RVNC - Earnings call transcript Q2 2018 | Revance Therapeutics, Inc.

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Operator

Welcome to the Revance Second Quarter 2018 Financial Results Conference Call. At this time, all participants are in a listen-only mode.

Following management’s prepared remarks, we will hold a Q&A session. [Operator Instructions].

As a reminder, this conference is being recorded today, August 2, 2018. turn Investor over for Relations to Senior Jeanie Revance. like of Director and would the to conference Herbert, I Corporate Communications Please go ahead.

Jeanie Herbert

Kevin. you, Thank

for President released Abhay Dan Aesthetics Zavodnick. Joining quarter Chief XX, Officer, Officer President the Cyril on the of Operating today & financial Chief Accounting Revance us Earlier XXXX. Officer, Commercial Chief Dr. and call and Principal Todd Executive and June today, Interim Browne; is Officer, results Allouche; Principal Joshi; Revance Financial Therapeutics, ended from and Officer

If you've Relations news can release distribution like company's you'd do to or www.revance.com. of you page added the not received at list, Investor this to website, be the the so on company's

filing; performance. product our are current candidates and current uncertainties statements, XXXX study not on future timing our and to and Phase including to and potential timing including, from expectations future statements statements involve business the regulatory benefits candidates related During including guidance; product the the financial our to, of BLA SAKURA but III and and prospects, Revance potential the course and inherently of and forward-looking in uncertainties. approval, regulatory conference limited product Revance's obtain These risks technologies; risks forward-looking this plan, development results ability including of company's the call, strategies and candidates, plans ASPEN based of clinical and and our goals; program; pre-commercialization make management III will significant

information, these uncertainties. that Form to from the XX-Q no May not reliance duty to forward-looking I on forward-looking statements SEC materially in Revance quarter place filed include those undertakes XXXX, in X, the and these as Our and on company results the anticipated changes update its our report timing forward-looking a events to turn differ on and XX, be section Dan in the over Browne. any Risk March such Factors of undue as result of or statements quarterly any as actual expectations. call titled statements Factors the statements from XXXX. cause the to future in new different factors of ended or in now could events with describes obligation could cautions you a will Dan? results risks result

Dan Browne

afternoon call. product Jeanie. and emerging neuromodulator Revance conference you biotechnology you, the ways Thank actively new our quarter Good aesthetic both pursuing and second in is medicine joining an neuroscience thank advance leader to for the category specialties.

neuromodulator for the enduring by expand new a differentiation and supported increase facial aesthetics therapeutics. in neuromodulator of remarkable Our by performance powered high deliver by data. has and This effect. to only duration long driven science to Revance's is competitive advantage and demand the rates and and response potential both is neuromodulator DaxibotulinumtoxinA Injection consistently significant distinctly RTXXX arena

two we with As to ASPEN regards will and and the currently Phase in II This cervical in pre-commercial additional we the III, phase in indications initiated our our pipeline at neuromodulator program two we Phase lines clinical June our Phase outlined therapeutic be Investor With second Phase year. indication. first an the of dystonia. glabellar progress broadened are our injectable Day II RTXXX have indications year April, this for entering trial next treatment the for in in III quarter, in

with of efficacy trials. program Disorders movement sustained Phase disorder. consists rates Movement Clinical of high long-lasting and in RTXXX involuntary Journal clinical the in published relief The III treating X muscle this debilitating response Practice, ASPEN demonstrated recently As

in primary the for First, II efficacy XX change be placebo-controlled our will trial a score, the we the trial. from a weeks. dose the patients high with dose. of followed in of baseline used a The TWSTRS-Total randomized and endpoint trial will double-blinded low Phase Post-treatment a maximum same be as

from Second, enroll an a of of trial to safety period. approximately dystonia trial trial approximately in XXX the be is trial XXXX, patients, injectable endpoints over of receiving pivotal XX-week treatments. observation and expected United interval. into expected with anticipate at majority safety with Each The are over of patients cycles toxin total Primary Current in long-term Canada for patients States, the to with significant trials botulinum enrolled will XXXX. conducted and label every treatment expected the be long-term open RTXXX the XX-week roll in the immunogenicity results safety multiple are pivotal after multiple multiple We administered trial. injections top-line sites cervical to the Europe. fully

patient for also a believe may deliver of could twice-yearly the improvement improved number prolonged significantly potential a administration, treatment, represent of RTXXX in muscle outcomes that movement patient RTXXX in With providing We meaningful disorders. advancement other symptoms.

of roles Millennium an as as of And Affairs, During leading and President, Global at the Caryn medical Vice several Dr. Aesthetics. previously Health Senior General Genentech, U.S in U.S. as Franchise Affairs position Office joined and Conor her Senior at Onyx, who from InterMune, General Medical also the executive Department the Vice quarter, where Regulatory Gallagher to the career, she made formerly as additions we President, management Allergan, Head Human and of Affairs. team, was our Pharmaceuticals. Services. legal we affairs us she joins and for at including Inspector Corporate Genentech director Secretary. Susanne Cytokinetics, was of Revance McDowell, Head. Caryn of We added served aesthetics. Early Regulatory held Conor in Susanne Counsel Counsel Fors welcomed

new and Phase IV and his Allergan, trials executed globally. supported tenure at During United XX-year and in he States designed multiple the product launches numerous clinical

experienced seasoned veteran biopharma and look to to our guide are teams. We and for leaders add management continue such pleased to

Accounting for experience. CFO Until both our and our Finance open to have an for Cyril through we're Officer. As Controller, We pleased global with executive recent in highlights. CFO Officer new have believe the in position, current Corporate complete active the are step Head capable transition. as These search place underway we strong, commercialization Principal we and a Financial and that a we Interim Allouche, hire, have finance of healthcare team to Principal

to the over call cover quarter to for Cyril and outlook turn me Cyril? financials let Now XXXX. second

Cyril Allouche

Thank and second with you, with million. Starting quarter our ended $XXX cash we the investments Dan. balance,

Our for of upfront million. the for was the second cash in $XXX,XXX $XX quarter payment million burn consisted biosimilar Revenue from program. quarter $XX the of XXXX second recognized the Mylan

today continue program. results. full recognizing We development in our we expect Today our we as financial we outlines advance XXXX biosimilar are to additional earnings future quarters revenue The issued release reiterating the guidance.

in XXXX continue We cash be to the to $XXX of expect to for million burn range $XXX the million.

Revance's fund XX, June into XX.X back I'll and as XXXX. with cash were of our that, operation turn shares to outstanding our expect to to continue We XXXX, approximately call And investments the Dan. million.

Dan Browne

of will X,XXX evaluated for plan using we plan XX and our the to Phase over additional quarter include results fourth III two North the than report best expect In results Cyril. SAKURA to America. of safety open label more prominent safety to SAKURA you, The from years data. overall lines. the many XXXX, share results report We sites patients of glabellar III study Thank for long-term efficacy at duration injectors in and

manufacturing for facility preparing strategically our U.S.-based invested Francisco area. in in San in BLA are have We CGMP XXXX and purpose-built, Bay filing the

significant to for filing, our labeling we discussion. documentation provide plan approach we As

that strength and clinical are you're and multifactorial endpoints; we labels, sponsor the label label on data predicate meaningfulness trial will marketplace physician physicians approved provide first following the year. similar prescriptive They product our will We FDA for earn the As in glabellar with product can running been of pricing in product duration labels to totality core Thus, for. precedent a allow go-to-market majority of us products; both elements: up FDA data; relevance approach. are ongoing just evidence, volume. and RTXXX involved of a six-month consumer and depend for Revance key targeted drug geographic for have lines and underway. consumers centers confident approvals models and planned key actual on and aesthetic approach innovative, at of the claim guidance, are and SAKURA The comprehensive to the the will first half launch aware, Todd highly development, and believe we developers FDA know XXXX. considerations the administer velocity the in a descriptive; team an strategy. his prespecified has a longing assembling commercialize aimed and lines the a twice extensive the based we frown be in interactions plan is research interactions; RTXXX and clear class make under it It that aesthetic results, of differentiation

to United in will RTXXX We launch ready velocity. with States be the

on plantar limb those addition Phase for first we fasciitis quarter, II patients. spasticity. upper provide SAKURA once more We'll detail also in and dose anticipated III fourth we In results the plan the initiate trials to to trials

treatment next-generation neuromodulator duration effect. the ahead, advantage tolerated, will our long-acting a a be will safe and and rates short-acting we As well high we response be long look believe significant of believe treatments. deliver Revance's We vis-à-vis

in addition reference long-acting through neuromodulator our BOTOX. to to short-acting biosimilar In product, participate a also RTXXX, the for to to with monetize we assets segment our agreement plan Mylan the

biosimilar of In the year the fact, latter pathway. on with meet to in part a Mylan-Revance this the team FDA plans

for forward and year. and we both have glabellar in RTXXX pipeline We first leader half in lines to potential XXXX. advance the milestones product We're rich as several about our excited aesthetic of the as launch in significant second our indications neuromodulation our a in look in therapeutic

of southern East our Midwest marketing terms the to fall, process and in of travel California, Coast. In planning the trips this the we're

for today. up I your Operator? like Let city. Jeanie catch you'd in when if know thank open us all up will joining we're that, for With questions. now you to it

Operator

Instructions]. [Operator

Flanders Our Dana with first from comes Sachs. Goldman question

Chris Staral

on Staral for Chris is Dana. This

into there's established CGRPs the on be to by sort standard I they of care now have obviously expansion. given would that been the on are will time the the decision debate migraines likely sort the of for So market take some know RTXXX clinic and label sort of of that in RTXXX

that be just being this it have and what of get on possible more. the see And label you right penetration with how would and that the then maybe to looking type confidence paradigm extrapolate market in CGRPs? it gives expansion one the the the integrated you in I So to you're treatment is on

Abhay Joshi

here. it. I'll Abhay is This Joshi take

ways to tried are this we think a before couple there of earlier. I answer So question

a be attractive migraine to both CGRPs, convenient all not economical. you therapeutics very As we also that to [indiscernible] for know, and always very Regards not creation know [indiscernible]. indication. are of really them aesthetics, and and They're happens not value

sub-Q, daily. are oral some IV some are delivered quarterly, So some are

doing So over be CGRPs and we pool, increase by all, what we both that and with will believe the each TOXINS other. coexisting that will patient

I here. Todd On and defer will to the margins, markets

Todd Zavodnick

This Todd is Zavodnick.

I I point, coexistence. you're the marketplace, Abhay's think to going think when to at a you is what see look

the migraine that other And a in there's you've But that think the there will made, at XX% XX whether to look over comes comments toxin shows in it episodic never compound years of when been the it's you there we and rate, to this space, new to seen class respond. neuromodulation you acute, migraines and I a patients this been be five think when be innovation. I that's that never -- know basically or a chronic see drugs, with growth one-size-fits-all have for conservative. X% the space next market that annual leadership will

that, can't to of experience I really to going forget going to together. access. going to class, see as And just products, see tangled angle with see exist Abhay come this is think And the have you're new you're is going going really these talked to entry that's care about patients but to managed you're to So a going see then what another them, you you're with CGRPs to in be I be that's these marketplace. access think and to country

be think the So I to going is coexistence. there's key takeaway

I data. at think we've looked the

next start it's migraine date I going we of compound to And when years. both a of lot are rates patients available. the to in the annual five to to neuromodulators get think see growth think XX you're conservative of for treated

Chris Staral

Got it.

you helpful. guys. one for very That's And more Okay. then

to lines. But touch know explicitly disclosed the haven't and data the the RTXXX how shown, that are claim? that it data going different shown other durability fair in all for know assume think consistent to And one-point have go the guys is just as is with endpoints I that you've glabellar of on that into you data So I points sort of can durability two-point data you well? you briefly maybe these you

Abhay Joshi

too. Sure. I'll that take one,

[indiscernible] two-point it's data. whether if Dan are key elements back isn't question go meaningful the -- and the So of one to is factors one-point. as multiple there And there mentioned, of clinically or here, factors to a the is

for conversion for have demonstrated grades severe two-point the mild grades we at that two for which two-point to beyond that composite primary So the as or even for the [indiscernible] the two-point have none endpoint, least conversion. you least know, have are two-point you

the to pretty much the as And if at data happens [indiscernible] on, current you both clinically and one-point able get with one-point label. that be our [indiscernible] conversion label, it's be conversion us look the data current two-point robust quite two-point product. give you So duration confidence from meaningful. hopefully and matches based on the predicate for we to shared a or to And beats we conversion will six-month earlier the

Operator

comes with Jaffray. Piper question David Amsellem next Our from

David Amsellem

what commercialization, dystonia? and at One couple does questions just area I And cervical wanted is second, is would in So down of a as up good as you kind about as on a in to in drill think cervical just a dystonia then, or do a obviously have the to the in underlying therapeutic you that. with look opportunity BOTOX of tied gateway therapeutic. sales this globally U.S. that sense

favorable So indications about X beyond in [indiscernible] ASPEN? kind that CNS to start migraine about, of you questions. [indiscernible] thinking you from do And sales organization get you One do think or of on is then indication? assuming that that, kind what data

Dan Browne

David, the for $XXX as largest million. market lower does, is It's of an movement. what stream believe as a than CD, of spasticity much gateway less the the -- But muscle a about we it's other limb for We validation indications that's see into therapeutic the neuromodulators, roughly it the is in is sponsors, that CD albeit revenue very -- platform. disease orphan spasticity. CD the as

which guides this larger to you TWSTRS that of lower compares limb well of spasticity as products a a are short-acting you, Scale, cervical subcomponents, the indications dystonia, You product three for the have really benchmark very into good how validated to totality the consistent you it the give and and on scale components, approved long-acting allows other the and limb. upper

you So mentioned, label have that get it, it as you done. we see really this, gateway like a other on then expand sponsors as much and

the or far be very the specialty organization, core will point positions. half neuroscience States, much the point. the a it's size call As neurology aesthetic roughly as United call of specialty in It

the more Todd, can would look information we so it that here Outside around And United give U.S., point to States. we think build is on like the call a you we in that? partner. would that to

Todd Zavodnick

XXXX Dan Phase it's of covered the and Again, call. we kind ASPEN, the opened the III clinical when trial,

a launch I to have just with think would lot and as think on about it, about look, three runway how of it share we in and here velocity think buckets. I we product you we

are which you think your providers, the think neurology I is mainly want who physiatrists to your and injecting TOXINS. about

really access then managed a the about think think want got you And collective to You within, very which the really CD and to this patients about group. you've targeted country the and are patients in small care.

safety pharmacoeconomic time to perspective for understanding into we groups, reach from in United but to I the three and these dollar a XXXX, outcomes want things most but focusing all their of from what very perspective, to really is that's in So doing in they managed in important of and comfortable on which now which that the think focus the And reimbursement really and see really points and and only efficacy, we these and States, is put you spending see positive right have access. a your feel XXXX perspective XX% care opportunity can they patients. not and we're financial time want in

So how start it. we'll that's

Operator

with question Lugo comes next William from Blair. Our Tim

Tim Lugo

how the from of trial open in you out I when from seen data trial, what the label expect and much terms shift all profile of know in do an to QX the currently should With SAKURA II? duration safety? III in And effect being the product at and we've comes market

Abhay Joshi

to about SAKURA number an one, is, safety multiple, trial. again Joshi but open to over And With here. It's expect we have cycles. you treatment we basically What III think X,XXX approval single, trial. need know, to it's -- for patients. there open Because safety label in program, see cycles. label Abhay as I regards So an Phase multiple not are

So we'll secondly, patients. have the of we treatment data, additional number we the a additional mine also of efficacy certain get data into And for peek get cycles three the as and an and safety additional product.

end So of the that, once have we the toward with it share you, year. we'll

Dan Browne

[indiscernible]. allows we when the integrity the data potentially actual Even blinded open is seen we it have label other report as But saw not think as that really said, we what of as, we confirm it's any trials, us study, set efficacy, capture data of treat Abhay those well. as efficacy it well what because in we to a

was original its well. and intent to efficacy will be report but there So opportunities we safety, think on duration, as

Tim Lugo

And it the in Okay. pricing space therapeutic like differentiate in wanting the Todd, the models markets. work in have past and the companies know aesthetic an already doing talked and to other I into some there. Understood. you're world sounds looking between ideal about

Given are scratch, at able least all extent, you from restart in to you bit at be to that those start almost or to differentiate a markets? some will able pricing

Dan Browne

chronic more and think the treatment, the those Therapeutics that continued Tim, their got belief debilitating disease is capture important. for and lives. therapeutic who've to But differentiation to side, the on patients therapeutic, subject at in lot the and a there's treating neuromodulator probably double-digits. value continue are Dan. truly market, of rest of this XX% segments, roughly is is grow We our aesthetics both

fit only therapeutic and in patients want the RTXXX physicians, patient. data. have overseas. between. at So at but have and to smart the we in share And We've whether that's aesthetics to And pricing, make pricing do think to is thoughtful, we U.S. decision on a fundamentally, trends decision intended both providers. in really the XX months got we of we that we price end the But the work or we maximize the have. want line to a look at the physician, to price once to to to not RTXXX we'll to the It's pricing, the do or a in Todd's across price maximize threshold value price analysis I make look

Todd Zavodnick

therapeutically, the a and going with you current is is what strong marketplace the to coming the XX growing growth marketplace thing only value and the price the from playing key of process that's the just some with And at thing the that's entrants and other where success really and you keep to do I think double-digit months, competitors the to in we the this in games when this the have, see Tim, next success flat today takeaway the in innovation. in need and different see that innovation look just only what would is the drives to be are market I innovation. very future. units only be degradation market really what out to aesthetically of And with is one we not neuromodulation we that going to and the you some bringing see we're add

as key, So be look that's going at the it. to we

Operator

Louise question comes next Chen from with Cantor. Our

Louise Chen

I few had a here.

highlighted new on especially you've hires a you've that the months, side. of made commercial in So the recent lot significant

looking priorities with expecting aesthetic that's RTXXX launch, ways just and for Or a around the team? the a to and indications? medical to you your yet, something between And not? market and focus plan Why? question I had And what Is commercial Are have market know? on will to for here, any your to strategy? significant a the launch respect for then clear between on then pricing product be follow-up marketing, for now And CFO last if what also not your you'd you how like going you as your when you a are a what time are product. your lines marketing earlier. parity So aesthetics? digital And then question some when are to innovative that? pricing, commercial I you And why

Dan Browne

is this Louise, Dan.

we build a States We're As to who think adding pleased to in remarks, in I initially the expertise has therapeutic identify an will commercialization that the mentioned going instrumental search opening on outside launch the the pipeline aesthetics have side. underway. candidate experience, we're this and be experience, the search. United the with both out We truly active global United we can management's so in in and States but that product

and for place. we'll with we the a areas by and expect around really think and in feel I corporate we that to sooner. focused to finance in and team really the got U.S. Affairs that how strong team time that financial hands-on in on a understand add building you year-end, we and part it's product place, But the report the using statements most development, management expertise very that's very our execution, But interim, I in hopefully the label. team to the Medical the So as we've sure, confident development, for scale think want executive think on business perspective, is in potentially infrastructure, execution expand the to that business. your accurately in From the leadership launching vertical

innovation neuromodulator on that we the but in we think in want got and have initially in pipeline only and aesthetics broadening the into several therapeutics. decades, in stay first moving laser-focused out We to

have us unmet greatest identifying And that at looking the that target how and look Affairs to so RTXXX the really needs. solves and areas Medical allows needs those at your

Todd Zavodnick

have with I innovation. And seen at an new have that's Louise, back share to question our back going that comments it comment just and before. an again on the going market let up I the Analyst bring was of hasn't to me we -- the we made that's some something Day you And think, previous attribute commercially to

physicians that's or their They longer, It's longer survey, done we three is one external, largest category. treatment. something and month, consumers two of lasts neuromodulation aesthetics whether within lasts from So want months. every months, XX% it the double-digits. than current pretty something that whether We know internal much that by want that XX%, growing was know

the share foundation So added up build of where and kind been sales, from. I backgrounds standpoint. That's commercial and starting where commercial at, digital within we're marketing, operations, when we of people from our really a we'll that's built really have really

at you the it's accounts that over to United this interesting point States that have in neuromodulators. think I XX,XXX XX,XXX injecting are

You have know into are close that And as going the and to we're and in in going to this people it. thoughtful a to on targeted We just approach the target we how product, have probably be injecting XX,XXX as to want way add then ready We'll is. at fillers. where XXXX, be far point, honing but XXXX at we're launch. people we'll Revance

I that are that be to RTXXX they're use to get product what with going other not a physicians get they're results from this our duration you're -- to to able able feel going is brands. to to going product think to And see comfortable get. to us going the with So that have is be we

So going be just magic we're we're targeted. not be to very to going everybody; one bullet. not just going It's to to be everything

plan. with think approach be as I a won't the of we commercial of well sales, all that straight sort it will as strategies to-date various So operation you why that's part release all within digital I share of marketing,

Louise Chen

about what on Do cosmetic parity pricing? commentary And any the between have pricing versus you the aesthetic?

Dan Browne

maximizes And got and to opportunity propositions we'll with time differently, of quantitative both. select to value as point and don't qualitative lot a that got we've We in that see have price physicians, to make this At decision. we the parity. We've do the work a patients. see

payers, the I it's reimbursement think a And physician, side, and on we've resources therapeutic it. time the as to of a And And spent of As I product. we'll got pricing thoughtful as price make side understanding mentioned, the price on decision but the this to want not well. how price well. lot we to only we've patient, in payer

Operator

next Douglas Tsao Our comes question with from Barclays.

Douglas Tsao

ask How the glabellar to And you injectors for offer or given terms some of of development regions have incremental beyond will you lines. in product RTXXX, promote to sort able the product, of Just is and about face? in that is obviously your indications when have reason some the you other aesthetics do other of of and much the there different just just the characteristics think I training value value for the of glabellar of potential sort see lines? being some

Dan Browne

a I Affairs this Doug, Conor various can team indications a aesthetic be look will Medical exceedingly face, will helpful, is our somebody priorities, how time by our we how time how used do the and are because will understand the be how drug we will will data the where think expand be. the we the and what Gallagher generate over so at like that label launch practice, that together where leading on priorities he we put understand and

sponsors expand go the several have opportunity performs. of glabellar the face. thoughtfully at drug need will done, to potential on this the based other areas as label we is one And how greatest and on just lines So indications of an

facial but and lines glabellar look forehead it's at other about and line canthal think So in differentiation we only in a of the data face. don't to Affairs not glabellar lateral in lines using Medical your aesthetics. actually drug; generating But it's and that areas lines, it's

Operator

Our question next from comes John SunTrust. with Boris

John Boris

there notably, BLA. important Dan, do equation, up for second the to event the for with you explore an you the Obviously, one different why therapeutic question filing. of just side coming sides? just aesthetics, both strategies on separate therapeutics, has one using aesthetics for two wouldn't and possibly any with is and The pricing reason for on trademarks, possibly how doesn't. But the that then the ROI some third you and How are on along? about of with the obviously two question hurdles, indications? coming technical two one go to the migraine. And to significant Both that ROI have just versus do other some fasciitis all think plantar has have into but those elements areas; the has competition most do

Dan Browne

start let therapeutics. and aesthetics of sort me John, separation the between with

pricing. it's We those, separate ways to at have look at not been and just strategies. We'll looking different

on We'll at going considerations at look how therapeutics. U.S. look U.S. differences. and and differences. We'll regulatory aesthetics the at trademarks. Some look in We're we differentiate distinguish will trademark how outside But pricing. comprehensively at then to allays do [indiscernible] we'll the We'll look look from the some be products at we

that's we progress. about those to understand that But again so ability to generate good the create between once very data how and And two differentiation. in feel difference work we our

dedicated SAKURA it think also in to little As it's facility, bit to like keeping BLA the very wrapping We discipline pharmaceutical having execution. the drug critical That on on drug want that the clinical BLA, and data. a top of on filing, intense of group up both relates as well It's is Louise's III analytics. part It's that as stay Abhay's data. focused a I on a that of substance and question. reporting active and the prize CMC eye product,

pleased So United first the regulators infrastructure, We're I in XXXX, in States. it's we've file think scale. half here facility only the a as we get -- with the ready work working not select very with commercial of I agent been to think ability the to at our

a of the to it to time long think that will and XXXX, exceedingly and done we've in process in half drug period time will position be I BLA. first that in FDA through well a accept a us that compelling XXXX. put the one on And go file hopefully the of us for allows launch review

I we said grow can investment ultimately the that get about think a that PF we largest we therapeutic of upper the indications we it second think believe have muscle of that you unique done one on approved relates RTXXX limb skeletal. billion opportunities it show is been very will to million. on CD the PF grow. opportunities following a a and don't grow the complementary to RTXXX limb it and look muscular to $X.X PF. actually of $XXX very past. lower the the where roughly muscular spasticity, to the in migraine, neuromodulators. to to we it As indication. market and continuing want of that. bifurcates number the Both TOXINS what at always as in drug We TOXINS We about that necessarily opportunities long-acting skeletal to don't see of and movement can use at as return return track That's We very you expand PF, in as today; into is migraine short-acting one. use of think attractive opens on between believe it has have investment. up If Having just a data needs follow that, It's the are

and think into shortage pain was show muscles indications. validating those considerations. get dose, expand several for John, success glabellar a everyone to in a we'll you approved. other from the I in this for after following lines, this know, unique been indications, decades, no that's time. we us XXXX form for And the long both to movement first pipeline There's critical in XXXX space neuromodulator period launching of low evasive as really on very was to put of is for as the So position small the muscles, in large the what high then drug dose

this looking treatment than a what to is have at once potentially performance, more and opportunity better better So patients different they've had pharmacoeconomics outcomes, providing before. an better again, about

position I So operandi that's the date and those that generated indications. of to been based data on with each product starts kind all modus our in that's data, that think of been this to

Operator

Bill Cowen. next [ph] Vigin Our with question comes from

Unidentified Analyst

In once big exists? the point? that deal this a add would that fillers maybe just to lines sales -- to to out of glabellar the eventual And about for into then thinking how take do filling looking are you it commercialization add of the sort bag, particular, opportunities have is of how sort and fold possibly there Revance? what at ahead that to force So at commoditized

Dan Browne

it We'll two answer ways.

one. and I tag sort of on will team this think I Todd

think I reject the we this of to thesis products you've suite have in the bag. got full

I think better providing about It's outcome. about innovation. this is a

group it's that differentiated side. the And that more very and If first the at. Having commercialization projections and have said products could a role with potentially to lift RTXXX, neuromodulator. complementary something there that so I play products a looking or take active us strategy RTXXX. aesthetics portfolio we for that, a revenue look at opportunity side development have accelerate an foremost, on your to a complementary the there part other or of we allow in starts, business that both And are think a product the sell to would therapeutic is help as

about If bunch in the you other least have aesthetic the innovation starting because not business. companies we the It's performance. is in strategy, a products bag of to and a just just want that that at in compete, you put a and bag of products bunch think and think that

Todd Zavodnick

the I a to think about you as of things would add just think space. through couple

I within just think injectables. whether -- to-date let's stay

and understand that neuromodulators it's at a isn't look massive today. really of fillers, lot there dermal you differentiation important If to

have neuromodulations, smaller Within the spread have space, and a have well. you some competition. the in market dermal it you And as really filler you leader

I day that is thing over The and drives that think thing the say space end the of innovation. -- the at it the I'll over.

really executed differentiation. and well, they work bundles or credit, But to-date, deserve So them. worked absolutely the no lot of no have a they companies innovation there's have that when

provide in an efficacy And other you so can't to is attribute, going that get in longevity, products. RTXXX attributes and just safety,

that's innovation. on first, So

to have of half of key go to look that space consumer filler look at it's options, they you Dan's one within dermal units attribute got the everything, it's for almost units physician the in up have that to to duration you that at market duration, and their think options. dermal physician really I have look to the and longevity, to almost dermal surgical some to the dermal have right? you today, takes XX%, provides. would space, I space some is XX% fillers, to back this about the And the at patient topical the comment, fillers. fillers look talk that and of You is at the

with so RTXXX, they really think want it that's in but coming alone. have twice-a-year, tremendous going about thinking Dan's to of stands this come in us the that have with know look, really to So want really not ability they We'll sort it. bring that's outcomes of we and are innovation many to space, this times. innovation. we're Because want And how we patients I to its they why, believe on to point, attributes

Operator

Our Mizuho. with Yang next question from comes Difei

Difei Yang

I'm indication brought program. looking expansion? have if Because there fasciitis, are could indications On the any things have a at. expecting plantar a lot I additional you applications months just in missed you give to into apologize should be the we see development. would wondering us an coming where XX expectations couple. an Then be of if additional update are? we update on Just should secondarily, I might on

Dan Browne

It extraordinary, and Difei, goes Dan. this be probably of inbound potency, for that can credit so deserves across neuromodulator. these its inquiry think neuromodulators, despite I don't get leader different market where about showing and There's from physician is indications. we of a not indication the week a a effectively truly is a many by an used lot another how safely

the those So challenge, move that you're into one to wait. development label, is need to and just that expand the to decide clinical which going to try versus will

for us lines muscle I glabellar and neuromodulator: indications to focus wanted two largest we think for is on movement. the

that target or neuromodulators wanted that dosing to focus regimen, a tolerability also case we the migraine. growth potentially think I in the profile and with product the can different highest prove and would it of the on

to do could into CGRPs together. treatment. from that work If tolerable, and believe reinforcing more point, you and year attractive you and We move can two that could be more that Abhay's a something to, neuromodulators treatments bringing an cohabitate patients was X-cycle would that have of

as one-size-fits-all. there's think opinion leaders, a not we talk I to key

of population. CGRPs and different that be attractive used and have patient you'll have sort profiles, on they'll the potentially of neuromodulators, together You'll based

we're the We 'XX out take but pipeline. PF, that the want also approved, Abhay, think out appropriately to be Specific on beginning do that largest we So moved for focused lines on to neuroscience us BLA is you to indications. -- think build one? the we focused migraine that to getting to glabellar

Abhay Joshi

Absolutely.

PF, mentioned fourth enrollment on to of the quarter initiate a of So that we Dan in XXXX. plan trial

So we was Because have multiple three so. the XXXX. the product that an we trial just about And this the results months. And times next five about and mentioned earlier earlier in talked how [indiscernible] differentiates as from earlier of to hopefully about will why duration trial. or months, had trial

to have between Here XX we and months. We plan about X the talked endpoint.

at endpoint static a had eight weeks. we Before,

plan the average we Here of over have patient five to duration. reporting an and days

surface we talked also [indiscernible]. are we And two of previous not doses, single trial -- having also calf have planning and about We dose. the a injection at plantar injection in location, had terms the to in the

initiate all correct. positioned be we'll That's in that of XQ take enrollment all the changes, in to fourth will that different quarter in then implement XXXX. well totality and the -- you that if So be

Operator

gentlemen, today's and Ladies call. does this end

disconnect, may all You and wonderful day. have a

Revance Therapeutics (RVNC) 4 Aug 182018 Q2 Earnings call transcript