RVNC - Earnings call transcript Q3 2020 | Revance Therapeutics, Inc.

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Operator

Welcome to the Revance Therapeutics Third Quarter 2020 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode.

Following managements' prepared remarks, we will hold a Q&A session. [Operator Instructions] As a reminder, today's call is being recorded today, November 9, 2020. I would now like to turn the conference over to Jeanie Herbert, Head of Investor Relations for Revance. ahead. go Please

Jeanie Herbert

Daphne. Thank you,

and on President ended and and and the Abri Officer, Revance us and Rankin; of today Schilke; results Chief Abhay Development, Commercial Officer, line call Earlier Executive Rubio. Roman released Officer, the Technology, President Therapeutics R&D trial President Chief and and Financial Dustin financial Operating are Clinical Operations, Phase XXXX, fasciitis. Mark Dr. Innovation of Injection Chief today, Joshi; the for September Sjuts; Joining results from Aesthetics, Officer from Product quarter of DaxibotulinumtoxinA Foley; Toby third Dr. top in Senior Vice XX, Revance X President Chief plantar for

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

expectations approved statements forward-looking forward-looking significant of current the DaxibotulinumtoxinA if candidates, our degree acceptance, financial performance. potential potential candidates, During and and fillers dermal this based the and the the and and statements and collection our product respect plans, development our uncertainties. risks with inherently our conference and including and the expected of are and guidance, on HintMD milestone RHA product financial expectations results of commercial range by anticipated of any platform call, runway Revance's the make market timing the size, growth launch clinical financial current opportunity business These approval involve company's management to cash fintech and outlook, and and statements, financial and of for XXXX operations, related injections pre-commercialization anticipated planned will FDA, strategy to estimates,

be non-GAAP superior to Also to is reconciliation A are of on evaluate and The in performance. Risk the on release, could forward-looking call, our included risks different in with of report forward-looking non-GAAP to result events measures accordance financial not this which measures current Factors Foley. we operational cause Our will and GAAP or our place believes that, uncertainties. addition both considered any that recurring those as GAAP, should I expectations. results its describes GAAP forward-looking and X, actual statements Relations the non-GAAP a which events in or include prepared statements investors and to to Investor be differ obligation substitute will at financial in of filed new website Mark? helpful for available but Factors update call today's as these materially factors such our XX-Q section from result results you or results on undue company a could entitled management from a cautions With to results. present statements these GAAP timing to anticipated of in XXXX. turn now measures, in duty reliance statements, our Form be on undertakes be Mark is the to changes to no not information, to November in future afternoon, should Revance investors.revance.com. considered earnings over the

Mark Foley

pandemic. has environment resulting Welcome XXXX results challenging the the third Jeanie. at Revance financial conference transformational This you, to Therapeutics year Thank despite quarter call. a Revance, from been COVID-XX

we'll assembled, positioning. into Phase ASPEN-X II a on In to strength our transactions, regarding we prestige with out believe and the across traction. But strategic Dustin? by transition moment, In compelling of achieving milestones, in more success our with organization me III we call We've diversified also the that our and X significantly most cervical therapeutic Officer, strong more portfolio commercial let launch. to the and position, date our HintMD and laid commercial aesthetics recently reported franchise Phase Phase the market, before the touch to our Fintech hand programs to I and also strong Aesthetics launched do, enhanced a go our RHA several to and QX, clinical We reported sales our to the therapeutics detail to results share BLA of our on cash over we've I'll their Commercial collection foundation addition our reflects Sjuts, dystonia. fillers a quality III market successfully of the data encouraged In status, Dustin we franchise our XXXX start you are for platform with dermal of franchise. early Chief the details our enterprise.

Dustin Sjuts

Mark. you, Thank

third clinical Revance stage. the leap officially As quarter, made from the commercial to has of

are platform. early HintMD and We responses results of commercial the and to the the the with launch very customers our from RHA collection encouraged

in enthusiasm In am high The us the As customer-facing products partial I products launch Aesthetics, has our we portfolio. brand September, such, right services we $X quarter. early proud million that around that from and overarching commercial to and generated Revance of team. great our and introduced gives confidence established aesthetics first for sales the Revance announce assembled the officially

add FDA for and collection, anticipated we portfolio. filler platform, RHA one, which Our for this wrinkles acid engineered aesthetic hyaluronic review an at the our Injection, lines. the facial to give upon mission first The exquisite folds, adapt to curated the the the is aesthetic movement. technology. Fintech dynamic was and only with Revance for transform hyaluronic platform, loyalty acid the under to Two, resembles subscriptions payments, designer industry's practices DaxibotulinumtoxinA glabellar is experience includes: treatment product of customers skin Aesthetics the services and approval, financial to first FDA-approved and highly finally, across tailored filler, the HintMD and will portfolio natural And

personality and education messaging, syringes engagement inclusive which X,XXX injector created Turning collection. the launch launched RHA who we Valerie early flawless to interactive campaign, RHA nearly and York More collection. experienced as Nearly landscape, our collection third X, as experience. platform, X,XXX TEOXANE, the and Shanba, experience RHA The patients education more well to evolving consolidating to-date. launch from first our an CEO training we events into one helped more to Times trainers and both has of utilizing with hosted of for than sales injectors physicians future for commercial required award-winning XX% been tested seven launch with collection, setting You necessary RevanceU, these COVID the live an training of successfully the the Revance's than successful RHA motion. Aesthetics. customer-facing highly national our best-selling and training XXX program products XXX setting Results preview enhance that commercially and the consisted live In an collection than the sales Through across clinical Aesthetics the injectors the the with hosting to results aligned million globe meeting force, across We New unit television to administered collection with motion Topan vision. the clinical at country training exclusive trained in XXX-plus field of Revance a looked RHA the quarter, media the programs team and event more Dr. establish and positive, than Aesthetic new sales all indicated physicians launch XX XX a force our completed completed X, of while Knight, In successfully of of virtual of person preview leading the Madam HintMD were company Author Revance variety inform and Despite of a for face-to-face initiatives launch both team, hired have patients Revance Founder of we virtual provide August, education materials. X rest foundation treated beauty and approximately a services. business from of program, and the generating our the efforts integrated premier editors, has impressions. RHA and training country. organization, positioning Avi with training safely and natural Keltie across leveraged Emmy in the portfolio standard and a and our and XXX-plus force And to

September, launch across less quarter RHA HintMD the accounts and results, in with customer collection platform select the the for XXX activities we the generating initial $X in third began in selling As than million U.S. in our accounts. revenues in

orders all X We are and X, that seeing serve across distinct three SKUs, products X, product RHA three all needs. reinforcing

to Turning platform. Fintech our

the with truly processed a HintMD, the In to portfolio. pleased week, in unique HintMD in integration XXXX. has report With we to-date last payment processing that $XXX are are million we positioned of

touchless with Our focus through is offer practices processing strategic to incremental initial value smart payments. to payment

goal exciting our subscription in are experience label as platform first prioritizing with a an we is better deliver such of patient-facing pipeline, the user even industry program loyalty process to development and an features our white experience. While

DaxibotulinumtoxinA open-label having facial As June top line inform further in for will these Injection headlines announced from for open-label aesthetic in four informative Crow's from in II Phase future to studies study Feet, results topline announce Phase separately, trials remain our lines results programs. from results and Aesthetics, poised The we our in development II in upper December.

led with to customers, pulse and the market. surgery In five adapted keep by were decreased plastic the the interactions the players continue high two-thirds many reporting country, a month have Aesthetics across average. to access and Both the safely processing industry injectables. and virtual in facial to in are access reporting our and practices across with being pre April HintMD the procedures we terms held to customers, facial has are market compared on levels. portfolio the team platform, March power be We're finding and injectables COVID Leveraging to the XX% over recovery finger demand to than active revenue person. in of and able demand, practices for the data Interestingly, our strong the payment evolving both COVID of face-to-face environment. of unique and sales had more Across to returning prior of V-shaped most dermatology

U.S. have With our a confidence we strategy, are world-renowned prestige HintMD our now launch to Overall, products processing continued the May, trained reached and with the train strong physicians, levels The in practices, through back RHA the early of engaged has However, platform and to and saw surgery salesforce, experts our payment a turn integrated initial Within strategy. call HintMD Mark. which up on our QX. in sharp the on performance. I'll over in initial executed people, we deployed sales led U.S. a pleased record. XX%, strongest that, collection which We the bolstered to offering, the yields recovery the plastic month trend very

Mark Foley

Thanks, Dustin.

which lines, for third we shared the outstanding our for associated delay a address for potential in me submission to approval our BLA release. let glabellar our DaxibotulinumtoxinA financial in Now quarter Injection with

companies, previously days With site As go delaying it XXth, FDA by corresponding status. been to due several just reported the drug travel announced on to biotech felt until COVID our our to XX has update approvals some restrictions. inspections an date we PDUFA appropriate provide of November was related and

yet of prior and today, on noted As facility FDA that guidance that to The is restrictions in in based related to California. based previously has the place. U.S. our also their has site is required of limited of COVID-XX a ability currently agency inspections a manufacturing communicated their conduct FDA our has to inspection travel approval The BLA. schedule Newark, inspection site

that wanted further. that approved do plan our this date. still additional to we be While any do drug chance At an could might our conducted inspection elaborate time, not a not to possibility be not have on XX, to prior acknowledge PDUFA and we the there's information November

an time. possible work inspection We at with the continue to earliest to secure the proactively agency

revenue With is less strategic this collection both any of platform, commercially made guidance we the on timing a FDA more we a we company company to stream. to believe continue the diversified cash ever an due transactions funded of project unchanged HintMD dependent the before as remains that the single the the weather Revance's Revance in approval, is have delay the potential to new product approval. RHA than into year earlier and Should and our to change excellent financially launch. takes any to puts XXXX is we and associated position, with and

agency confident with work We overall the of to necessary the our inspection. the remain submission, complete and continue strength also in proactively site we'll to BLA

doses Phase in effect we our with a therapeutics Injection safety results primary its turn announce DaxibotulinumtoxinA the thrilled beyond were secondary of our potentially with trial long October across the duration endpoints met in of me a which underpin stage significance ASPEN-X statistical revealed the of aesthetics. the high next growth of to let XX trial to treatment The for study endpoint ASPEN-X franchise. of believe positive Now profile revamped pivotal weeks. will We differentiated cervical both from X dystonia, and for and

therapeutic in caregivers, results physicians significant aiming for are continues these and able for were practice dystonia weakness. patients, with indication with is represent in able We particularly pharmacoeconomic of safety ASPEN-OLS, we a visits payers approval or a regulatory and muscle to in Accordingly, year with could it Importantly, alike. advancement as results in low The to adverse cervical neurotoxin dystonia care reduce along active event dose results, Injection by believe of for first XX% savings. study potentially Based XXXX. we dysphasia deliver a material corresponding relates on open-label the DaxibotulinumtoxinA being number meaningful to that with to XXXX. low rates, up these for and treatments, cervical to expected our result

Let of only sizable dystonia the billion portion is me of market, therapeutic toxins. in but a global $X.X for million itself botulinum cervical you $XXX that remind a and market

pain In report of from results and resulted this XXXX, addition was disorder, trial fasciitis the announced we our of rating which quarter X JUNIPER XX the third another upper release with movement relief in earnings scale. afternoon, In doses for results Phase conjunction DaxibotulinumtoxinA plantar greater the in unit muscle dystonia, first pain trial, pursuing to we affliction a the that of to fasciitis, plan brings painful the limb for of measurable on than trial the and plantar me are from In management quarter results. placebo spasticity today's to numerically both unit foot. Phase our the numeric X XXX cervical Injection

for that is so attempting advantage from been first-mover compared approved met However, well injected at category, in Injection and other treatment out foot of dose the when to muscle endpoint DaxibotulinumtoxinA or for for fasciitis, disorders. appeared of to plantar foot. safe therapeutic physiology week the the tolerated neuromodulator movement pain new eight, NPRS a a placebo. has neither primary pain stake underlying statistically we were into efficacy the in different generally significant No with when improvement existing

primary we well-established focus While on approval analyze further plan to pass-through neuromodulators. where our be the are will and market for data, the indications

X planning for in the reporting we and and Now can advance with initial the forward clinical dystonia strong we're results cervical upper spasticity our Phase looking data, X therapeutics, to commercial limb JUNIPER With over first in clinical quarter of cover the XXXX. I'll results the Schilke the these to now Toby will us call help Combined, formulate our financials. strategy therapeutics that, to going turn forward. Phase

Toby Schilke

for of Thank the believe quarter you, investments consisted short-term to $XXX which quarter cash equivalents initial orders fillers. operations million, we sufficient XXXX. of planned represents fund We which with our our balance. of million, and third Starting into $X.X dermal Mark. third RHA with ended Revenue the cash, of Collection is primarily XXXX

categories on out revenues You three into will the broken are income our now that note statement.

from services $X.X revenues RHA Mylan $X.X million HintMD the $X.X the revenue million. Collection quarter, revenues partnership product and million. During platform was Collaboration our was was the from from

go revenue, through excluding full, cost today For expense in-process our amortization, financial quarter, our RHA release million. compensation earnings the not so this R&D, the and was third million, depreciation operating operating our I'll and issued on in the we expense $XX The the $XX.X call. results details was outlines stock-based related of

the revenue, related operating This effects remains outlook, $XXX million depreciation, HintMD range the in cost from and XXXX terms to expense $XXX process the $XXX is expected $XXX In Non-GAAP to compensation million. R&D. the operating acquisition, excludes of of stock-based the RHA amortization, million. of to GAAP million our expense, be including in

$XX to and XXXX non-GAAP expect development $XXX to be expense research non-HintMD continue our We million to million.

launch revenue, future RHA of terms platform. remains until we the In trajectory HintMD can providing our from of guidance sales policy to collection the refrain and determine

fully the And shares outstanding XX.X call to XX, excluding turn approximately the Revance's million as that, with impact XX.X basis, of debt. shares on with Finally, were October a shares I'll convertible of back over million XXXX, Mark. diluted

Mark Foley

is through is franchise Toby. therapeutics. dystonia similarly positive aesthetics demonstrated powerful results, potential a you, ASPEN-X Thank to in our strong and building company's the franchise create now a Revance cervical

the the Importantly, will open we that, services. with With armed worldwide products I $X for combined are the entering Operator? and established next-generation call markets billion questions. where of now up

Operator

Your question Instructions] with comes first Ken Company. [Operator line Cacciatore from the of Cowen &

Ken Cacciatore

could Hint, inspection. in of Are know outside RHA where you're you and the So launch, you little provide lines the we about just you'd along Mark, the question, in point? rest the great. First color this eventual gone far would have a you of along then us DAXI, of launches of And the just characterize bit any stellar. think at recent there there's feel second manufacturing don't review? Do and engaged you than some as label less approval kind for stand toxin I that with a be space if been

So if you getting could once terms can if any of knock for on you launch might and get stage approval? you expectations in there's learned then Thank how talk you. experience we of and this would lessons about wondering set broadening, an kind

Mark Foley

Great. question. Ken. Thanks, Great

sort Since site following where we're we one, of the in reconfirm of our as the wave, COVID at and with quarter, update, of optimistic in we've year site agency and course. we're tradition and the give we're earlier every milestones of where in kind the visit been here the different that reason we'll of terms the first resumed would inspection at. BLA that inspections process. BLA kind breaking the an some that the this, our oftentimes, happen due our FDA review, commenting the other on we of aspects typical And first doing are it where in relates we're in to So

FDA's time of a we and our visit PDUFA to XX reached a has approval, ability in out site where days for the However, November our conduct a fact but it thought point from PDUFA confidence to XX date inspection. was the of it share thought appropriate time share could appropriate COVID lack given happen was it time that that. of environment to we frame, There's before the now still PDUFA the

don't parts where in -- appropriate to policy, comment discussions prior since the process, are our the relates process sort we of it it's with we to that on review we As consistent other of ongoing. are think

quality we your we On question agency. what that of I the sort submission to forward, However, of say in second with confident work continue and from launches. feel the collaboratively lessons the is, would very about other we learned put

sort each unique think each I the trying got different. benefit of of those to looking of before is those and that to be and launch learn certainly from going gone us. at have of We've sort

would is very what say However, our is, strategy I different.

and I of focused different in the prestige after. going We're very We're we've products and creating taking we're of customers that category approach. assembled the the think a in terms differentiation, targeted we're new the that because a segment.

to little quality the addition we've positioning of to traction around and the the we're In sort line in RHA a And products, is pricing point the of that different would I what bit of strategy early market. with fillers. a the got of seeing

program We're user group QX then into We'll good our to a we a as as we're fully the the approach that make the through think to out where frame. small get take start there seems It's that in of DaxibotulinumtoxinA similar I And before, approved, to approach. go plan get with think going a sense. time laid experience. sort lot gets and preview launch we've we've of to resonating. be we Injection once measured strategy for communicated very I going to then

to strategies. prestige tried from of We what new of good sort they're I and So learn creation this about think said. position just market different our feel certainly, category. the really the we've very has And

Ken Cacciatore

so much. Thanks

Mark Foley

Thanks Ken.

Operator

line Your next Samimy the from question of with comes Annabel Stifel.

Annabel Samimy

my Hi, question. taking all. Thanks for

So I here. had a few

on notice the I and revamped training initial SKU. did First, a around reception requirements started RHA, you

but DAXI? they little physicians incorporate some it be filler? new I know physicians need use presumably talk to how to around you're trained be approved yet, you you to bit starting training this some going not of it's how thoughts have the about can much And So with are also about worked before. a to

it's HintMD? the is on you fasciitis able and can can up you finally anything of you better can any is or reception you now than HintMD. expected with on see further be On you in plantar thoughts neutral the indication? And now there or expected? other what leverage Thanks. therapeutics any that front, -- trends? guess up that running, I the starting any then guess to have picture see would of I therapeutic now out Is sorted migraine you And beyond right worse that what to do that

Mark Foley

the two. ahead go and first the next take Dustin let I'll question hit Annabel. I'll Thanks

Dustin Sjuts

Yeah. Thanks Annabel.

On it's Collection right mandatory. RHA not the training RHA training meaning not now requirements, for is required,

However how available seen was the a currently what's products behind than a with for we've metrics bit injection range what is that. created technique, more different allows of this formulation unique superficial high safety

And done a experts RevanceU. the bunch of them taken kind is so of coalesced what and global we've we've under we've

physician to kind tricks the technology to that for nuances. So better the allows And the we've U.S. trained understand U.S. years. it for the also tease also injecting have now of and to gurus us just ambassadors been out get then tips allow from that then it global and

really allows differently. it RHA things the of formulation you do to the With

encouraging also virtually engagement our in we're we've and seen level so And training, of platform high a on-demand. both

that back over answers hope on turn training. I'll then your to side? I And DAXI on Mark So question it training the

Mark Foley

Yeah.

outside clinical I will for today So of and the once we approval think the still Injection, part second is on about the trials. we past side for that it DaxibotulinumtoxinA question, be first to talked of hit we've will time water have used the what that DAXI in it get hold

sort accounts, then XXX trials QX, and in learnings start broadly, pretty small In roughly was launch a September. little what to scale those of roll or our rollout indicated then still need physicians therefore, use be RHA and we we QX. that so bit commercial to those did get with in physicians, similar into to so to to messaging be the going a it And of a physicians launch kind controlled always that thoughtful around the from everything inform very way. with just And, preview but we've in recently we group of and strategy QX, collection outside use measured. therefore And of our the more feedback broader will experience

pretty watching an and physicians, duration acute quarter turn as real-world similar there So, about strategy, what less response except make pretty to extra beginning and some looking Again, experience. sure talking those get the it for, to see injecting to that at from they to is it quickly. they're they're the concerned they can are injecting around that,

way So, it right be do the of gets the we garnered strategy a we've we RHA feel once continue think that a launch into right that will lot to approved. and launch, the for insight that, this, through neuromodulator to

question with of strategy second therapeutic the sort going how Your now on forward. PF does inform our readout, that

see Phase the exciting and placebo, always our talked as neuromodulator time attention for the more sort value. the fasciitis real forward. muscle a read promise helped of duration it out didn't efforts cervical III, going spasticity really of company longer the we're arm dystonia So, we Clearly, a between this movement and limbs Phase separation we upper and pivotal and carry plantar disorders, the is focus but Clearly, us that treatment in has II. the disappointed about, we've II, Phase

into administered ULS and neurologists. lean same fits movement to in category going by CD. is muscle of disorder So, the we're

the neurologist. to a that's center to think, And going strategy visibility I have, going. that's Phase see greater we around we'll direction that but So, that II data, want we're to the

As plans for out of approved we it our when. migraine, as But talked think always if, XXXX. existing not relates that these we'll indications, that about, data make package get to a finalize migraine kind and we've I it's and as it's other

additional last so in kind therapeutics neuromodulator. we unique this in forward a optionality of the that trends, -- the nice leverage insights offices payments that thing HintMD be going of going But more this and to we bit been there is on that exists The as terms are remote continue or contactless say thoughtful any invest the to I we how move sort in forward. to of environment like in are will we'll continue COVID about in one they one And has process different payments. little

And transactions attractive. as has have volume promise secure the trends. offering we of to do out so overall place Certainly, some I platform today, visibility that reported and think the take to allowing for been

does physician I'm partner it the either we can that in way move the insights that with it. the help in help happening what's a continue on be their to And we what So, payment give validate forward us to uncover share as of to we'll seeing sure market we're insights additional us run our corporate way with better or partners better them business a side. a on side

about it excited. In terms we're we're of sort thinking very how of

it. this is are loyalty in our sort down of an road above of the we by conviction a things of leading product really side overall part going aesthetics be other that subscriptions to franchise differentiation the really of and have important and that that think continue around combining point to important I services

continue that The really integration well. very the where working We collaboratively. positioned. gone thought has are to we we're So, like teams

forward looking to continuing to both into the really products we're drive marketplace. so of And those

Annabel Samimy

Great. Thanks a lot.

Mark Foley

Thanks Annabel.

Operator

next of question Sachs. from Flynn with Your Goldman Terence comes the line

Terence Flynn

depend facility we we is but personnel that think guidance. can in was manufacturing think that about you what revenue know the taking just dependent currently, XXXX? on the is for positivity travel thanks located? more rate any inspection Like about it does the on as just the as is, city expect something the it I you're is the where should to using if question you. available? not FDA sense DAXI having Hi, the on criteria is providing Or And wondering on next then, restriction? the provide questions. Thank my you to it I think

Mark Foley

Terence. Great questions,

mentioned. one started think, terms it first when the from what that they the July back you are resuming they is I inspections. So to of in out agency, And in continue feedback everything put they us guidance to point

look restrictions sort the sort has of the guidance, at geographies. you it of of has different do with a priorities the do also travel-related If and with hierarchy to given to whatever it are,

to So any don't it's that. dynamic additional We I going be think a to situation. continue have other insight than

We are a manufacturer. U.S.-based

Northern We It's are single manufacturing a in California. site.

ready think of I to this But that. the a relates it ready. as to be sort put that thing. I So to to continue think whenever they're just they've that they continue guidance we're will dynamic out, point And

to don't We're on to On of have so we we into is one give launch. we're really good before the metrics numbers guidance, what want sort anchor to do revenue early month and you our or visibility.

We observe types reorder those are sort as a Certainly, things. of we visibility able there. more got transparent into to haven't And is SKUs be patterns that things. possible been the as have or of to range goal our certainly, we've as of out

be are peers There filler will also mindful the not a dynamics on of – We market. of course the out out there lot there's of competitive data in there.

business So we we you terms think well the information think about we sure how in business. how you -- about want we're and good that giving make of the to

when the quarter have a If and fillers I there give metrics. also the to them. RHA what we'll think or to platform, to mindful those confidence be competitively. more another you want in it We of to need we we meaningful we get them as give later, two, out relates HintMD or to But probably put sooner we little Collection

at stage. this to premature revenue little a give just guidance So

Terence Flynn

Thanks.

Operator

next comes with the David question of from Your Sandler. Piper Amsellem line

David Amsellem

Hey. Thanks.

initially? significant how then free to you And is, this of apologize a launch to you're extensions number providing talk stimulation? as initial be then on can piece So us RHA. but you you're if RHA and I product going missed of question extent which product a earlier, talk two I piece the as to giving things least demand, at about there? of of line can a one. number couple. a the means are of terms is remind And where be demand free extent What's that just fillers away big that's for the And free a will tangentially the And related is how DAXI. overall about which just So in

X. RHA with franchise, other to often is general, refreshing and franchises in of the franchises was that given filler are a just certainly in of there lot terms the think there's adding the down of extensions. new And multi-product all what the I pike

So helpful. can that would that if you be Thanks. talk about

Dustin Sjuts

is this the question. for Dustin. David Hey, Okay. Thanks

drives the As be And mentioned in we free at which what really goods doesn't demand. the -- RHA as innovation it the you outcomes exclusivity. as off based in deliver and can of what in that well look to kind patients, the products they generate and to generation. we have demand as price DAXI, and With demand, market use to the relates to both a what use their way their price we

trying We I for of currently demand. unique market use obviously we've product way. of of to free from use provide a benefits DAXI, perspective. product taken the the approach from that So don't awareness to filler RHA the the think do clinical that product demonstration for drive and/or to We both drive

of outcomes most drives demand have themselves to see and select as of clinical offices. to experience injecting is and the time confidence the And as ultimately product. properties get their that use the ability our what members, exclusive well for they to for available unique that then staff in it so And others

no, is unique pricing piece consumer. advertised allow don't the be Another to we to even

driver basically demand We to that is So perspective the from consumer global we the that to the best policy want either. consumer's a have for going outcomes. deliver a practices the ensures price brand not the

I free of on approach pipeline. all as the product third across – using will the On of that not your or So kind question driver. your RHA, didn't get transfer question quite Aesthetics Revance second

trial the So development be in those us. complete will the also end filing the that of and partnership Thanks. manages It with We're by talk more is X, kind have clinical indications. We'll clinical they TEOXANE RHA Know pipeline other RHA the is complete. that of as our at X and year for approval. those public information. into for obviously clinic get about partner looking

Operator

Guggenheim. with comes the Kush question next Your of Patel from line

Kush Patel

a might things. seems to to questions. for here. of It's through try had. had it be aesthetic hurdle and other and physicians for of Thanks with side the Maybe we'll some a a Seamus Kush We questions I really potential recently DAXI it biggest questions. great. the couple couple on Hi, economic on willingness the then spoke of Maybe go

frequency out CD, into on color on sales duration? as provide I just changes. maybe trial X.X the XXXX, fasciitis, the how curious of some plantar team – color patient know given could just then that is were then potentially years appointment curious a additional but I years given address And couple So FDA looking for the longer potentially And the with you could two going there out some assume per the perhaps safety what concern there. reduced with in why if to just

For the well example, as endpoints. the dosing, as

dosing think what the half used in example, For was was cervical of dystonia. I

understanding, or And of hoping been And the to additional that that trying the a example, if just step-up there. an see led potentially to Thanks. trying we obviously later? of those the to approved few, DAXI potential For HintMD just could understand learnings incremental to more metrics? potential there's understand from to is RHA any Just the is then is any team on additional of there's launches. aspects when launches, analyses tied Maybe kind lastly quite then DAXI do? HintMD failure where

Mark Foley

questions. Great

and we'll here. capture them So try of all

because and our the we've terms talked the we should of field on had one more more dollars a not premium-priced that you've pricing that have heard believe and to neuromodulator out charge of of and profile. the a of in the try this because about feedback able willingness And But information based then that first is in innovation. would time. millions this the with consumers that given sort physicians, So to expect as of we discussions invested reward We've that they'll we be of as DAXI more we get be for will that well. the research market we've hundreds at product. specific on And from pay what to duration

neuromodulators which up lot a end of in you period of they as year it about the look a twice existing there profile in is the out come duration consumers data only for market average for a If of undertreatment of at a means time. zone that neuromodulators on based

this in consistent probably be at will product physicians we actually patients come that will more, a what able profile, a to with duration So with frequency level with think they today. that's do charge

there's longer part paying patient coexist. pays innovation. switch but out, a of The visit. manufacturer the as premium gets that believe will segment they'll And healthy duration of looking wins. to more and we this the expect an Again in more, to they driving market that the well we a product little that come everything don't effect offering everybody think in market. of in I they're that a to so or but a account we're sort do opt prestige per for And for. make we Physicians

at the the accounts one up more look today with If they'll shelf, two different on or than you a have of end neuromodulator will fillers they lot one shelf. on

And will that they think with resonate consumers. so offer the they most the products

information for we And cycle, strategy so into of pricing premium get and think that obviously this data. a resonates everybody. give there's launch think sort we with our We'll market the but do the prestige as we premium well or aligns out really

our in in all then have an We of year. Phase XXXX. of study timing there, meeting completion the of the We've the complete FDA. to side now to past with need talked about enrollment about in and have terms end open-label III the We of CD the follow-ups. the talked approval gating XXXX we August of what's then things a this in In and submission

the basically wrapping agency. just the with the that's data, completing trial, meeting driven up So by

that's so we that how to kind of get And timeline.

good PF both this of second surprisingly groups. the again changes pain II study PF response with we high the the sort saw make, rate. we first Phase On reduction and treatment study. a of we ran, placebo that In our that we referenced is as PF But you some saw really

So were study, also high an rate. and pain treatment from placebo better the try out good unusually II but Phase in designed treatment. response made this arms really that both Again showed separate changes we to reduction again we placebo in

of And we so the we cap done had injected and a both things, heel. the before variety

we a We the placebo the So we for there pain. can did make release we rate. input it. could insight, be try high measuring are and the dry changed trigger the do way despite point we really measurement those for with we we one than five of Rather good time in to and of that clinicians fasciitis out criteria plantar true with heel it sure course with lot because sure days needling that that we a that. again just the the changes made from that's capturing went we over pain make to cap to that just single inclusion up response ended Unfortunately, we thought captured really maybe so a the point

if trials pain as going is categories So in It's of good plantar profile. right profile that it's we're categories disappointed, now much of the Plantar but for different to the showed lot really we've we've as But fascia physiology. very a reflected And we've the sense. which performance and of other indications and well. gone characterized in of in product those injury. inflammation those well is III the on. better us performed things. a look things and movement Phase fasciitis There's And sort we secondary a I back that safety duration at think makes two demonstrated encouraging are our other neuromodulators are existing programs an muscle thing for on

profile very So and those where more opportunity known I a product time. focusing investment that on think are an of judicious competitive be indications is our to our has resources

of as two. vice muscle we're in the the versa. then very other We're some But think practices possible. focus we the and We that going one it. to services will around mean think help we've now. the of We put it's in had introducing point again of and job the sort kind making on down RHA that the focus. get together. them with of that. that on into HintMD you great We where And more was combination and leverage that our with the primary subset I we're products right existing organizations well can see I market We indications movement from the think last if are the sure early discussion we additional there's early fit done can disparate a message your two that took where we things can glean to do today analysis distilling

we while early there we as will it's we move and two it's be forward early, as we we But do forward. and believe pretty can that to still unlock more link come together. synergies move the good So, that think I some

Operator

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

Tim Lugo

the the would inspectors inspectors. the Thanks to from know guess product. depending restrictions but been indications and for major questions. that travel national I local know away I inspectors to they're just kind taking are the and inspection maybe you if is the movement just regional confirm already that can hurdle? need a deducing want Or teams you out issue if there's just more towards confirm last and on of the is review? mentioned you're not if if outstanding in the this And what And you I come the

Mark Foley

Yes.

great Tim So, questions.

the have the -- is inspection. of terms they agency they perform from what to So, confirmed heard site in we've what a will need that

manufacturing that product. the site not for other that any do have fact I with has to we this think qualified

the approval will guidance. our an first is That's we take to does they've that travel-related basically we've kind to impact restrictions that got to their prior We've need place. saying is of follow protocols guidance pointed today. What know what and be of got that. us sort why inspection will So, this which here's of

proactively. work to continuing are We

take Our as California. PDUFA PDUFA single-site not Northern hopeful date prior Again has mentioned we do that that being a facility one with site from have need come manufacturing to inspection that the We're appropriate now But no share it away thought then. still XX will knowing U.S. good to days the and yet. we in place earlier perhaps here visit we're to with feel scheduled you. was we we

other to don't the not that. was collaboratively we continue agency. good and on there quality submission actual the the of put that around submission. of that details BLA awaiting with And any We've very appropriate we the than the to feel commented work we are continue So, other anxiously to a question? about part say think it's in We we second

Tim Lugo

but of kind may for quality. you touched the it just you're guess issue I outstanding it with was be it the sounds last if review, comfortable very on like the

were were to kind we turn even them now? were the [ph], around tomorrow of a there just of inspection you would XXs to able be some should schedule? delay If occur you the given if assume And and as

Mark Foley

great questions. I I -- mean don't

think theorizing. I we're

just I share to we think information what we're trying definitely know.

We're as company that was not report to think this out it update. -- this sort is do or atypical thought just the to potential say. that know I it's we to of getting clock. hard we prior into appropriate the PDUFA to start to the thing this date of the I the we given but

So, up it's hard whether up. ready but they whenever We're we're them to that theorize come ready. show to sort of were not for there's if anything or we could

Tim Lugo

maybe commercial Okay. And question. one Understood. last

revenue inventory the can this or $X And assume in we kind It $X.X about What in its demand only underlying should off build if million was stocking of talk you loading that did that were might there RHA and onetime million be the any – kind there? number? a demand? Or was of quarter. just quarter. You of partial

Mark Foley

Yes.

So great question.

are in product, fact at initial why can a order of reflect bit in with you if good to can the not is they RHA it the so just get really every fillers give amount a it. because sales new a a sales look I where a mean as that's think product, I experience really buying these the But account we're they for position different. it's guidance given early. reasonable that you little our is tend But so – they patterns yet imagine, September. to purchases,

are think to premium don't QX, I for not sort very partner three So deep, know reps category early this make going people should our to take we're month going with on to the by committed focused September sure to. multiply very that that we're create. it looking are of us wide and you these sort that that of we're that because accounts that Again

reorder given And just too very getting that the And to but it's what we're right a the feedback is – going launch. one early our cycle it's going give to Again, certainly, a out of positive is little that just it's product report So think you early what more to we'll be. very we to bit the know QX obviously able strong into is of start, I now. be as look like, I insight it's month stickiness numbers.

Tim Lugo

for color. you the Understood. Thank

Mark Foley

Tim. Thanks,

Operator

the from comes of Belanger question Company. & with Serge Needham next line Your

Serge Belanger

Hi, good afternoon.

of for questions me. a Just couple

recovered what talk or they I patient about levels? pre-COVID have from Mark recovering for from one first you're filler secondly physicians mid-fourth consumers? And the tell the us recovered quarter? have for you seeing current you Can pricing. still are where you priced just And guess Have RHA they And through product they to then Can on where flow their product relative levels? the the – The price Dustin. competition?

Dustin Sjuts

Hey, Serge, it's Dustin.

as patient talked is flow, the HintMD on I it We've think been we patient flow a back. I think really surprised. The pleasantly well. little the bit about on coming side

even different. practices most we're doing pre-COVID some right course, levels. that above But in states the well, seeing are practices are at Of or aesthetic

changed, time a think flow are people people done Specifically and about that has the at their injectables, to with practices, home times at get procedures time. have while more at you the into getting facial office

by now, are an pretty we surprise a and feel manage right the manage manage of flow upticks. trends markets in now be before We're caught to they about the on we how their as seems but they flow to any staff, really how They things. But offices the they thoughtful eye patient practice. do good see in been position so restrictions good. And other have keeping certain new them like the

position. feel they're a good they in So

side, I for in consumer. you to RHA what before, speak to the we similar pricing of itself terms the to really drive the how the innovation On mentioned want

is practices that consumer. So we to do set price. believe the product that RHA a premium-priced The

we've And consumer. X% to slight a what the seen XX% so is premium to

have set for that uniquely a Now policy allow we again, to to don't advertised. we be Revance, price where

that who's resonating, subset its it's price. philosophy feel really So best deliver accounts. of the delivers to a is therefore versus who allowing going We focus the the to by us best consumer on information gets outcomes

at is above pricing really currently to hyaluronic doctor marketed which with the And so at in to in practice be however, the where the current they're acid with products. allows products, line or margin

Serge Belanger

Got it. you. Thank

Dustin Sjuts

Thanks. Yes.

Operator

comes Prasad of from question with the line Your Barclays. Balaji next

Balaji Prasad

for it has Thanks afternoon. Good of taking questions. been Hi. my answered. Most

a left Just of HintMD. on questions couple

So that thought can payment which of you kind of million. the you million mentioned to total at this between we're to that secondly you on opportunity amount X%, getting the revenues you mention $XXX I I label the it was the what it's for connect reported, days. which $X.X but would around seems process and is was the the Again on X.X% most duration. on DAXI, more X.X%. the is And early question understand

lines? mention a looking And for there those weeks the what explicit we so XX to understand than more is to can be ought be Is indirect you Or help or it us for? there along going less of contraindication label? use something where is

Mark Foley

questions. great Balaji, Yes,

of would side that or we about of participate on XX it. to talked HintMD the of previously overall We've first credit card points. charge that and So sort basis expect in transaction the XXX processing

between and in year go low of So that the to if we today. $XXX,XXX talking payment beginning end you you're the processing the of are where revenue

$XXX,XXX that do to? in up the So side pretty of of things. actually processing sort Toby, transaction QX lines with you well want

Toby Schilke

that year $XXX for XXXX. XXrd that million close And the closed in QX XXXX. of cumulative post the which July just And note was revenue number acquisition is the Hint is to Yes.

Balaji Prasad

Got it.

Mark Foley

feel about very line that's we good So and that. in to much continue

revenue talked payment ultimately to with value evolve generated. we're good choose from partnering very As whether that allocate generating out revenue the being to continue that's ways we but too before could we've we feel I that sort think overtime, that we of how figure the stream

I think be discussions of appropriate kind Your question the agency. on -- in label of to about just with falls not that for it's the the us category commenting

I will to we commentary back refer However, you prior had. that

labels, we at programs, feedback and data lines, had, that reflected in we've the If from ever the being about quality largest feel precedent very X to label. the you continue our look from in SAKURA agency, glabellar good X guidance the trials the our of

update agency. that's commenting to So kind sort of active the policy typical not on the follow of discussions going inspection in with we're than terms other of our

Balaji Prasad

helpful, that. I Mark. understand That's can

Just one fasciitis. plantar follow-up on

of year? studies you So to or are chronic direct program migraine towards regard Thanks. when it migraine how indirect any fasciitis next read-throughs with think there you the starting develop from plantar

Mark Foley

it's secondary to some injury. looked treatment opportunity. be at understood. currently thought Yes. Balaji. fasciitis, underlying It's good any a we looked certainly results terms the No, it is the other clinicians Phase X think Again published that in talked and we why We is question, fascia of programs. plantar into I read-throughs approved course plantar well the been of that's all of very very to one muscle could pain of things that it movement from in data it's some indications different. the have It's But great the And fasciitis disorders. as not in are that of a at a physiology different that disease, there to

view where and to in way markets, so, would we frankly way a don't think a those it ability opportunities value. any that longer duration we have of And or sort have differentiated opportunity the the product in impacts our existing

on we'll that II get we those then clarity continues we Phase will in So, kind that firm think we data has again go-to-market are the coming about of these those. in way an, layer it clinical it in when help and sort start start to CD have strategy. where with inform the we with if the a strategy migraine? not as be that out Clearly ULS, up. data QX changed when we other And to more our And of of the programs,

Balaji Prasad

Thank you.

Mark Foley

Great. Thanks.

Operator

The from H.C. Tsao the question comes next Doug Wainwright. with of line

Chris Bialas

Hi, how Doug for Chris doing? are today. on Bialas

a potential is were going I was So guys how the filler impact commercial have in contingencies or could to or I plans DAXI event a in you of delay for what what there to all plans remember, you BLA, line Thanks. this? the that And if the mentioning delay wondering, you co-promote HintMD? the three. do this mitigate

Mark Foley

of due launch of RHA great something question. be when There's we've It's always the to already been this through with it. to filler sort the line and the there's going a puts impacts COVID already. delay Unfortunately, takes in that once

a strong to that position. still be restate not date. before inspection want I PDUFA again, will or we're talked But we've hopeful there in know there cash first and our don't So about there whether will is delay. we incredibly is, be foremost what We're an if

feel of the our as million launch. about good end $XXX of almost execute really the QX. got ability sort we've of So, to We on

being of plan small talked we So that's sort two launch Number about we're of what kind similar inform XXX kind launch with of to being through one. we sort sort with QX of being right launch QX going a group about now of RHA the our injectors the then optimal neuromodulator and for fillers. number PrevU a when approach of the limited a talked to QX

and to a there not look kind we looking or if And ways compress minimize of see delay be were at so, are if any be whether of to we ways at that that obviously, time any we'd can frame there impact. if to

to products the focus and necessary that time. launch, our stages sort sure changes additive certainly on help market HintMD. -- think that and great we with more perspective, over really from does these if neuromodulator of where now three adding these little anything And additional we together it the in RHA a both bundling and these way the will the any However, in two traction a allows while products with I in fillers platforms. us that of bit be becomes leverage early add make it the focus don't to right get the and can adoption of their

think And sort on mitigate for the clarity like really inspection. any good they assets we of up this. launch we because strategy. show had said ready we opportunity more our current and impact our So, of to wish of whenever we've market We're a got end dollars I because our

Chris Bialas

you, Thank much. very

Mark Foley

Great. Thank you.

Operator

Mr. this And you Mark to questions over Foley. turn have now the further back no call at will I time.

Mark Foley

Great. Thank you, operator.

for thank Suisse, free plan we directly through at that, your welcome like We if Feel to schedule healthcare attend Sandler Jeanie, reach Before to and for some you you'd to meetings events out to I request the these all Stifel conferences. participating us. With would year-end, Credit call. virtually Piper like to time. in today's

Operator

you today's Thank you conference and Ladies concludes gentlemen, disconnect. now and participating this may call. for

Revance Therapeutics (RVNC) 9 Nov 202020 Q3 Earnings call transcript