Here is why Revance Therapeutics Inc. (RVNC) stock turnaround in the after-hours on Tuesday?

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Revance Therapeutics Inc. (RVNC) shares surged 10.61% in after-hours on Tuesday, October 12, 2021, and closed the daily trading at $22.62. However, in the regular trading session, RVNC’s stock lost 25.09%. RVNC shares have fallen 26.33% over the last 12 months, and they have moved down 18.82% in the past week. Over the past three months, the stock has lost 33.34%, while over the past six months, it has declined 27.41%.

Let’s have a look at its recent news and developments.


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RVNC update about axibotulinumtoxinA

On October 12, 2021, Revance Therapeutics, Inc. (RVNC) replied to the public disclosure of its Form 483 according to a Freedom of Information Act (FOIA) request that was directed to the FDA. The Biologics License Application (BLA) for DaxibotulinumtoxinA for Injection remains under FDA review and the company continues to anticipate FDA approval of DaxibotulinumtoxinA for Injection for the treatment of glabellar lines in 2021.

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Launch of RVNC OPUL™

On October 11, 2021, Revance Therapeutics, Inc. (RVNC) launched OPUL™. OPUL is the first-of-its-kind Relational Commerce Platform that combines seamless, simple, and smart payment solutions, practice data analytics, and enhanced customer service to foster increased consumer loyalty and retention, specifically designed for aesthetic practices in the U.S.

RVNC participation at MDS Virtual Congress 2021

Revance Therapeutics, Inc. (RVNC) presented an ePoster with a video poster presentation by Dr. Joseph Jankovic at the International Parkinson and Movement Disorder Society (MDS) Virtual Congress 2021 which was held on September 17-22, 2021. Revance presented results from its ASPEN-1 Phase 3 clinical trial evaluating the efficacy, duration of effect, and safety of DaxibotulinumtoxinA.

RVNC data presentation at Virtual Skin of Color Update meeting

On September 10, 2021, Revance Therapeutics, Inc. (RVNC) data was featured during the 2021 Virtual Skin of Color Update meeting, which took place on September 10-12, 2021. The presentation highlighted findings from a new post-hoc subgroup analysis evaluating the effectiveness and safety of the RHA® Collection of dermal fillers for the correction of moderate-to-severe nasolabial folds (NLFs) in patients with darker skin colour.

RVNC recent financial results

On August 05, 2021, Revance Therapeutics, Inc. (RVNC) reported financial results for the second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • RVNC earned total revenue of $18.8 million for the second quarter of 2021 compared to $0.3 million for the second quarter of 2020.
  • Selling, general and administrative expenses were $50.6 million in Q2 2021 compared to $29.6 million in Q2 2020.
  • Research and development expenses were $29.4 million in Q2 2021 compared to $27.1 million in Q2 2020.
  • It suffered a net loss of $72.2 million in Q2 2021 compared to a net loss of $60.6 million in Q2 2020.
  • As of June 30, 2021, the company had cash, cash equivalents, and short-term investments of $336.3 million.

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Conclusion

In our opinion, the recent update about axibotulinumtoxinA could be the reason behind its gains in the after-hours on Tuesday.  It can continue its momentum on Wednesday as well.

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