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RVNC

Revance

$27.10

1.65 (6.48%)

16:15
11/29/17
11/29
16:15
11/29/17
16:15

Revance plans for RT002 injectable to treat cervical dystoniato go into Phase 3

Revance Therapeutics announced the completion of its end-of-phase 2 meeting with the FDA along with receipt of scientific advice from the Europe Medicines Agency regarding DaxibotulinumtoxinA for Injection for the treatment of cervical dystonia, a movement disorder of the neck, in adults. Based on the Phase 2 safety and efficacy results, along with guidance from the FDA and EMA, Revance plans to proceed to a Phase 3 program in cervical dystonia. Revance's Phase 3 program will be conducted at multiple sites in the U.S., Canada and Europe, and will be designed to fulfill regulatory submission requirements in both the U.S. and Europe. Revance is finalizing the trial protocols for the pivotal program, which is planned to commence in 2Q18. In May, the company reported that in a Phase 2 trial, RT002 appeared to be generally safe and well-tolerated, delivered clinically significant improvement in signs and symptoms of cervical dystonia in patients, and demonstrated duration of effect of at least 24 weeks. Earlier this month, the company announced that the FDA granted orphan drug designation for RT002 to treat cervical dystonia.

RVNC Revance
$27.10

1.65 (6.48%)

08/22/17
08/22/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on the today's top five analyst initiations with this list compiled by The Fly: 1. Redfin (RDFN) initiated with a Sector Perform at RBC Capital, Hold rating at Stifel, an Outperform at Oppenheimer and Neutral at Goldman Sachs. 2. Energen (EGN) initiated with an Outperform at Imperial Capital. 3. Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital. 4. Revance (RVNC) initiated with an Outperform at JMP Securities. 5. Pacira (PCRX) initiated with a Buy at Needham. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/16/17
MZHO
11/16/17
INITIATION
Target $37
MZHO
Buy
Revance initiated with a Buy at Mizuho
Mizuho initiated Revance with a Buy and $37 price target.
11/27/17
LEHM
11/27/17
INITIATION
Target $31
LEHM
Overweight
Revance initiated with an Overweight at Barclays
Barclays analyst Douglas Tsao started Revance Therapeutics (RVNC) with an Overweight rating and $31 price target. The analyst does not expect the company's longer-acting toxin RT-002 to displace Allergan's (AGN) Botox in aesthetics, but he's "constructive on the opportunity assuming 6-month duration."
11/29/17
11/29/17
UPGRADE
Target $200

Overweight
Allergan upgraded to Overweight amid 'overdone' Botox fears at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger upgraded Allergan (AGN) to Overweight from Equal Weight, saying that fears about a "better Botox" from Revance (RVNC) may be overdone. Noting that data about Revance's botulinum toxin RT002 Phase 3 trial is expected "any day now," Risinger said he thinks it could be difficult for Revance to demonstrate that RT002 is materially longer-lasting than Botox. While Risinger noted he is not predicting near-term major positive catalysts for Allergan, he thinks that the negatives have largely been priced in as the stock has pulled back 33% since July. The analyst keeps a $200 price target on Allergan, which closed Tuesday at $171.92.

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