Revance Therapeutics Inc (RVNC) Quote

There will be more Class Action suits when this blows up, PM me if interested, already have balls in motion ( unfortunately) !! Gross mismanagement ( C-Ste AND B.o.D) …fwiw, sold half at Loss & hold the rest around here! Naked Puts might get exercised, that will lower cost( again, unfortunately)

The turn over rate at RVNC for reps is over 70% and there was a mass exdous this past Jan which has been due to comp plan and management changes that hurt the sales force moral.

Yes, and Daxxify sales went up. Cost cutting was needed.

The stock and Crown merger has only made it worse. Crown reps have a lot in thier bag already to sell so the RVNC reps will still keep their injectable jobs.

So RVNC reps will still keep their jobs. If so, why would you imply they are all quiting?

The only concerm is the exisitng salesforce, RSM, Director headcount currently is overly expanded/inflated and needs to be reduced to cut costs and improve productivity. RVNC expanded the count to launch Daxxi but the sales growth didn't happen so many left post launch when the goals and buy in rules were unfavorable.

Yes, that is how RVNC cuts costs previously and still gained sales.

Few are making a comp plan check now so of course they will look for other jobs. You can't live on a base pay. Most all of injectable reps I know want out from Allergan, Galderma, etc.

People should put out resumes to look for new jobs. You made a list of multiple companies and claim most reps want out. So who is staying and why?

Teoxane could easily sell RHA and the Teoxane Skincare line to physician's to have been asking for it for years...or maybe they partner with the Canadian TEOX distributor to create a salesfoce in the USA. See Clarion Medical in Canada.....

The turn over rate at RVNC for reps is over 70% and there was a mass exdous this past Jan which has been due to comp plan and management changes that hurt the sales force moral. The stock and Crown merger has only made it worse. Crown reps have a lot in thier bag already to sell so the RVNC reps will still keep their injectable jobs. The only concerm is the exisitng salesforce, RSM, Director headcount currently is overly expanded/inflated and needs to be reduced to cut costs and improve productivity. RVNC expanded the count to launch Daxxi but the sales growth didn't happen so many left post launch when the goals and buy in rules were unfavorable. Few are making a comp plan check now so of course they will look for other jobs. You can't live on a base pay. Most all of injectable reps I know want out from Allergan, Galderma, etc.

I didn’t say all. But some are leaving

What does many mean? If you quit I don’t believe you can collect unemployment. All I am saying is not all the reps will quit.

Where did you get your information?

I heard many of the Reps are quitting, not being laid off.

Could this be carved out? Therefore would not constitute a MAC?


5.12 Material Contracts.
(a) List of Material Contracts. Section 5.12(a) of the Company Disclosure Letter contains a true, correct and complete list of all Material Contracts, as of the date of this Agreement,

§1.1(w) None of the following (by itself or when aggregated) will be deemed to be or constitute a Company Material Adverse Effect or will be taken into account when determining whether a Company Material Adverse Effect has occurred or may, would or could occur (subject to the limitations set forth below):
(xiii) the items set forth on Section 1.1(w)(xiii) of the Company Disclosure Letter.

Why are you so sure people will willingly and quickly quit their jobs. Why not wait and see what happens? Not everyone is independently wealthy like you.

Of course sales reps should be updating their resumes as part of the process of seeking new employment if or when they lose their current RVNC job. Do you think Crown has a crack sales team ready to jump in and start selling Daxxify so they will fire all the RVNC sales reps ASAP?

Teoxane’s 6.5 million shares are currently averaged at $14.50
Per share. Unless they have been buying over the past 30 days, but even then it’s going to in the teens. She is probably demanding her shares be part of the ownership going forward or higher payout. If it is a higher price per share for the buyout to get her shares and get her to drop any possible litigation, they’re going to have to offer all shareholders from here forward at higher price as well.

By the facts that they gave the notice shortly after the merger news, and RVNC needs to ramp up RHA as much as possible to ensure its survival

I doubt RVNC will knowingly breach the agreement during this critical junction

Wouldn't you think the Reps left in droves once they realized the company wasn't going anywhere and all their options were underwater, not to speak of the stock they probably purchased through the employee program.

There might not be anyone left to sell the fillers.

Depends how much Crowns willing to pay up. Tex's cost basis I think is around mid to high teens.
I would think Tex would at least get closer to that .... but it also depends on how much leverage she actually has..

They can exchange RHA royalty with EU Daxxify royalty and call off the deal too, then RVNC can secure additional cash flow. That would be a ideal case.

I wanted mid teen minimum for my shares but now happy with 10 bucks

That would be great but if, and that is a big if, a new higher bid is put forth I doubt it would be more than $1-$2 higher than the $6.66

By the facts that they gave the notice shortly after the merger news, and RVNC needs to ramp up RHA as much as possible to ensure its survival

I doubt RVNC will knowingly breach the agreement during this critical junction

Chance is high they are paying hardball for higher price, how much higher Crown willing to pay is the question

Hopefully someone else step in and close this mess

I wanted mid teen minimum for my shares but now happy with 10 bucks

Here is a link to the Jan 2010 Revance - Teoxane agreement filed as an Exhibit to the 10-Q on Jan 10, 2020

https://www.sec.gov/Archives/edgar/data/1479290/000147929020000042/fy1910-kexhibit1043teo.htm#s1DFC4791AADBD4C4BDBE7F318C55CA31

Lots of interesting stuff regarding termination of the agreement.

I think Anus is more focused on Structure than Revance !! Getn his free shares from another Co., and unfortunately I own that one too!! Fml


1. Name and Address of Reporting Person *
Russell Angus C.
(Last) (First) (Middle)
C/O STRUCTURE THERAPEUTICS INC.
601 GATEWAY BLVD., SUITE 900
(Street)
SOUTH SAN FRANCISCO CA 94080
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Structure Therapeutics Inc. [ GPCR ] 5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/26/2024


75k shares for the bubble !!
26/2024 A 75,000 (2) 08/25/2034 Ordinary Shares (3) 75,000 $ 0 75,000 D

Yep, amazing just how bad communications with shareholders are and how poorly this company has been managed. It is so obvious that this 8K is filed a month too late.

Enmanow, you were right along, we should have fired Foley long ago

The only thing I would add is to fire the BoD as well

Angus Russell and Mark Foley have proven their incompetence multiple times. They have destroyed a once promising company. At this point I hope they get themselves in multiple lawsuits and personally feel the pain they have brought upon shareholders for the last 2-3 years.

Do we know the expiration date of the Teoxane agreement?

Just for info, Teoxane has been evaluating creating a Teoxane USA company to sell and distribute their skincare product line for several months..with the current market share of RHA combined with their current skincare product sales (sold via the internet and shipped from Europe directly to physicians), they could support a direct sales team in the USA for RHA and their skincare products.

More than a month before they disclosed it.

Given that it is clearly a Material Event it’s lawsuit and SEC material.

History repeats itself with this stock. As I've said many times prior - I do NOT trust Foley -

REVANCE THERAPEUTICS SHAREHOLDER ALERT: CLAIMSFILER REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Revance Therapeutics, Inc. - RVNC. 01/14/2022

About the Lawsuit - sounds familiar?

Revance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

https://www.biopharmcatalyst.com/company/RVNC/news/67955

So if the deal failed to proceed in this case, who will pay who?

Tex sent them the notice 4 days AFTER the merge deal was announced

The guess from someone here was Tex told Crown and Foley they are not happy about the price, but Foley and team decided to go ahead

And Tex did the notice to say screw it

Yeah the worst case is now the deal failed and RHA is gone? Best case is deal failed and RHA stays and RVNC can sell EU Daxxify right by paying lower royalties for RHA sales

More than a month before they disclosed it.

Given that it is clearly a Material Event it’s lawsuit and SEC material.

Maybe they thought they would be able to resolve it. Not sure.

More than a month before they disclosed it. Why did they finally decide to confess?

Valérie Taupin may just plain be mad and is reacting by behaving very angrily and viciously. Reminds me of the saying "Hell hath no fury like a woman scorned."

If Teoxane wants out, this is not only bad news for the deal but just plain bad news for Revance shareholders who remain. The question remains as I first posted on 9/16 when the share price drop indicated a problem:
Is it possible Teoaxane is making some threats to walk and take the filler line elsewhere? Other issue? Does Teoaxane have any other options besides RVNC in the US these days now that EOLS hooked up Symatese?
or as stated in #msg-175099752
Teoxane competes effectively in Europe without a Toxin line and probably thinks they can do so in the US without Revance (either on their own or with some new partner).
Anybody have opinions on whether Teoxane can realistically go it alone or take the line elsewhere?

Agree

If Tex gets EU right for free or too cheaply, there will be lawsuit coming after Tex and Revance, as that would clearly show different treatment for the same class of shareholders.

Same ..well soon find out

This might be about the term "merger" rather than sale. It's probable Teoxane has certain rights if a change in ownership occurs and Revance has called this a merger which might blunt those rights.

I agree with this. Although they are certainly not happy with the sale price, I think this is a leverage move for something else (not a higher share price). Most likely to get a better RHA deal and/or to get the Daxxify rights in Europe.

I am not an attorney but I do not read it as them asking for a higher buyout price.

One remedy could potentially involve Teoxane somehow leaving the deal all together, but there’s no indication of them pushing for a higher buyout price. The primary focus is on resolving their contract dispute.

Either higher price or the deal won’t go thru at all

If Teo somehow gets the EU right for a song, you know something fishy is going on with Foley and BOD (as that would mean they indeed are rushing this deal and didn’t maximize shareholder value)

Seems Teoxane is using its leverage.

It is genuinely fascinating how incompetent Foley is. There is zero excuse for this since it’s a clear issue. He should have assessed all major holders of stock ahead of time - at which point he’d know Teoxane would be underwater at the Crown price and would have leverage.

Interesting question is what happens if Teoxane gets a Daxy license in Europe as result of on-going negotiations. Helps shareholders not at all but might allow deal to go thru?

Comment (if acquisitions goes thru): whats the over/under on how quickly Crown sells therapeutic, and for what price. My guesses: within 18 months, and for at least 80% of what Crown paid Revance

I knew Teoxane was going to be an issue on this acquisition the second it was announced. Not sure how this plays out though.

Item 8.01 Other Events.
On August 16, 2024, Revance Therapeutics, Inc. (the "Company" or "Revance") received a notice to remedy alleged material breaches, including breaches of the maximum levels of buffer stock and required efforts to promote and sell Teoxane products, under the Company's exclusive distribution agreement with Teoxane SA ("Teoxane"), dated January 10, 2020, as amended (the "Distribution Agreement"). The Company denies the alleged material breaches asserted in the notice, does not believe that the asserted allegations constitute material breaches under the terms of the Distribution Agreement and intends to defend itself vigorously. The Company is engaged in discussions with Texane regarding the notif-ication. These discussions could result in various outcomes, including but not limited to, the Company and Teoxane agreeing to modify certain terms of the Distribution Agreement, including the Company's minimum purchase obligations thereunder or the Company or Teoxane seeking remedies under the Distribution Agreement, including Teoxane seeking to terminate the Distribution Agreement. The Distribution Agreement continues to be in full force and effect.
In light of these discussions, on September 19, 2024, Revance, Crown Laboratories, Inc. ("Crown") and Reba Merger Sub, Inc. ("Merger Sub," and together with Crown, the "Buyer Parties") agreed to extend the date by which Merger Sub is obligated to commence the tender offer for all of the outstanding shares of common stock of the Company (the "Offer") pursuant to the previously announced Agreement and Plan of Merger, dated as of August 11, 2024, by and among the Buyer Parties and the Company (the "Merger Agreement"), to October 4, 2024 or such other date as may be mutually agreed to between the Company and the Buyer Parties.
https://ih.advfn.com/p.php?pid=nmona&article=94592966

Seems Teoxane is using its leverage.

They got the notice on Aug 16.

Revance Therapeutics received a notice from Teoxane SA alleging material breaches of their exclusive distribution agreement, including buffer stock levels and promotion efforts. Revance denies these claims and believes they do not constitute breaches under the agreement. The company is in discussions with Teoxane, which may lead to modifying the agreement or potential legal remedies, including possible termination. The agreement remains in effect while these discussions continue.

New date now Oct 4
The board is right, seems RHA related

Have you done an R^2 analysis on hashtag# vs sales?

I bailed at $6.58. Don’t have to think twice about the stock any more or try to read tea leaves to try and divine what is going on behind closed doors.

Did keep one share so I can watch the drama unfold without the pain.

Needless to say, that one share is underwater. ;-(

As to people saying that Crown is delaying just so they can get cash for the tender at lower interest rates, don’t you think that when company A wants to straight out buy company B, they’d have all their ducks lined up in a row in advance?

I could say that I want to buy Exxon, but they’d laugh in my face if I didn’t have the money to do it.

Really? Nothing to do with sales then…

This company’s journey is a perfect study case for marketing, finance and business majors. Unbelievable twists and turns…

That is of course unless Foley told them that the 280 number was not reachable and the stock would get hammered after the street found out ?

A good CEO under-promises and over-delivers. If you are correct, it adds more evidence that Foley is a crappy CEO.

To a degree I guess you are correct. I would have hoped the board would have been more diligent and driven by facts and data . That is of course unless Foley told them that the 280 number was not reachable and the stock would get hammered after the street found out ?

I think Foley has been consistent in his leadership and decision making process. He should have been replaced when the sales strategy miserably failed.
That said the decision to accept the offer from Crown was approved by the BOD. If the 280MM was doable in 2024 why would the board approve this? Was the entire board incompetent as well ?

You answered your own question. You stated Foley should gave been fired but the board didn't fire him. Wouldn't that mean they are incompetent too, or at least too buddy buddy with Foley?

Just the opposite, I think Foley has been consistent in his leadership and decision making process. He should have been replaced when the sales strategy miserably failed.
That said the decision to accept the offer from Crown was approved by the BOD. If the 280MM was doable in 2024 why would the board approve this? Was the entire board incompetent as well ?

Why not wait. Guessing we go down, not up.

The million question I have is , If RVNCfan is tracking the conversion to Daxiffy correctly why in the world would Foley and the board of directors take such a low ball offer ?

Do you think Foley has made great decisions over the past few years so a poor decision to sell would represent an anomaly?