disposition. If you already own shares, don’t allow them to buy at a discount and again, wait until they announce this week that deal is closing.

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Ellington 2 days ago

Your post is hard for me to follow, but I thought to ask, "Why do we continue to buy shares of any company, if our percentage of the whole can become far less than the percentage of the whole; and not because of a dilution, but because of a final deal."

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mouton29 4 days ago

So if Teoxane gets to roll their shares into the new entity, why the other minor shareholders dont have such option?

Because Crown gets to choose who it wants to join in the buying group, and typically that is restricted to important members of management and investors with some strategic importance or at least enough cash, not the poor folk. The structure of a rollover is typically that there would be an agreement that the party rolling their shares doesn't tender but agrees to contribute them into the merger company that will merge into the target (here, RVNC) in the second step merger. In the merger, all shares of the target are converted to the right to receive the merger consideration (here, cash) while the shares of the merger company are converted into shares of the target, so that the former shareholders of the merger company end up owning the stock of the target. Often there are variations, for example, there will frequently be a holding company above the merger company.

Economically you get to the same place that you would get to if the rolling shareholders sold their shares (or allowed them to be converted to cash in the merger) but reinvested the cash in the acquisition vehicle -- which is not open to the public, since the point of the acquisitioin is to get control and cause the company to not be publicly traded. Thought it that form were adopted and respected, the tax consequences could be different.

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Silent_Insomniac10k 4 days ago

Couldn't they just pay Teoxane double the TO price to get them off their backs? That'd only increase the deal amount from $924m to $968m. A price increase of 5%. We don't see the tender price go up for us, but at least it pushes through.

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iwfal 4 days ago

We all hope that it true and the merger price increases, but not likely. They can make all kinds of side deals that will create the compensation that they’re looking for to allow the merger to go through.

Agree this is true - there are many options to increase value for Teoxane. Increasing ownership of Crown via increasing RVNC share value is just one of many "arguably" equal NPVs. But then comes motivations - eg Teoxane didn't need to buy all those shares in RVNC. No really good reason it was necessary for the deal. Yet they did. They want ownership in a drug, beyond their own, that they believe in seems a likely motivation.

That said, I don't know anything about Crown's limitations or (semi-arbitrary) motivations. Eg how much additional capital do they have access to? (you mention a failed attempt for a Korean company at 4x the price - which implies a lot of additional capability?) And since Crown's motivation is a black box to me I have to model it as 'they will be motivated to push the Teoxane offer into other, non-dilutive, things as much as possible'.

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MeteoricChimera43 5 days ago

We all hope that it true and the merger price increases, but not likely. They can make all kinds of side deals that will create the compensation that they’re looking for to allow the merger to go through. That’s exactly what’s going on right now likely that it actually will proceed next week. they’re far too deep into this at this point. This is all about the money like it always is and who gets theirs.

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iwfal 5 days ago

If teoxane is attempting to argue they are owed (more) shares then their position is bolstered by making an argument about the worth of their RVNC shares (and, by extension, all RVNC shares). Yes, it’s not their only argument, but it’s actually a reasonable one.

And BTW, i doubt Crown has bought a lot of shares so far via shells. The SEC reporting is for Beneficial Ownership. And SEC frowns on attempts to bypass this.

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alertmeipp 5 days ago

You might be right but just keep ur childish comments to yourself.

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Revance Therapeutics Inc (RVNC)

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

RVNC News

Revance to Release Second Quarter 2024 Financial Results on Thursday, August 8, 2024

Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Revance to Participate in Upcoming Investor Conferences

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Form 8-K - Current report

Revance Reports First Quarter 2024 Financial Results, Provides Corporate Update

Revance Expands into the U.S. Therapeutics Market with the Launch of DAXXIFY® for the Treatment of Cervical Dystonia

Revance to Release First Quarter 2024 Financial Results on Thursday, May 9, 2024

Revance to Present New DAXXIFY® Data at the American Academy of Neurology 2024 Annual Meeting

Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Form 4 - Statement of changes in beneficial ownership of securities

Form 8-K - Current report

Form 424B5 - Prospectus [Rule 424(b)(5)]

Form 4 - Statement of changes in beneficial ownership of securities

Form 4 - Statement of changes in beneficial ownership of securities

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Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

RVNC News

Revance to Release Second Quarter 2024 Financial Results on Thursday, August 8, 2024

Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Revance to Participate in Upcoming Investor Conferences

Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Form 8-K - Current report

Revance Reports First Quarter 2024 Financial Results, Provides Corporate Update

Revance Expands into the U.S. Therapeutics Market with the Launch of DAXXIFY® for the Treatment of Cervical Dystonia

Revance to Release First Quarter 2024 Financial Results on Thursday, May 9, 2024

Revance to Present New DAXXIFY® Data at the American Academy of Neurology 2024 Annual Meeting

Revance Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Form 4 - Statement of changes in beneficial ownership of securities

Form 8-K - Current report

Form 424B5 - Prospectus [Rule 424(b)(5)]

Form 4 - Statement of changes in beneficial ownership of securities

Form 4 - Statement of changes in beneficial ownership of securities

RVNC Discussion

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