Wells Fargo analyst David Maris noted that Evolus (EOLS) received a Complete Response Letter for its application for cosmetic neuro toxin candidate DWP-450, which he views as good news for Allergan (AGN) as the delay means Evolus will miss the 2018-2019 holiday season, which he points out is an important selling season for Botox. Maris, who also thinks Allergan may be able to use the CRL to "counter-detail" DWP-450 with doctors if the product does reach market, keeps an Outperform rating on Allergan shares.

The company states: "Evolus announced that the Aesthetic Surgery Journal has published the safety and duration of effect results from the Phase 2 study of 40U Jeuveau(R) (prabotulinumtoxinA-xvfs) for the treatment of moderate to severe glabellar lines in adult patients. The "extra-strength" glabellar line study is a multicenter, double-blind, randomized, Phase 2 trial following 150 patients for up to 12 months or until the patient loses their correction. The study has three arms: Jeuveau(R) Extra-Strength 40U and two active controls, BOTOX(R) 20U and Jeuveau(R) 20U. Efficacy results demonstrated 26 weeks, or 6 months duration across the multiple metrics presented, including the time it took for patients to return to their baseline GLS score after their treatment, the duration of effect for a patient with at least a one-point GLS improvement, and the time it took a patient to return to their baseline using the Global Aesthetic Improvement Scale. The safety profile was similar across all three arms and overall, 88.9% of adverse events were rated as mild and no serious adverse events were identified."