Revance Therapeutics Inc (RVNC) News

We all think BoD got us awful price but the odd thing is so far no one other than Crown willing to buy RVNC out. Otherwise, Crown won’t have a chance to take so long to squeeze Foley.

I really don’t think they are talking about break-up fee as if so, they could have mentioned by now and RVNC will need to tell the investment communities their go-forward plan without a buyout. Your argument makes sense, but it is not dispositive, IMO.

RVNC’s BoD already shirked its fiduciary duty by agreeing to the Crown deal in the first place, so it’s not hard to envision the same BoD sitting idly by while investors are mistreated by not being told about a go-forward plan.

RVNC tender delayed until 12/9/24 (or later):

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124048480/ef20039621_8k.htm

Other than the date, there are no changes to the language in the 8-K pertaining to the buyout “deal.”

It almost feels like management is trolling us lol

Dec 9 is Monday. So technically, it is still 2 business days.

UnREAL is understatement but this is not pennyland and Advisors* to ‘transaction’ are acting like it!!!

If there are open questions to ANYTHING, why not go Monthly/Bi, not 2day , 3day …Truly a Case Study …Nevr I have I EVER( 54yrs of Markets) wow

*Legal & Financial

I really don’t think they are talking about break up fee as if so, they could have mentioned by now and RVNC will need to tell the investment communities their go forward plan without a buyout.

This distraction is unreal.

Literally crazy land

Dec 9th!! Lmao…’never have I ever’—think that was a drinking game ( called charade’s or Tender, or l…)
Wow

https://ih.advfn.com/p.php?pid=nmona&article=95046264&_gl=1*6jkqmo*_gcl_au*ODQyNDIxNDQ1LjE3MjY0MjkyNjk.

And all positions are being held at 4% average if all shares, keeping them all just under the 5% ownership filing rule, except BlackRock, who also just happens to have a $3.88 average share price, but they own 9% of all outstanding shares. Strange stuff going on

I can’t paste photos on here for some reason, but look at Sage Tracker for Institutional positions and you’ll see them all.

Can anyone explain why there was like 50,000,000 new Institutional positions positions taken recently and ALL closed at $3.88 per share. No way that’s even possible unless someone planned it.

What are the chances that the delay is due to a new buyer want to join force with Crown, like TEOXANE

100% agree and they had a line of credit that they never used in 2023

Therapeutic alone could bring in 100s of millions od sales over time and Daxxify has clear advantage there.

Revance should just raise additional capital to keep pushing forward rather than giving up all upside hy selling out at 6 bucks.

Dew is stating his opinion, not giving fiduciary advice. Plenty of people have disagreed with Dew on numerous occasions.

Dew can be wrong, as all of us can, especially in biotech. I admit, most biotechs go up after FDA approval of their main product, but RVNC has been the exception, not the rule.

You are not paying Dew for their advice. You don’t even pay to post on iHub.

I publicly stated that I sold all my RVNC, at a substantial loss, within days of their initial announcement of the $6.66 buyout. I’m glad I did. Other people sold when the stock was at $36, oh so long ago, and said so, while others hold on, hoping for better days. That’s what makes a market.

If you only listen to what Dew says, and not others, that’s on you.

If you want someone to blame, look to Foley and RVNC management. It shouldn’t take um-teem times to close a sale and take the company private, leaving all the investors in a publicly traded company twisting in the wind.

It says milestone payments (plural), which I take to mean separate milestone payments for each of the two indications.

Thanks Dew. It would be nice if Foley had thought about mentioning this.

Yes, RVNC is due a (probably modest) milestone payment from Fosun Pharma for China’s approval of Daxxify in CD. From RVNC’s 2023 10-K (page 11):

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000147929024000038/rvnc-20231231.htm In April and July 2023, the NMPA accepted Fosun’s BLA for DaxibotulinumtoxinA for Injection for the improvement of glabellar lines and treatment of cervical dystonia, respectively. The anticipated approvals for both indications are expected in 2024. We are entitled to receive additional milestone payments from Fosun upon approval of DaxibotulinumtoxinA for Injection in China… It says milestone payments (plural), which I take to mean separate milestone payments for each of the two indications.

Meanwhile, China approved Daxxify for cervical dystonia.

Is there any milestone for this approval? I wonder if Teoxane is getting mad that Foley undervalued the potential money from Daxxify sales in China in accepting the current bid of $6.66 and they are pushing for either a higher price or for the deal to end.

Stocksrising, thanks for the post that was more complete than mine on this topic. I posted mine before reading yours. We are on the same page.

cervical dystonia is not the only medical condition they use DAXXIFY for. Any condition like Pudendal neuralgia or any nerve condition that creates spasms it’s highly recommended and being used more and more, because it last twice as long as Botox, which they’ve been using for years for the same purposes, and on an in very increased basis year over year. This may not be a huge income stream in the short term, but Revance and other know the potential to be huge.

2 days extension now, its like Xmas count down

As many of us speculated, Price paid adjustments and teoxone relationship along with breakup fee’s are prob holding up Tender but could this Fosun approval move the needle??
Don’t know if ~70k Chinese market will mean much, but this brings more markets opened for Crown if successful and mr. market likes this release..I’m sure market also likes a 2 day extension( perhaps final , lol)


From Bing AI:
How many people in China have cervical dystonia?
Copilot—

Cervical dystonia, also known as spasmodic torticollis, is a neurological disorder characterized by involuntary muscle contractions in the neck, leading to abnormal movements and postures of the head and neck. In China, the prevalence of cervical dystonia is estimated to be around 4.98 per 100,000 people 1 2. This means that in a population of approximately 1.4 billion, there could be around 69,720 individuals affected by this condition.

RVNC tender delayed until 12/5/24 (or later):

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124048244/ef20039450_8k.htm

Meanwhile, China approved Daxxify for cervical dystonia.

For the nth time, hope we can move on from Crown and Foley fired.

I stated many times that Foley was a total idiot! Many Allergan executives told me they would never join or be part of a company that Foley runs! The guy is a narcissist and total train wreck!

Teoxane is the only company that would love to take over Revance! I hope Teoxane gets the chance to showcase Daxi and kicks Foley to the curb!!!

I have never knowingly spread any false information of any nature whatsoever.

No, you just accused/lied that others who had a different opinion than you of knowingly spread false information. I find it despicable.

If the permabulls had listened to what I have said on this board, they would’ve sold their shares at much higher prices, and been a lot wealthier than they are today. If they (you) still felt that the company is a worthwhile risk, they could’ve used some of the profits that they would’ve taken to buy practically any number of shares with money that they felt like throwing in the garbage can.

What a pathetic little self-serving screed! So if you were such a genius you must have shorted RVNC and made a fortune, right?

Rather than repeatedly attack and demean others who had a different view of RVNC's prospects, why don't you use your financial genius and give of 4 or 5 excellent biotech risks where we can invest our hard earned money? It should be child's play for such a self-proclaimed financial guru as yourself.

You dont have names. I knew it. ;)

Why would I share names with you?

All you’ve done is ignore me and to attack me.
… And lose money while doing so.

Share some names

Every board all i see u is bashing

I have never knowingly spread any false information of any nature whatsoever.

If the permabulls had listened to what I have said on this board, they would’ve sold their shares at much higher prices, and been a lot wealthier than they are today. If they (you) still felt that the company is a worthwhile risk, they could’ve used some of the profits that they would’ve taken to buy practically any number of shares with money that they felt like throwing in the garbage can.

There are numerous biotechs which offer substantial opportunities for growth. I failed to understand that the permabulls would continue to stubbornly remain addicted to the belief that this company had the best product and therefore was guaranteed to have a fabulous stock price even as bankruptcy became more imminent and more probable.

But I have come to the conclusion that anyone who wants to stick with that belief, deserves to lose their money. There’s nothing more that I can say that will be accepted as a needed insight or warning.

If you wish to continue to ignore me, it’s your money. Have at it!

Failing further attacks on me, this is my last post on this subject. Hopefully.!!!

IanFromSI, question, why would someone continue to spread false info and then pretend to care about people losing money here? Why?

I am sure you wont think i am talking about you!

The message I’m replying to was a response to Dew D in which he promoted keeping your RVNC shares.

I was surprised when he:

- didn’t respond to my message, and instead,
- Deleted his post rather than mine.

So I did a little digging. Here’s the law in Canada.

=====================================
Promoting a stock that is nearing bankruptcy can be considered a criminal offense if it involves fraudulent misrepresentation or deceit.

If the promoter knowingly makes false statements to inflate the stock price and then sells their shares, they can be charged with securities fraud.

This is especially true if the actions influence the market price of the stock.
=====================================

I think the US has either the same or very similar set of laws in its criminal code.

Nonetheless, we should’ve recognized long ago that Crown no longer wishes to purchase RVNC at $6.66, and that RVNC has not been able to find another interested buyer yet.

Maybe, maybe not. You keep trying to tell us you know what will happen or why it is happening when nobody knows. What has been going on is extremely unusual if not unprecedented. I sure as hell haven't seen anything like it. I can spew out a guess that Teoxane wants a higher buyout price. Crown really wants to buy RNVC so is negotiating how much more they will have to pay to satisfy Teoxane. My guess is as worthless as yours.

Foley is just the worst CEO ever - really hope to get over Crown soon one way or another. Can't believe he can't even close a lowball deal done properly.
Crown should see tons of upside after they had deal with Foley.

For those who didn’t execute their position at the $6.60 level I feel bad for you. Personally I lost well over 300k with Foley and his poor decision making and incompetence. After all the missteps, when crown agreed to the deal I reluctantly sold knowing that the company was worth more. For those who suggested shareholders were better to wait until the deal closed they were dead wrong. I hope for the shareholders who stuck with the likes of Angus Russell and Foley I truly hope you receive at least $5.50 . From my investing experience you are in uncharted waters.
Best of luck to all of you now and in the future..

Nonetheless, we should’ve recognized long ago that Crown no longer wishes to purchase RVNC at $6.66, and that RVNC has not been able to find another interested buyer yet.

In the last 8K, I believe the word price got changed to “offer” price.

That may be your belief, but three minutes of looking at the sec website confirms that you are mistaken.

8K from Nov 26

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124047831/ef20039245_8k.htm

he Company’s ongoing discussions with the Buyer Parties could result in further delays to the commencement or consummation of the Offer, or in the Company or the Buyer Parties seeking remedies in accordance with, and modifications to, the terms of the Merger Agreement, including offer price.

8K from Nov 19

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124047293/ef20038831_8k.htm

The Company’s ongoing discussions with the Buyer Parties could result in further delays to the commencement or consummation of the Offer, or in the Company or the Buyer Parties seeking remedies in accordance with, and modifications to, the terms of the Merger Agreement, including offer price.

8K from Nov 12

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124045956/ef20038428_8k.htm

The Company’s ongoing discussions with the Buyer Parties could result in further delays to the commencement or consummation of the Offer, or in the Company or the Buyer Parties seeking remedies in accordance with, and modifications to, the terms of the Merger Agreement, including offer price.

8K from Nov 1

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124044892/ef20038055_8k.htm

The Company’s ongoing discussions with the Buyer Parties could result in further delays to the commencement or consummation of the Offer, or in the Company or the Buyer Parties seeking remedies in accordance with, and modifications to, the terms of the Merger Agreement, including offer price.

In the last 8K, I believe the word price got changed to “offer” price. I. E. Ambiguity has been removed, and Crown probably doesn’t wanna buy RVNC and
almost certainly is no longer willing to pay $6.66.

I’ve never seen a situation like this before, so I have no idea if any precedents would allow Revance to accept a lower offer and not be sued by the arbitrageurs and possibly others. …. Like Teoxane. I doubt that any other shareholders have any recourse.

I can’t imagine any path that leads to a happy ending for existing shareholders.

I can deal with that, either way...then reshuffle C-ste, have a few board members resign and refocus on Sales/Marketing but first secure financing from various sources if possible*.. stock goes sub $2( for a qtr or 2), and slowly accumulate for a 2026 payoff...the product works( as you and many say-including my GF and her injector, others)...lets see what happens next week( or the , or the next, and so on)...Happy Holidays

Honestly, been around ‘the street’ for several decades, personally participated in 2 reverse merge’s( this isn’t exactly that, but) and have no clue what could be the weekly holdups!!

They decided they wanted to finish their Christmas shopping before finalizing the deal. This way their minds wouldn't be distracted by worrying about what to get their spouse.

if that's what they have been discussing about, then management should have hosted a call for Q3 to talk up the company as an ongoing entity?

The lingering disagreement may be about which party pays the break-up fee.

So now they might tender during the holiday seasons

Still think the most likely scenario is they will go through with reduced price. At this point, put is just too expensive for me.

RVNC tender delayed until 12/3/24 (or later):

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001479290/000114036124048023/ef20039354_8k.htm

Other than the date, the language in the post I’m replying to is identical to the 8-K filing on 11/26/24.

Honestly, been around ‘the street’ for several decades, personally participated in 2 reverse merge’s( this isn’t exactly that, but) and have no clue what could be the weekly holdups!! I mean, if they are negotiating ‘several aspects of transaction’, why not go bi-monthly/monthly, etc…
So, I’m buying downside puts for protection, but
Holding current( reduced) positions since ‘deal’ announced…now we wait until next week, enjoy the holiday shopping:)

What are they even discussing at this point?
Crown is playing game or what

extended to 12/3 :)

Due to the ongoing discussions between the Company and Crown, the Company and the Buyer Parties agreed on November 29, 2024 to further extend the date by which Merger Sub is obligated to commence the Offer pursuant to the previously announced Merger Agreement, to December 3, 2024 or such other date as may be mutually agreed to between the Company and the Buyer Parties. The Company’s ongoing discussions with the Buyer Parties could result in further delays to the commencement or consummation of the Offer, or in the Company or the Buyer Parties seeking remedies in accordance with, and modifications to, the terms of the Merger Agreement, including offer price.

Ahhh, the good ole’ days when we could all talk about the benefits of Daxxy vs. competition ( and the claims and marketing on social media) …if deal closes, all a moot point, but if not, Revance could really take advantage of others missteps( assuming new leadership @ helm)

https://www.fiercepharma.com/marketing/fda-slams-merz-over-misleading-instagram-ad-botox-rival

Extended to Nov 29… this Friday.

So are they are going to make the deal on Wednesday, work over Thanksgiving to make the deal on Friday or postpone until Christmas Eve? You decide.

Looks like Foley has secured his long weekend