RVNC - Earnings call transcript Q2 2019 | Revance Therapeutics, Inc.

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Operator

Welcome to the Revance Therapeutics Second Quarter 2019 Financial Results and Corporate Update Conference Call. [Operator Instructions] As a reminder, this call is being recorded today, August 5, 2019. I would like to turn the conference call over to Jeanie Herbert, Senior Director of Investor Relations and Corporate Communications for Revance. Please go ahead.

Jeanie Herbert

Thank you, Michelle.

call Dan Revance Toby Browne; Operating Dr. the Chief President Schilke; on Officer, Officer, Executive Chief us today is from and Chief Joining Financial Officer, Sjuts. of and Abhay Commercial, and Head Therapeutics, Joshi; Dustin Aesthetics

June Earlier today, Revance financial results XX, quarter for XXXX. the released ended

be have receive to found future Relations go the to you releases, simply this not section release distribution Investor website, www.revance.com. be received please at or If the which of would company's you news like added to can Revance's list to

this call, management will guidance. on and uncertainties. based risks During related These plans; our and forward-looking to development current launch company's inherently potential and involve the significant and strategies product and clinical technologies. make forward-looking results planned product statements statements conference precommercialization and and expectations statements, operations; candidates, business are Revance's including XXXX The anticipated of financial candidates

a those and materially such to Our forward-looking events could cause could from actual differ be as of the describes SEC of results different results these anticipated in the XXXX. timing statements March the Factors that company result from XXXX, these ended and statements the Form with uncertainties. in XX-Q report X, in include for quarter Factors, section titled, filed XX, as on our factors May quarterly the Risk on risks

information, over duty new you turn the cautions of now to obligation or Browne. update expectations. to no events forward-looking not a With Dan Dan? any in undertakes result its Revance to statements I'll and place on any or reliance call statements that, forward-looking as changes undue future

Daniel Browne

developments neuromodulators treatment call. our afternoon, for from Revance's a Good and you to pioneering indications for Jeanie. a therapeutic aesthetic joining you, potential to second prospective BOTOX. quarter Thank thank long-lasting XXXX conference in biosimilar new and

indication In patients year for will lasting, response aesthetic results. DAXI, to offering provide long. line and rates lead frown DAXI lines. is with markets providing long-lasting the year neuromodulators, all require by therapeutic a expected just or disruptive DaxibotulinumtoxinA patients Injection, for per the physicians in correction treatments and with aesthetic to Our and be largest neuromodulator candidate, glabellar natural-looking exceptional X

first experience, transform quickly bar could a approval the XXXX. a from by to patient be the Revance in for neuromodulator our anticipate plans raising expected We what followed today. commercial treatment DAXI, from launch

we X As the areas second year, business. in we make progress enter all half our to the of of excellent continue

on followed launch aesthetics, near-term In our is both track will submit in in dynamic compared obtaining main BLA fall offerings. short-acting first XX- a by that for We're a glabellar XXXX we today's the configurations, to approval vial XXX-unit focus differentiated DAXI with believe this lines. to and neuromodulator truly be

have To that the announce substantiate journals. accepted I'm for trial of in SAKURA X been issues prestigious to that Revance fact, excited results upcoming publication

widely-read or dermatology of of journal DAXI We securable line validates JAAD, peer-reviewed the the the Upon aesthetic Journal, believe of for Academy become Blue generated trial the in of an Dermatology most our robustness of the journal this published First, publication, JAAD. glabellar American unprecedented part the world. results the and elite in papers will group results. significance

surgery. areas published Society American data the of publication the new reference of addition, all Plastic be and is journal will plastics for occurred this of and in and medical official reconstructive procedures In peer-reviewed and This the for techniques also Surgeons surgery. plastic latest reconstructive

online publication year. this expect We later

strong to sessions for leaders launch. prior in and plastic aesthetics, We major in well DAXI to on clinical the awareness the of poster at conferences as person build podium dermatology surgery results power thought among the continue DAXI to share and as all

facial for years the in as They professionals to efforts commercialization. accelerate experience aesthetic towards regulatory have commitment affairs. experienced of position will we progress to passion and aesthetic industry. to continue least in serve and sales, an team XX at medical efforts, In support of the strong our our we Many marketing, lead commercialization our disrupt us well market aesthetics, and DAXI which have build

of have enrollment and II crow's X in Phase expect our progress, the trial we announce complete by of our to this completed terms pleased end Phase in study that to for clinical In enrollment headlines I'm II month. feet

the X strategically and across how They comprehensive facial of are DAXI they aesthetics. important site These apply to potential Face. as dosing studies DAXI pieces injection the in help are Upper determine to will program the a final maximize of best

company. with brings continued contribution tremendous us acquisitions. you've with to announcement look Director, recently, neuromodulators brand strengthening will July, we support in As Directors the committee. another XX in Beraud, member structuring, strategy gear beauty We of pleased of standard truly building and Jill in mergers our and Chris He Jill our an the has To the Ernst brand brands, seen extensive adviser made efforts, years more new offering. forward the is and to Young fashion, who of Chris new and experience in her chair June consumer luxury, growth for progress capital & we've active followed Jill's in are helping than we up addition Nolet. forge board experience partner. business and premium in our Board first former as we welcome licensing

directors. members Chris now strong, X We to are of to Jill board are independent our which and that thrilled is X welcome

Turning therapeutic efforts. to our

pipeline the We the continue a larger billion to robust build neuromodulator therapeutics market. of $X.X segment clinical in development

for need for deep and compiled of treatment suggests the research definitely an the finding treatments that both recently for complied unmet surrounding there each completed in profound DAXI phase indication a The opportunity of surrounding insights a an creates is value Revance provide to project therapeutic payers. current duration of -- the shift intended providers We for first patterns. data franchise.

the provider about price not current reinforced DAXI opportunities to the payer the to XX% for DAXI, side, Furthermore, the treatment. our end-market of become even neuromodulators. at premium research for excitement a toxin on market restrict therapeutic On botulinum DAXI. side, interviewed the has potential suggest first-line large that results the would utilization This

which terms is plan we pipeline. track on our line In release in dystonia, XXXX. of top III second cervical to our of therapeutic Phase the for trial Enrollment half for results in

upper II enrollment patients XXXX. trial expected the continues now half Phase with in limb to of full Our first spasticity enroll

patient well this fasciitis Phase For we top the underway, plantar our second for enrollment plan in and trial, data XXXX. trial is II to half announce of line

XXXX briefly from Advisory to like minutes biosimilar We also Initial the program. Meeting. Biosimilar received formal We'd mention FDA to BOTOX the the February on the

we a and details we'll biosimilar on Mylan proceed. this with more been on development that said we our viable. in has the with potential asset last share valuable our path, conversations Revance discussions encouraging As since got call, is for onabotulinumtoxinA as feedback pathway Mylan on

our highlights. covers That recent

financial turn Now before results. to I'll the few to closing our comments second Afterwards, summarize Toby let begin me quarter have we today's Q&A a call session. over Toby?

Tobin Schilke

quarter cash, collaboration no portion and payment the for the under Thank short-term XXXX revenue we represented recognized revenue from second quarter. earned There you, equivalents was Starting license balance, and Dan. our $XXX.X revenue of recognized the Mylan in the biosimilar from cash investment ended upfront with million. with agreement. $XX the second The million

full, note, I we are we the it XXXX was issued And during was our compensation, in so on go excluding million. release reiterating this guidance. and won't the financial stock-based results Our earnings through $XX.X today The million. I OpEx outlines will details our depreciation $XX.X quarter call.

of million expense, million. GAAP stock-based $XXX to non-GAAP and XXXX the which expense operating expects in to be excludes in $XXX to compensation million million range be range of $XXX depreciation Revance $XXX operating and the to

of anticipated extend cash We XXXX to runway approval the through expect DAXI and glabellar lines. our in

$XX.X or that, Revance's to $XX Finally, shares diluted on I outstanding And fully the June XX, of as million basis. million turn call were back XXXX a will approximately Dan. with

Daniel Browne

our and of clinical the in This our enrollment XXXX. clinical year-end in now in progress potentially number value-creating and events development Between to up us With both should program our for we springboard that, make trials in BLA fall, are the through open and all now Thank significant on and call submission and you, a has advance our for partnership Toby. BLA Revance questions. aesthetics to continued of track year-end, opportunities. therapeutics. complete substantive I'll on DAXI for our nearly submit

Operator

with the Annabel first Our comes Samimy question Instructions] [Operator from Stifel. line of

Annabel Samimy

the progress. few Congratulations questions. on A

want a was launched they've excitement minimal Jeuveau in differentiation. been just of generate of there first, the seems It lot like able sense to So marketplace. get a with for to the product

what their seeing of the on experience, strategy? hearing, learning anything that from based you're your you are pricing, about you're positioning might inform what So market elasticity more and

the haven't seen incremental journal, AAD before? publication that learn is any that data we we there just are on question expect you Second may in the points

if CGRP forward And I you've indication? migraine And I comfort you to with And then greater on or I third full market any greater update forward to if year-plus, guess, question. move it's that Any just want that dynamics with the know moving impetus development? we're give about now. seen a may, a

Daniel Browne

the different. and the for to to Jeuveau and speak I can as the we're can't consumers, well we level we see to specifics high think opinion think are a something this space, physicians signal as continuing I grow, desire continues to on really leaders their key feedback say, the Annabel, and market consumers from based just what launch, in of as physicians but very trying

a short-acting, you long-acting think really from current formulation, segment, know, and differentiated I year of a as a for X we're differentiated that, for segment based the provide us on the first correction treatments to for less. trying or place the time, per both short-acting product annualized moves

So really resonating. we that's think

experience. really at the as NestlÃ©-Galderma gateway, broadly, equity, it transaction the as see Allergan-AbbVie as And does first with going and differentiated product us more well as as look view, validate in neuromodulators private growth think the for the time, the portfolio. new to part you key I that, our transaction of are extraordinary a patients our physicians anesthetics think, provides I for

both just to publication As I of And really think in JAAD. the excited. we're

this be It's deserves in This I a think the points credit. There's of both journal, journals. But but is lot such of any manuscripts that really results, and see think aesthetic it's in really in I those the team journal. so review peer publication. won't new reflects think, science, that won't new clinical data new you I process prestigious unprecedented in data. there few a validation, verification the that materially it is

in migraine this think DAXI look Relative is still use opportunity we think of the opportunity, I this as continue we particular to to an indication. at that the

designs. We at This a pathology. complicated is trial looking different are

we're protocol, As the before. used the the look expect than kind would clinical XXXX have we'll when existing trial at neuromodulators, the we But at continued use growth. the with materially first of start, continuing half have that's look to something of the not a start And until been results CGRPs do and soonest. we that different of see to continue really, to we neuromodulators at study way the

Operator

the line Cowen & from comes question of Ken And Cacciatore next our with Company.

Ken Cacciatore

a XX% still they're been few with it, Just and Allergan-AbbVie. to around talking you management expecting Dan, about years alluded share. maintain in BOTOX from to about a AbbVie question, that XXXX, has suggesting now,

So maybe long-acting, share they're actually kind of used. be XX% sounds erosion and like XX% it which primarily would to the seeding to

launch hopefully you talk in conversion? what we expand as expansion maybe that could So the share type hit You start share help can think about like those aren't the market market you that the yours as a product few about and you why yet, bit help for getting explain maybe about over the on do you about a little And opportunity, gains think market excited versus market. but next years? of

far -- just talk this you lastly, reps bit to can you position think the away, do And it's product marketplace. would how still sales about appropriately but a little many need then you in

Daniel Browne

be year. view growth questions. that a our right? think We entrants. new for Ken, this Thank the think thanks growth, to This segment. is I transaction next saw you're DAXI to the will year. see reflects going one is really And AbbVie-Allergan continue I with Look, introduced

to perspective, be And penetration different treatments a space science the pie you're And so see cut is, for from to think a matter protected is a pie. market per ends think think, approach experience correction materially will going an to of X Look, this with which I pie way much this is we kind still for share technology no the we've at grow. there this larger X around in expanding. that us, from out of up where continue high will growth data, going think we're us I you this in And existing the with being, regardless single-digit innovation, what frequent This cannibalization than where resonates said is annualized in competitively I or be pie the I of way. in going And strategically, we're year groups. there from space.

in They've something per with to will and aesthetics, They're today. them less patients comfortable of to of will at they their X upgrading year neuromodulators. per be looking Some that's or facial sort integrated be their into X into those year. existing neuromodulators treatment the Xx

I novo have may patients, seen the on segment Xx per having they where patients a take had pillars, we've think they're lot that the a de year didn't whatever dermatologist's is other in the growth reason, procedures to treatment. of other want for office

looked at they've so And else. something

I a the they at think you experience don't daily physician's have life. of And now have data, that you to And They come what natural SAKURA by they look. to I and trial don't trial, and and varied look at the appointment, de get look with office. patients. that park it when novo back they're and it And but number think in a stay an seeing at large have the is, to integrates compliance. from how their

seeing this them to of going a think to sizable at intervals, not experience. have a the is response and they is just to going We what And all look. But seeing of get the we're going a you're X months, any space. driver natural to not at patients. better I think interval, we're be all in this that very And result, in realize the combination you're We higher attractive. get think growth those we aesthetics, be as then allows DAXI with but at practice a just rates

also, And say the I Ken, just therapeutic on side. would

underway, I indications X in year trials other we're could even touch what research that only and the the that to in existing We're qualitative think seeing in utilization, and treatments the we're script resonate. it's are try that both providers for even, that quantitative not payers upon that seeing neuromodulators. seeing, per seeing but and

for outcome engine of and a neuromodulators really combination now, disease debilitating the benefit outcome, a aesthetics to today. the have that you've got the who've efficacy becomes patients pharmacoeconomic they seen they've first better think that having as clinically, we really that drive both so that with product growth better And time, therapeutics up got continued the conditions to on till extend payers, and patient-reported a

sales still to Relative reps, look a at that. we're taking

what most we guidance We you as of size that. finished launch labeling everything to And to number. you see closer exactly specific that haven't something decided the I But get be today in selling modeled the up than think more what we think we've on approval, work, our recent specific from able larger the back to I we'll to come with organization.

Operator

next question with Guggenheim. Fernandez from our the of comes Seamus line And

Seamus Fernandez

questions. Two

just differentiated and likely the far give at general to that SAKURA of so on sets. presented in of First, guys see already sense data we've you we're what kind be from what could journals, would you've a us data from that conferences different the there the the seen then

anything different And see among journal X we there's articles. if the wondering that see change. between and Just we might X-point if the might

taken Dan, non-dilutive on execute you the sense, just financing the you go-forward opportunities guys about are second so, how basis? opportunities do in past. a And if to give question, financing And a Can you us see guys you've that? thinking then non-dilutive

Daniel Browne

Yes, all good questions.

Let me publications journal the take first.

is tolerability safety. set of of I see the to publications with we've you're been what the aesthetics. first ever largest what in for and is really pleased the across going think the I facial foremost And data use think those drug,

see neuromodulators reported profile, So new with you're what's before. nothing going strong very to a than safety been

well, almost X all from we patients. followed other rates of the only which as see the efficacy response important, at going follow dial you're authorities twice which to will weeks it way the days. And weeks -- patients the to as is not the XX of date. the but have regulatory any to up XX other the long Remember, our X-point clinicians, to endpoint composite as to we any sponsors to label. into that most see You're on primary going The the

most the existing endpoint for matters to helped that's the we because see to most is journal to the endpoint, an around regulatory that they what's important none consumers. and mild I that's the They really most like labeling lines. and I at X when to you'll treatment. And "I have important the this I the which that's on the share not after or treatment keep endpoint long to treatment the authorities, We're whether predicate That's The they mild?" can going important, for it's mild. is none because focus for primary consumers them. market get none the manuscripts only in least strongest and months. that neuromodulators, think one X back go into it's sort say, their efficacy assessment position patients think most for How physician's go have the repeat office glabellar dictate data don't of the

taken unprecedented beyond population a neuromodulators X month. This current now in very sixth months months or is X goes really to the from that how large X we've

a those the And surgery think well so science, the journal I in as having plastic other robustness of like the the JAAD reflect journal as data.

on -- a opportunity. there the side. We Mylan biosimilar that's company innovative think to we very that's with space. opportunities And the We the to think based we've non-dilutive our think allow areas on in on more more We the be short-acting successful and core that high that market. biosimilar and passionate we've science been better business profile, a having generated. on the the to us partnering, our unique to opportunity on Relative focused with served business very see transactions of build and the question is value run think and strength the very and a data generic in continue will U.S. non-dilutive development I

an it to a poised going to. geographic in in get Fosun reflects opportunity for China, that I think we're not long-term growth area that's to relative

to that other will we think to coming those that, opportunities as and do to other indications back So reporting opportunities continue we will us those platform continue a at to to highlights progress. that look in forward monetize development geographies, enable I and discussions other those technology look we and have the and business

Operator

David the Piper question Jaffray. next from Amsellem of our line comes And with

David Amsellem

Just a couple.

of the process your a First, discount the flexible you there? size? memory vial again, your specifically, your understand, process Help more incorporated to refresh commercially. you the that how our see way be to can second of Is wanted sense thought development being regarding And -- us regarding just I of different strategy? your thought sizes get volume

And then protocol. experimenting heard secondly, on the anecdotally We've migraine. leaders specialists, the with of the opinion injection BOTOX migraine

with mind in liberties frequency that so mind, injection that -- you kind I'm of regimen, with this of your regimen about -- So how different or guess, of for taking may frequency actual can change but so talk with number I not DAXI. visits injections much in a

So help us well. understand to that as

Daniel Browne

some the -- get biocides. a I try I'll second David, to think, thereof, primary there's relative of number to increments to questions and

is be XX to development, units sort to single-use, sort of about us, used as clinical face. we on that on the think, workhorse a we that. we'll And look was the it XXX where the going for XXX therapeutic think the Keep side, of look mind, units giving of in our as the they applications. whether have at will other continuum at with optionality is physicians I drug recognize units, a additional reflect in always work because it areas in

use prepare And how drug a and use (inaudible) the wanted commercial sort a depending how they're start the we basis. part on allows how we physicians strategy the also have sample our business. of drug as looking that at commercialization day, patient of it into it on basis, our how the of to the of on, so treatment per per optionality syringes we at their And on on

us So short it a to an very guided was of I part important commercialization delay. think the that taking

BLA both subsequent require and filing at So same the we time not into can those the amendments. have of

I think migraine opportunity. relative to the

upon that you looking got which opportunity you we're number I mentioned, efficacy the of think an site but also injections, the things X have injection, one neuromodulators. at: of of you've approve to are

not where projected. other have we I space, efficacious been the would as hoped as or maybe in chronic or neuromodulators what the only potentially but was have think maybe migraine indications either CGRPs not

an what's indication, key you're So whether strategy combination at in conversations without of neuromodulators or not what space. it's there market, kind opinion of duration once leaders our greater a of our and on, with I use a opportunity neuromodulators again given profile continue based to clear other, least a of it's seeing part the growth chronic this going And are responsiveness, in frontline away. strategy, the is in the be think to safety going changing whether longer neuromodulators to

think I And of so sort to protocol. that we've a continued refine

at, I better once trial would certainly and designs we'll those think on we we're where and feeling better back we a would those when to come about you look clarity trials have we're start what like.

David Amsellem

do And you Phase not So safe like if injections-based? I to head-to-head think versus you Is as the of and potentially of trial, vaccine visits perceiving just may, the if some you're say glabellar comparison proposition number efficacy-based a so, migraine it II in in as follow-up. and it line the BOTOX I study as BELMONT of do setting? value of did sort a

Daniel Browne

similarity of lot migraine we we've the what way to pursue a There's historically. Yes. in done

you've sites where it. Whether I haven't at the you're sure safety. is improved total changed dose, to think, first injections, you you've looking you're of looking changed foremost, you want it, profile make and at and safety

think and I thinking. in our So first that's foremost

we improve effectiveness significant the opportunity think Secondly, there's a neuromodulators. to of

we've learned on broad. either last lot something a over the given neuromodulators, a or how spite in or conditioned state more XX whether I years, it's think plus,

foremost, duration, before what's market better to today. be than get in and needs fundamentally responsiveness, I you the think we believe first to

its the piece is think I final duration.

frequency a a injection opportunities reduce You not basis, of only and to impact, on but on at the want to the basis. patient payer look

those, think and market what comment to will As which that's you And get part CGRPs III. be from create different on But to We do it to guide and the that's compare today, relates to trying meaningfully want Phase Phase you I of where is want to that to able want the it we what neuromodulators Phase II of what you're aligned. comparator. to will into something as sort all trial, III, I have be right. I think

meaningful think powered CGRP where not And to get we what that play learn both want going trying only I be responsive You as on you role, continue we're and the in with so are a those either this to have this may population there but protocol. a appropriately are to it's combination. And data. lot not be year to in populations neuromodulators, the that's ways DAXI, to continue to that or address neuromodulator, new address what --

Operator

And comes line Serge our Needham. the next of question Belanger with from

Unidentified Analyst

This had [indiscernible] couple. for Serge. a is I just

are to in from practices so stop the XX having to, that both sites the regarding or some that DAXI? that initially given the physician as likely your provides? on brands had guess, and a experience build focus potentially they've as other the the you to that seek long-acting expand And a I already So of providers plan short-acting Is DAXI multiple awareness toxin. do with long-term plan trials, potential and SAKURA how you out out

Daniel Browne

it SAKURA was of as part program. centers think I XX the

today the of in surgery. presentations. instrumental they're teaching, the the experience and were early reconstructive those publications the think comfort got data, of using initial that providing of those technology of various they've and They and plastic the and become adopters become are the I already JAAD because part SAKURA and podium a experience, learning, product. Those core physicians our

that I So they're think sort part of process. of already

of a trial predicate gives that age I think and over not were the us other ethnicities, drug of and centers, experience It's male, an the it but female that skin and SAKURA. than and types the cross-section such like. size the any in was it the larger only with trials patients number it's patients broadest

we the we reasons of our did, into it as long-acting identifying I of practices the time. process, size look strategy, sort that I learning And that of will it why want to over head quantitative. part think start that. a be think got made will those trial at that And that but that is roll we've a out the sort and the and of think how of start I on scope and one commercial very a journals it good of

to centers that's we come we look those As to of from closer how product. out we'll get today the XXXX, you obviously as the something we than as XX identified larger to map much commercialize we've approval, into back in that

Unidentified Analyst

Great. touched think you on And any the Is Pharma their anything about Has Fosun also, I there? started update kind partnership. this earlier, there of on end?

Daniel Browne

the we to at China, specific. well looking anything are for in report of we therapeutic. teams So opportunity the opportunity about the part excited specifically, be But as in think for Nothing China. worked to very together. very I continue only Not but aesthetics,

meeting able some path. to lines are from we'll at for on those And teams development And when and be be and with more looking back time projected you trials to both. in team interest will come future the those an not-too-distant the approval. there's at think specificity Fosun I the hopefully, starting

that very be will territory. in actually DAXI unique

just market a the experience And a space. has that market leader. with for core the innovation think in of looking that in long-lasting lot I some

really we're China Fosun about So the excited good a think And the opportunity. team with job do it. we will

Operator

And David Maris comes question with Wells Fargo. from the line our next of

David Maris

as the next and what's to going Because that R&D you decline specifically, sense studies well the year? filings or just If you'd of you to So expect some to next did decline? new percentage rough you XX mention it the expect give after some if that over the you're also us spending so? starting months could be

SG&A year? there is cash And meaningful a to ramp a -- the to in just part the understand first this to is the in all you of be And runway. do there XXXX try expect in of

the quarter going cash be for steady do the insight Any this next that to So into quarters X you or so? of use is think be would helpful.

Tobin Schilke

spend of Thanks, some also David. This ratio the on guidance and and through on balance cash want our XXXX. we're closer SG&A consistent I obviously, more is with spend. to we to sort now our specific through as R&D to get XXXX. funded our We've don't guided we're change commercialization. get specific But have Obviously, earnings we've other our than Toby any that of of will Schilke. And specificity right

Operator

Blair. next Tim line Lugo the with from our question William And comes of

Tim Lugo

Following up U.S. are It neurology. geographically? a something entertain Or carving specialty you like on or sounds might you more neuroscience nondilutive looking deals Is more question. David's that up look say? amenable that focused at indication-specific something you're indication? to on on safe such focused or even to as only Would financing you

Daniel Browne

biosimilar and was Tim, that the it, we we to transactions business for at to partnership Boston development, of value it in we've look executed areas I for a at think us Mylan we shareholders, that that think look do felt, how foremost, that And it it we X than it over we value I at with in and And was created and create we, do first better the when when at look shareholders? and period China the look agnostically. directly to do to that time. longer

aesthetics the it's has point I think muscles other shown therapeutics, what the in we've partners, with the what of of different that the reached potential or whether when the this and and in DAXI development in neuromodulators. is case muscles associated we case small of science now in therapeutics, to than been larger data aesthetics

Phase in of to III work number And development done, is geographic-based given now through both that your are so the opened it's question. discussions which up more aesthetics, a

opportunities. at I from opportunities and the hundreds commercialization? distribution there tens, not a of opportunities at think challenge when partnering look there's look if you is, therapeutics, to potential Are

so yes, indication-specific. very And they become

be that is within Revance, want asset North want said we America. we what think and we to keep the to I whole

-- out that sort DAXI America, but of think at at in by geography beginning pipeline But commercial, it's we point, and about North type back indication, the at can take discussions the should indication when therapeutic other successful approved could next all glabellar by expect that don't we'll launch roll then to that other are to having that a those getting partnering would this You come we a look mature. we year and more continue in in I look most certainly in specifics, there should And possibly are. have way. be or we either we of lines thoughtful now

Some it all Revance. will be of

in this could more value-enriching molecule makes partnership essentially grow is longer far, Some better responsive generated will by duration but only pharmacoeconomics. or data that something we've such that's it's be by either someone This of not a or segments with indication. or of with else, the it DAXI that what indications opportunity geography a those number it's so

indications it it's will. it should, discussions opportunity. are have people much of -- neurology reflective the who neuromodulators urology isn't And as having I think used exciting And think other therapeutics but we're in of and today where as visibility and an I that's doesn't are with type today.

Tim Lugo

should active organization There from understood. members X Board do very XXXX? that's is new ahead this where And you to year. the obviously also currently? the a Okay, which And add quarter. else last were the of within added management some you settled transitions be How you C-suite want think do

Daniel Browne

Beraud I more of don't on Board Nolet. to management Jill the Chris could be we attract and the and people like team thrilled think behalf

and they executives, these are positioned be think I of future Revance And an honored opportunities, and experts, in for I their them and they great growth. lots people. not Directors. for and Board are and it. am just really this part independent talented, good thrilled excitement to extraordinarily is platform It's only well are executives have I their growth the the seminal opportunities who think a field, for of it reflects of

And We've a exception executed a well. for time. a very delivered We've team with that's we've plan been period the in and filing. management short and delay operated of of the BLA had very long the stable

trying have about it's commercial have the infrastructure in out timed building to really, you as and organization closer best-in-class the product. the that to think, launching I appropriately get

this look company. follow innovation. But attract I think and meaningful, don't have to they commercially aesthetics that to to there's clinically continuing at And great real I believe where problem going meaningful talent we're when therapeutics, you any

Operator

next comes from question next [indiscernible] the our question line with Barclays. Our

Unidentified Analyst

see DAXI. -- progress to on great Can It's questions. X the you

us the anything duration incremental get the give on an can DAXI, call front, X you months on last update any expectation. greater Firstly, have since you on confidence to seen your

And a made BOTOX characterized. BOTOX statement the for for BOTOX. that on transaction, BOTOX it's Recently the biosimilar AbbVie secondly, AbbVie-Allergan on very unlikely call not the well that long And molecule a time. see is -- will a biosimilar highly one

curious as So especially views of your BOTOX. this, biosimilar part I'd to to on pillars know also core growth be very of divergence comments seem is your does there it and on a why be strong such

Daniel Browne

the DAXI take and me Let X-month. labeling the

on very based X-month our based where the to on draft a ability none follow-up. label our with predicate confident We mild based guidance labels, to continue in agency the discussions feel on the get to

you of once agency confidence, discussions that they're the we're forward with with different, materially -- to but part see, manuscript as won't there's nothing changes clinical year they having next our filed. labeling the those be So looking and

high. confidence Our is

And X, time is be evolved to FDA shows historically. for clinically this endpoint to at meaningful X from mandate data the so the a endpoints And achieved. there that the be there think to it's simple to up that that but first will that can hasn't I is months been fact over time, data X X

Now first of is year. time twice correction around data for this annualized there the a

So I don't sort any that point of further. we think belabor to need

to agent not and biosimilar, a at I to R&D clear get XX-plus Revance, product. we've very challenging, manufacturing the to to impossible relates its under substantive required that's over operating its it predicate to and As a years drug we're analytics this with is made that investments analytics relative API been that look controls investment a a opportunity. we've and manufacturing at into And developed reflects it technology by I think U.S. the think in in today but guidance state-of-the-art And reference facility this and point. select the the products been where I that's chemistry think been

there tremendous that was think I uncertainty.

I came also BM a will work once route be think in with anybody will the we we a advisory forward, but very meeting our Mylan, of think the finish comment is who's we that. path FDA I the complexity we the from front there The up that is And discussions us. high. pleased But that applied recognize on. hard there's would a that lot have of bar high, is prior away initial shared with we biosimilar in that to meeting,

work. think I is view work And we're our has We it's it's that we'll excited continue and not challenging to further. think But to but impossible, value. do that the asset continue

Unidentified Analyst

That's helpful. Are the Optin discussion started?

Daniel Browne

I'm sorry?

Unidentified Analyst

Have the Optin started? discussions Mylan with

Daniel Browne

Yes. been those We've discussions have initiated. -- continued

Operator

And of our comes question the Douglas last with H.C. Tsao line from Wainwright.

Douglas Tsao

just all, of in Mylan. First of terms

you? you there Just interest of change reconfirm them provision they're around have recent engaged that transaction in. the their of to a continuing Is for control news involved on? curious, in the And given sort

Daniel Browne

I think relative opportunity FDA with think Mylan the comment only today an going and have we've to to that value way associated And biosimilar they thing a what's or asset that is support we're on they what the an that's with We advisory with continued look forward. take meeting that been to regardless which they nondilutive the create way data payment development. they to the asset generated, on we'll opt-in have going opt-out. of don't, to continued proceed. if be and at based a -- opt-in, there If do best this discussions will that may of they is

not. work of with a at lot sense they know, As time, the their we portfolio on certainly portfolio, on through decision part BOTOX in what's a appropriate Mylan makes a in course. make there's that that And will to a whether and of discussions they'll or all due biosimilar

Douglas Tsao

then just And then, follow-up. Dan, question. as And another a

saw crow's we've do obviously, the In trial? And a lines, value the varied host data? might is expectation be any whole provide, might that that in terms an there lines, terms provide reason say value SAKURA would glabellar think in data well the you for we as data which in seen the of to forehead from what it that have feet in DAXI of those of versus as the

Daniel Browne

Look, I from and different duration Doug, of changes of think patient the the conditions. indication neuromodulators, responsiveness neuromodulators,

of lines so about be nothing aesthetics in us spasticity. junction baseline And used, is having a that neuromuscular market and and facial that as crow's And areas that the to feet injection There's it other is question, than for it's and that line Whatever part of that drug this that the across make duration This drug. all said of responsiveness a sure think is We I both of areas. across junction work efficacy we left upper I glabellar for is not what's in area is, for today. for sort what them duration other simplify there's kind no and anatomic unanswered. prior with consumers. neuromodulator safety, is in pattern and -- can understand the limb is dystonia, neuromuscular to reason performance, think in that indications know advance or cervical the has right inherently different may face we versatility on to a longer I want the of having the a a

for innovative a the way, that's do. label, And getting us, you're space aesthetics therapeutics. think is intend molecule or possible out facial result, of innovative that, data work set what building best I what's that's an it's And physicians we in it's rigorous in thoughtful the think way. required an And sure to make with to the whether to about your I building clinical

Douglas Tsao

would the Or somewhat it's is you I so months longer think guess, might that that to you framework? I sets, forward we data as as to on-market it And, follow-up just would that. Dan, be X existing than look those mean, a while possible should therein? the therapies, think right --

Daniel Browne

the data, I example, at fewer if not look, -- you does every -- is the at treatments. Look, and in existing very not for at But it's want that for look crow's think or look with annualized want a you to dosing to the look good. you us part, feet natural X

the I itself. want or think that for of crow's forehead day, spasticity, I And limb patients part or look we want at response whether bands. cervical lines whatever think your indication, greater as the rates. So what think to program. or as that's migraine, At unusual duration, upper the try or And and events. physicians Pick end going is us, creating see data adverse for glabellar you feet want see They it's dystonia the to for to without do bar advancing whether look an us I the see creating and more speak state-of-the-art. to DAXI of to want they the in platysmal to is is

Operator

conclude final And today's turn Dan any Q&A Browne would remarks. I like over does for back to session. conference to this Mr. And the

Daniel Browne

operator. you, Thank

the terms with to the Wells next Stanley schedule be Conference, the Cantor Healthcare in the catch-up Conference meet the Jeanie call. New our at you'd in Fargo a York let Conference when area like In if know travel otherwise Healthcare also in Fitzgerald will in which us of schedule be or and Please Boston, Morgan York. few months, New we'll over Healthcare you're

With in day, that, of part everyone. each taking a thank today's like call. Have Take to great for you I'd care.

Operator

concludes and Ladies program, and a day. gentlemen, this may all great today's you Everyone, disconnect. have

Revance Therapeutics (RVNC) 6 Aug 192019 Q2 Earnings call transcript