Revance Therapeutics gains after higher second-quarter sales of aesthetic products

Revance Therapeutics

09/08/2024 17:13

** Shares of aesthetic drugmaker Revance Therapeutics
 RVNC.O  up ~21% at $3.55
    ** Company among top percentage gainers on Nasdaq
Biotechnology Index  .NBI   
    ** Late on Thursday, Revance reported second-quarter net
product revenues of $65.4 mln compared to $54.4 mln for the same
period last year 
    ** RVNC's product revenues include sales from its
anti-wrinkle injection Daxxify and its facial fillers RHA
Collection
    ** Company continues to expect 2024 total net product
revenues of at least $280 mln
    ** Analysts on average were expecting net product sales of
$276.1 mln for the year - LSEG data 
        ** RVNC's Daxxify relaunch is broadening and the repair
is expected to continue into second-half of this year - TD Cowen
    ** Brokerage said it is "cautiously optimistic" for the
relaunch, as RVNC saw increased penetration of the product into
new accounts during Q2 
    ** RVNC added about 700 new Daxxify accounts in Q2, higher
than the normal 500 accounts - brokerage
    ** TD Cowen believes the Q2 implementation of "bundling
strategies" to sell RHA and Daxxify together will contribute to
RVNC's sales growth momentum 
    ** Including session moves, RVNC down ~60% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))