- A major overhang has been lifted with the FDA approval of Revance Therapeutics Inc’s (NASDAQ:RVNC) Daxxify (DaxibotulinumtoxinA-lanm).
- The catalyst also provides a transformative growth driver for Revance in the ~$1.7 billion U.S. cosmetic toxin market.
- Mizuho has raised the price target to $30 and maintains the Buy rating.
- “We expect Daxxify to be a major competitor given its best-in-class profile with the 6-month median duration of effect in treating glabellar lines,” writes Mizuho analyst.
- Mizuho estimates Daxxify’s price in parity with Botox.
- HC Wainwright says that the approval didn’t come as much of a surprise and raised the price target to $29 with a Buy rating.
- The big suspense for most investors was whether FDA would grant differentiated labeling in terms of duration because the neuromodulators currently in the market have labeled durations of 3 to 4 months.
- Including the full dataset will allow its reps to make various claims around durability, which should prove advantageous commercially.
- Price Action: RVNC shares are up 15% at $29.09 on the last check Friday.
Taking Care Of Cannabis Consumers, Federal Trade Commission Issues Refunds To CBD Buyers, Here’s Why
Recently, the Federal Trade Commission (FTC) announced that it will send payments to 576 consumers across the country who purchased 'deceptively marketed' cannabidiol (CBD) products from Arizona-based Kushly Industries LLC.
