RVNC - Earnings call transcript Q1 2021 | Revance Therapeutics, Inc.

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Operator

Welcome to the Revance Therapeutics First Quarter 2021 Financial Results and Corporate Update Conference Call. [Operator Instructions] As a reminder, this call is being recorded today, May 10, 2021. I would now like to turn the conference call over to Jessica Serra, Head of Investor Relations and ESG for Revance please go ahead, ma’am.

Jessica Serra

Thank you, Donna.

Joining us on the call today from Revance is President and Chief Executive Officer, Mark Foley; Chief Financial Officer, Toby Schilke; Chief Operating Officer and President of R&D and Product Operations, Dr. Officer, and Therapeutics, Technology, Commercial President Sjuts; Chief Innovation of Aubrey Joshi; Aesthetics Dustin and and Abhay Rankin.

any expectations benefits the development XXXX During make company’s this operations, technologies, significant timing our and of manufacturing the and timing the candidates expected current involves financial the commercialization and Revance’s outcome timing and Northern risks and the California meetings, FDA’s forward-looking will the product the forward-looking product approval potential clinical related guidance, of of and X uncertainties. of The statements, it milestone including plans, opportunity market Aesthetics facility, potential cash business are conference expectations statements of injection related planned runway and call, of DaxibotulinumtoxinA strategy FDA. drug based of These launch submissions inherently, next-generation our and on management the inspection performance. RHA Therapeutics our for to franchises, and HintMD and our statements candidates, the approvals, to the of regulatory industry, by aesthetic platform,

to on new obligation in or measures in Foley. A Mark? to different non-GAAP section information, call a will as be to no non-GAAP earnings With forward-looking is XX, XX-Q company result current undertakes its today’s cause of Our of the turn statements uncertainties. filed of present we from changes and or the financial as differ duty this release. titled risks and could from both any events of reconciliation these I update the call, anticipated on results could to results in the on these will Revance May be the forward-looking report that, XXXX. GAAP with statements Mark Factors expectations. describes statements events Risk that those Also included and Form such in over actual to include future materially a factors our our Factors measures. in afternoon timing GAAP SEC result

Mark Foley

everyone, quarter you afternoon, Good results Jessica. first and you, conference joining our for financial thank Thank call. XXXX

Before lead glabellar first quarter, I our for an for cover I’d injection product, for update commentary like provide the DaxibotulinumtoxinA provide on BLA for and the to lines. the results

comment Our procedure review of the the is status operated standard to process not ongoing on interactions FDA our agency. with or

given created and length with of However, provide COVID-XX community since has that it PDUFA to investment important that time that has environment the unique we date, the pandemic the our felt lapsed was update. an the

preapproval scheduled has of related FDA our of inspection manufacturing due Northern facility the conducted the As travel today, California or COVID-XX not restrictions. to

had engage While with now, an to have and as facilitate leverage an possible. by available soon to inspection continue we we all date resources as FDA the expected inspection to

now make provided the inspection will announcement we official timing. term. its which recently with the of that an manufacturing in the most area communication the country, site, from particularly will issued encouraged the anticipate geographic an Furthermore, in the regarding going we the planned COVID date We’re approach inspection FDA our outlined ramp-up guidance decline the vaccinations cases, we once receive the in see in date, to also near agency’s to comprehensive FDA be inspection forward. Combined we our across

facility to XXXX restrictions. travel of reminder, our deferred was November PDUFA our a the As of inspection by due to conduct XX, the COVID-related an approval to of inability date due BLA FDA’s

letter. anticipation drug unique of And introduce are inventory the product market. continue a in we complete review to Importantly, did response not any the FDA We and outstanding other to the did beyond product soon build as not support an is aesthetics this into receive eager able the facility. agency and visit approval inspection ready remain inspection, pending on-site indicate as we our issues to to

turn Now, let first to performance. quarter our me

Following continue RHA to franchise from quarter pleased increase volumes our HintMD the see our a dermal a despite fillers momentum of Aesthetics first the successful COVID-XX collection in the into processing impact of saw in very -- revenue delivered entity despite in our strong we’re robust and fintech commercial XXXX, from XXXX. in late COVID-XX the transition be QX our the confirmed products year The of premium we further another being seasonally demand focus X the targeted company with for a by will and That for anchored a results is launch our and year the on market innovative ongoing playbook priorities. for strategic facial These strategy. historically services said, commercial validated and slower injectables. quarter and XXXX the for undoubtedly successful execution. exciting platform,

and launching the approval and collection the daxibotulinumtoxinA we targeted product, same is injection HintMD FDA used our obtaining on products platform. neuromodulator for for RHA that foremost First the and approach with lead

on Our second to strategic in priority Aesthetics. commercial is deliver our strategy

segmentation driving with partners. elite market premium launch our are We prestige practices and strategy, products and targeting

approved, our once X the version portfolio introduction the the broadening platform. Aesthetics ahead, of Looking about of are with we and HintMD next excited RHA

We about in that our and in call. more cover the later will on Aesthetics, are excited progress Dustin

to Therapeutics the of muscle movement care to benefits we the Our DaxibotulinumtoxinA for standard disorders of new and priority where relates proven third franchise, clinically patients. our strategic set bring plan to

and I’ll or III limb end Phase request we in have study spasticity year, With that begun in this therapeutics for the our safety the Phase AULs completion open-label expand in meeting and of on of call. dystonia franchise, building commercial later our the submission expected of II foundation upper adult our cervical

XXXX. is cash priority capital allocation. on sheet Our strategic and fourth We discipline a with continued focus XXXX and entered balance the into strong

strategy from to make supporting realize objectives also today continue on our we near-term growth our strategic focused investments long-term execute while the will a initiatives. allow ensuring are and that strength to us our We position of on

offices fifth opened in year, for more its, relates cities in which X years our Our the drive people to additional and establish ability sustainable sales than priority and national XX critical ahead. final XXXX to organization. are strategic and in to our growth doubled Revance last a

and talent, culture greater environment employees welcome, working for build and but only also and This to feel all is where a is innovation to feel not to positioned for ability supported are we continue fostering it our retaining diversity we good in summary, we important lean empowered Throughout and and business where commitment about on in are critical. headed. all, a very attracting inclusion. Our where we In strong outcomes.

targeted data team. the and delivered Coupled of strong performance consecutive lastly, commercial maintained anticipated lease year body our clinical over forward With financial differentiated quarters with X look the for have DaxibotulinumtoxinA, to We growing product, and turn of and the the of our results through Aesthetics neuromodulator profile who key solid a call dedicated will incredibly mask of strategy, of consistent a quarter. in talented profile; a the supporting catalysts another FDA an notably delivering built this year, we launch Dustin, business first significant our the growth. of approval I’ll performance cover to most that,

Dustin Sjuts

year Aesthetic Thank executing infrastructure support We off started our to on you, scale. Mark. and growth squarely optimizing the focused at our commercial strategy

and RHA Our quarter and strong quarter in results of which substantial driven paid exceeded were elite provide XXXX. is More HintMD, processing HintMD, inroads efforts reporting expectations our off volume. ended we first the the and increase as with sales accounts we service. run through value superior elite embracing forge over practices both in practices elevated a key with X,XXX exiting largely innovation, from mentality their heads reported to by internal with partners. are the opportunities approximately the across clients at rate $XXX and $XX.X and a total These with million down X,XXX for million accounts to We more our over outcomes RHA year-end and added

we very by We’re launch HintMD. the establishing the encouraged brand are the Revance early through with and RHA of credibility Aesthetics

a of leveraging With were increased to face-to-face injector while education for also across supported our robust more Our the training programs country, vaccinations REVANCEU. ramp-up we virtual training, strong conduct also were by results quarter the platform. able to

began training trends believe we the month doctors’ in These point inside in The offices Aesthetic commercial conducting for our time and fact, ahead. the the meeting serve first will Medical Miami. tailwind last of Aesthetics all months a the our we industry, recovery which first story Conference, as In-Person attended to to In

prioritized content media, a and practices also distributed social we website consumer in activation and ways. of their created quarter, be across and platforms. by We the CRM used suite to During multiple

our of driving flows goal consumer with initiative clients practices We more and also motion and continued through carry the channels across the targeted that campaign to digital collection. RHA

Turning to HintMD.

opened unlike a such but potential solutions, subscription opposed services, recognizing that broader rate economy The the to our customer complementary aesthetic-focused to increased account also as HintMD payment fintech brand. the adopted sales increase up. the is are the the due from future practice processing opportunities optimize very only complemented by see are analytics. as to double a to volume wallet, has aesthetic cosmetic benefited HintMD economics We features cross-selling for and current with potential as rise HintMD by as HintMD quarter. build adoption offered And only in specific service the data and white-label than and team. aesthetic Many markets that practices to pleased first in not loyalty was loyalty promotional a generated today, has the and aesthetic RHA platform. rate the the practice programs loyalty a This patient in with procedures penetration, more largely run

practices reasons, are these For in. leaning

launched the the increase on next accounts of HintMD. number further and to is focus release near-term platform of the Our

We’re customers’ unlock of and and for in our the PayFac the believe beta months. this both the release in coming We are on tremendous value integration launch for of phase track life. Revance will

we participate As loyalty. thereby processed and value and a PayFac the able data margins level, the to source to be at credit increasing build transaction right features our will new will we able time. economics functionalities enhance of practice customer transactions processing the on Further, sits since and the payment leverage in more over facilitator, be to card chain,

our We the commercial so that growth can at support quarter also scale. strengthened infrastructure our during

Nashville practices the education are and partners. headquarters will near our serve corporate and Experience stages employees, training key for final which a building center, and out hub as We of

excited to learning industry, a continue the sales meeting needed our kind grow on national brand showcase continue hosted the on second in-person resources for meeting. focus expanding and center quarter product the In our access and to commercial force, Our live execution. with experience included we first and be will to portfolio. and to the The our franchise. approach equipping of end differentiated further enhancing we as in safely first to very our successfully Aesthetics training its Overall, and the April, our to active team tools sales we’re

over Mark? call to the Mark our to turn discuss I’ll Therapeutic Now, franchise.

Mark Foley

Dustin. Thanks,

to spasticity. limb opportunity our from for Juniper reported results study are this Phase to In quarter. III treatment provided continue us positive data of trial, adult the program. for also seen We strategy profile muscle upper we across for of showed It to for as cervical our clinical the our with advance the disorders II see clinical The injection, a necessary duration movement Phase our pleased support dystonia in therapeutic our daxibotulinumtoxinA program aesthetic February, injection and daxibotulinumtoxinA XX-week dosing trials. consistent

Phase cervical is of safety open-label for With the study half franchise meeting our commercial II the shape. for III completion this in take planned the AULs Phase year, and therapeutics end beginning of to of dystonia path our second

and For valued There lower global our to is is along the in limb in regulatory XXXX. and in and The the to category. unlocked by be XXXX. we XXXX the $X.X value complete over meaningful program, market dystonia $X is at filing our cervical muscle anticipate cervical for billion currently dystonia with plan and development, exceed projected upper which billion movement which in spasticity, spasticity, is disorders furthest includes FDA to approval

States, Revance. for of representing Importantly, a opportunity significant nearly the opportunity XX% United resides that within

to have our biopharma market several hires Vice been strengthening care while support infrastructure newest Access. our half. better has We’re promotions, has DaxibotulinumtoxinA and only and including has from its patients about commercial beginning XX this neuromodulator, profile, strategy, of our on we have our on price focus and our short, our stage with are pharmacoeconomic drug’s of health and as cut required excited leadership duration clinical system. therapeutics. progress, efficacy building prospects the go-to-market Angela therapeutic benefits by treatments also to on in areas, a team to made more to the In internal out potential To appointment, President will who our system to and the substantial but years of end, provide migraine. including number Angela not in Based the and neurology serve multiple we key across than the to focused therapeutics to Market treatment to experience unique relief of the that brings our ability safety next-generation transition Willis, access providing market strategy leading given and that

in the which the years about in team excited We’re support have place, in growth strong will therapeutics our we ahead.

dystonia the Before advancements over enrolled lines largest to trials cervical announced market market the like and on Shanghai the this in our partner the I in and would call a In daxibotulinumtoxinA to Pharmaceutical partnerships. establish I briefly our their for Phase Toby, world, second like Fosun touch are in injected in glabellar neuromodulator in we China the Fosun. China. turn first and we patients great company, attractive excited about potential III foothold industrial through to April, a their recent is

to to ability neuromodulator of package neuromodulator and With the cover both category, our for FDA aesthetics Toby the over that financials. III program. encouraging BOTOX I a to biosimilar first the with the short-acting are also Viatris, the longer-acting while that, agreement now This Phase to therapeutics. participate for to collaboration is our development turn call are quarter in prepared our we a in on in briefing launch we will submitted nicely. Finally, which the biosimilar is progressing recently We for an pleased

Toby Schilke

financial Thanks, revenue on $XX.X from from the highlights HintMD for $X.X results we million Viatris Mark. BOTOX earnings call. our revenue, $X.X and collection the to issued partnership platform. this million The our first release fintech in $XX.X Total touch will on full, million I our was outlines quarter, so biosimilar today on included which with RHA the in million

As payment were the accounted Dustin run received growth revenue. million over during for volume as the HintMD’s volume to quarter. devices processing $XXX for earlier, processing increased growth primarily mentioned lagged Revenue new rate a quarter that practices because

for translates of to is we measure the performance It volume the our account processing processing HintMD revenue activity, and platform. potential. account As the indicator penetration to best have indicated directionally both and way growth is before, the leading which

administrative to collection pre-commercial the and to depreciation for and related XXXX Turning quarter operating headcount-related include general HintMD. expenses expenses sales reflecting and were first for expenses. and stock-based and for expenses activities fillers, the $XX million, expenses Selling, compensation. dermal SG&A amortization marketing daxibotulinumA RHA of

trials, million costs Excluding these developmental million, and development quarter regulatory quarter expenses, for related to first expenses non-GAAP the $XX.X amortization compensation. SG&A and license expenses application support R&D and XXXX. first stock-based XXXX depreciation were for ongoing expenses reflecting for the efforts. Research $XX.X other totaled clinical include biologics and

first these were the Excluding expenses point expenses, were XXXX. quarter expenses operating non-GAAP the first of R&D GAAP million for $XX.X million for quarter. $XX.X the Total

stock-based and million were operating Excluding the of for depreciation non-GAAP compensation, $XX.X amortization expenses cost revenue, quarter. and

believe $XXX.X to short-term plan We and we investments XXXX. in sheet to perspective. of from position as million, which Cash, strong XX, balance a financial operating continue cash our equivalents XXXX, were a is March fund sufficient be into

operating our confirming we and million. operating to non-GAAP to terms between million expenses previously GAAP $XXX outlook, million announced between $XXX of million of $XXX expenses are In XXXX $XXX

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

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

Mark Foley

Revance, updating XXXX and you all with we a upcoming Thank year. key continued well and important a pivotal number Toby. the progress look we throughout closing, Aesthetics be to catalysts. are the and making positioned strong the we on you, growth year of priorities year our In will on in franchises believe delivered Therapeutics for start to another are for both forward of we

adapt employees have their up a achieve thank efforts pandemic not the I this Operator? in each COVID-XX successfully of to commitment now The and I to found our strain Lastly, placed families, only to to tremendous With the to their other. questions. goals. to and allow for yet call the way they that, for Persevere our team a so support company tireless on us but will take has opportunity open want many

Operator

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

Ken Cacciatore

just wonderful really Just unexpectedly strong. performance,

to you, congratulations all. So

than delayed clearly we’re on bit hoped. a Just little would wondering have further as DAXI we

way be originally the You’re going in obviously thought when to a with you than introducing to establish differently were able the products. relationships probably clinicians you

to DAXI, on prepare. inspection, get And So to part accelerate maybe help game understand that it? more approach how connectivity does the I wondering time you was your it maybe certain then you when accelerate do plan? we finally trying way any wondering get level original time once Just just of the training? bit how had you’ve a allow you of the to changes Does of now, DTC little you’ll to a

Just you’ve you really around? kind walk-throughs? Are nail scenes? the make behind mock consultants just can that to it sure take do done of Is the you having corrective you’ve action to talk been about time what we any able there first

Mark Foley

So you and first based neuromodulator the that is of yes, off, our in portfolio. combination that have in about products having strategy services we terms point of suite the and great of the the thing out, is the delay impact, on our our as

of I the RHA our leaning really the to to neuromodulator if versus highlighting it’s on with and on the line more So of benefits do good think lead the fillers, of be the sort anything, there. allowed fillers product job of a line lean-in us

of that the you overall we’re we’re very getting getting relationships an time portfolio. that So that certainly be and the with we’re product, obviously out, broadly with do that partnership. broader of establishing we set kind ultimately will of in doing a entrenched relationships we’re by neuromodulator market, we the the obviously, encouraged our launch group feedback as and And that point by traction the on expanding

over leverage market action we’ll So in the able today. we’re that seeing we the to do certainly, think be time, that

preparation overall side the absolutely. of On it,

of we with test preparation in building where inventory great downtime mock actively a of sort their to for been of And advantage pressure we has team and experts have taking done to launch. do this outside consultants Our job audits engaged are systems. our

We’ve aren’t things trained there. So our actually sales as changing well. force

we we’ll leaning ready certainly And comes. to and in, so be be once approval continue

Operator

the comes line from question of next Your from Fernandez Seamus Guggenheim.

Seamus Fernandez

guys, a quarter just great as So questions, well. couple on congrats and of quick a

impressive. guys On practices of maybe at in a fillers in. What I the say of really kind in actually you’re you guys competitor the resourced do very know headwinds been it are you the ground? be the is Can launch just significant you once that this seeing give of us how point fully the you you this. sense have that feet uptake the the fillers, share are bucket? perspective? RHA second you for market to directionally given pricing? that Is from like its to within seeing as Obviously, -- would product obviously, has But are about seem feel like it’s performing are you’re the of where think then on question, just the the we just really get impact? after And And Is the going of product biggest have execution use it your opportunity it DAXI, the the the would available? a terms quite biggest opportunity

Mark Foley

Seamus. Great,

of would of use seeing it where comment and I kind we’re will Dustin in break then on one buckets. the sort we of products So part the X it. and first take of down the kind first have of

understanding like. look the in profile what and going overall obviously ramp is adoption still better account We’re overall to our early

the They So product the it’s product. we’ve that in They think accounts some out got best heavy. like there. leaning are

the to products they’ve And this of them. pricing, advertised workforce prestige the of of product, the going decision, that, share either the through sort the is so approach main strategy, be now line because for of the their majority we’re a filler the really getting kind relationship, made

pricing they’re those going like the They But so products. up group to until are the second market only other have because product to want The bundle leaned the in. really across give comes the us neuromodulator and into don’t break share they incur much that higher product. our

I We use are and who fits have did "Hey, like will we that, it their I in feel I’m the right up I those using they definitely whatever group they talk them, for come usage the to neuromodulator here, it. are have want using like And of this, neuromodulator. and we it product, have some got I but then but when for is and back found the where where reason, it, the so independent accounts that them have the it approved here’s tried pricing, to limit cap alternatives". it, filler they I’ve customers break And next me product if of for of not it’s like will of they your it sort bundle. until we because for pricing. either, don’t the

had story range, strategy X but working. is so got performance that now resonating. we’ve with obviously, broad the consecutive And the we’ve a for The quarters, is

in we’re sort see the really prestige the disciplined after We’re of value category. in that going that accounts

know, have sense further has so kind for it better to morph then I seeing buckets market. in And we the I a And neuromodulate launch, get where more are don’t the as I usage we’re have we’ll again think the we the kind later into about ability talk think and out. you want shaking to of if how particularly? those Dustin, product of once

Dustin Sjuts

Yes.

some while time, is the range, others. to right? the think using technology that nice is, than variability, for an resonating. it the halo what’s it one accounts the launch I hit we’re more head But framework on at first You’ve company you there’s got entire the

have started we once it’s whether story fact to And then what they’re consumers. acid they a X, In hyaluronic X say is opportunity X. the their least fast, to get are nice with expand. we’ve that allows it’s the I’d got practices most or that, an natural for modified deciding practice

continue needs the of us for off grow. There’s a so. to started just to we’ve on fit. build doesn’t based situation but of practice, even think that we the So found I it really where And haven’t the foundation it varies opportunities

Mark Foley

again, business. going relationships In competitors terms some stated I think strategy. headwinds our of up have who the against the But I we’re and DAXI, in long-standing we’ve for formidable mean opportunity

and it be We’re exclusive. services. We’ll products with coming leading at

going practices. with leading to We’re deal

continue for to put on pull to end of with our that we and So at with to drive building to day, to demand. we’ll see resonate that all. more harder lot competitors and try going in again, and create DTC heavily it customers product, to everybody customers a make But awareness not expect incentives to our the it’s efforts think some the trying consumer either. of to everything not strategy different, the our But is we’re I and shelf, be

encouraged And a I the by also to this so we’re return and would healthy traction seeing. is a we’re say sort very that seeing market. we’re also volumes, normal of

at some And all we’re Procedures in are consumers are marketplace growing, the so winning level, out there. engaging. more

that of kind lift, benefiting everybody is So too. from

And game not just so zero-sum a it’s necessarily either.

Operator

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

Terence Flynn

versus was respect you or of in out guys to opportunity might as you I occur seeing about recovery tell comment you manufacturing what the with quarter? there just you’re this marketplace, any broader, inspection, international speculate on And if timing earlier wondering, March maybe for you could update think DAXI? Great. Aesthetics, trends thinking think And maybe that how about the us the in in the here the then the if maybe just you’re could year? then

Mark Foley

the XXXX. end be again, market that and timing, to of the we expect approved off, So on continue inspection first the we’ll before

and COVID the week, manufacturing date our out we things. remarks, The feel date engagement prepared with leveraging an based California in unique not-too-distant to updated numbers certainly provided my while to how with in an last are their do a ongoing mentioned be we will guidance, future. be As continue to they’re the inspection comments making trending And receive Northern that announce resources, once down the these will going I look the which in not-too-distant recently, we most wouldn’t the on we from about comprehensive in again, the expect other given is. date, agency publicly put is COVID approach at Again, area in if we agency environment, just we’ll our date the facility future. inspection that agency. typically, And you terms goals of our stated get where we

able let sort we’ll So maybe we’re what be then a of share. And trends bit the to and seeing little about that I’ll have talk to Dustin there. recovery

Dustin Sjuts

Yes.

I always You’ve in overall right? the QX. a complex, trends Athenian to industry seasonality bit are got from think QX

got discount certain pricing drive or behaviors. purchase programs different You’ve loyalty that programs

and bit it layer then complex. so on the it even makes environment, of top it’s And COVID out trend a complex more to

recovery, However, at looks are that up you’re think well reported our we the volumes volumes. is the to looking as it market I seeing processing how trending, from

So just injectables. practices are that the We we health data, first practice, that held. meeting Miami, growing, see overall that speaks to of was talked live leveraging the went that can to not in the more We about live meetings. in

well live as again as So has education travel. gone

starting You’re see increase to in travel.

Aesthetic feel market So good we like the today. of we’re in real a position for recovery the

Mark Foley

value the the internationally international U.S. play on the opportunity, in we think will clearly story as And that well. then

RHA favorable Having fair and that is can product drive focus said of of international believe a our the really that and size fillers all take we we real of the sort So platform, we return share value. feel into that And now with pick our best our this HintMD market, market. the the up and given that, markets dynamics in for the it’s right focus efforts U.S. to North pricing America. us the

our an given expand plan we’ll that to one our towards Going for China. because us other context is an more path obvious over U.S. regards plans, Obviously, more do global heading to go to obviously down of with Fosun, with markets. we in give partnership we’re and comprehensive Canada international but certainly the update year, we’ll in the sharing color with next of forward, we contiguous year provide nature a KOLs with But later do plan early in the time.

Operator

Annabel question next line from from comes your Stifel. the And Samimy of

Annabel Samimy

few. a had I

that Therapeutics a in of -- is people On on demand market? then those, there less. on have you sort in the upper areas us a gave bit terms are patterns? earlier of it safest and traveling the been in buckets First, data the to going this nice the any But might come Do you RHA reordering because spasticity, the commented clients. back. guess be of outline opening and aesthetics you in there various disposable a of Area travel already are the starting fillers, think have seems was And little do dystonia impact that you some neuromodulators which about forward we can in income share rate? anything up that growth validated. You if can have After cervical within talk study you finally, I commentary do reordering side. market to on there’s have limb extra

next So any guess, as of there? still been is to are any validated to what Or anything lend where update your here? that programs to new explore with to new have avenues going on areas and Are you stick move going you does thoughts neuromodulators I study?

Mark Foley

try these We’ll order. take and off in

So it’s on -- rates purchased just started use bit decision. little for because us to make reorder some of little want early they It’s the lean still see provide and board, kind they it, their some a the RHA it how they filler early, a they to context and side. to when on before

we quarter, but information, too seeing as we’re just a still we’ve So early that seasonally a share, it’s on happy for the little early. good we’re which got QX, with feel And growth be that. a slower like is it’s historically handle in think Clearly, bit to we’ll I encouraged.

you on we’re rebound those into volumes out there we I city. New results, the kind on middle less the But of they’re expect procedure of based a we’re And move market extra are after But longer like isn’t therapeutic practices, then slower a an now taking City, of disposable we’re Certainly, to be where for on the year. and there’s going that given go for little we’re after an there’s There lot side clear. pockets we a certainly, probably trend, difference these indications part up higher-end last right The calling already market, improvement the others pretty to back think that one income. prestige our And very part as our to not accounts offers select market. very think of of still open And reporting encouraging in that a significant again, But as sort of of disposable York the that seeing healthy in of it, return in we Aesthetics would is start up. duration pain the the market. healthy a people But good, certainly I healthy a a hurt the sort little statistical plantar are will of healthy little income as if also got susceptible much are clearly, example, think it, saw fasciitis those trend where think way in we healthy than of very trends product a of a seeing some we’re tailwind. the on, the that benefit mentioned, to terms in we there. best where In our sure. focused but and savings. that is are to established going is competitors Dustin pharmacoeconomic there, also about a market more those growth, huddle well. terms overall, markets, And yes,

we more alternatives. evaluate that market, spasticity. So its those is about our But talked limbs we that Obviously, we’re approach mature something right in focus size our But going might a I win. adult now established it’s CD where to indications. be is that’s some as on now, focused other in market is. to due right think upper we’ve Obviously, migraine if historically

Operator

question Your line Barclays. of comes Instructions] the from [Operator from next Prasad Balaji

Balaji Prasad

on BOTOX. firstly, So biosimilar

that partner update of this there? same And around mean topic, on submission the since does thoughts time we a your any topical in So while this had been data biosimilar to it’s And terms lines? package. What the an topical on submit FDA they commented updated program. morning program, the

So what steps can you consider to be needed before done moving Phase that I? are to

Mark Foley

on then take product But the it, we’ve I’ll healthy, the where our the got efforts because formulation the clinical it, second comment to differentiated side a X Maybe of that’s support to really and Abhay we’ve data profile. on injectable ask the biosimilar on focused program. first topical

leaning right that And as injection. go for topical Obviously, revisit But now, in go on with is did we primary forward. we daxibotulinumtoxinA something the that we back in is we’re program, may that and that. so our all the focus on work

investor and into back more, provide question. the and take community if an lean a then, the update. certainly that to want come So when we’ll we to little biosimilar Abhay, And bit you

Dr. Abhay Joshi

Yes.

Bio with partner, Viatris. last our our meeting make progress since and continue Balaji, advisory initial So to the FDA, we great from with cooperation

to assess of and with agreement focus briefing with FDA. in position be I&D approvals. III for with after the the We progress the of share And meeting our the book, and timings the characterization filing our terms adequate is to And Phase on work are the in biochemical we’ll seeking on towards a steady making program. FDA, more data have

Balaji Prasad

RHA could If have a just I on follow-up X. Great.

around approval getting So in X. an RHA expectations you gave

with could we this a end of year -- realistically, the see launch RHA at for So X?

Mark Foley

Yes.

control But filed X. filing line, RHA So is regulatory ones sort that based and half, we’ve there. sometime the we everything the we the approval partner process. straightforward an time TEOXANE submission that the in has on the second our already Again, the that process. indicated They’re that assuming would of don’t drive expect on

that’s so introduction year. planning in an of would for, second And the this be an approval what we’re half

Operator

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

Tim Lugo

But date. difficult Congratulations and progress, for Street inspection on is of -- improving. all the talking the macro with thank environment, communicating kind you about the which hopefully about

it FDA of if from you’re guess, when a expect with sense data So months? you is I action? interactions long it there Do roughly how weeks? data the inspection, Is agency, from getting Is you is the any share the can it clean? your with us?

Mark Foley

Yes.

as point, typically I this. to given be everybody your on to we commenting we on environment, it wouldn’t we the So But thought Tim, that, level that. said, unique was appropriate set think on

be I are we know getting everything prepared. it’s into that appropriate to Again, of post-inspection and So frames don’t speculating kind else. time

get And that. date not-too-distant the from to And process then communicate support as do, ready we’re we’ll that future. inspection, hoping course -- stated. We we inspection an in once the an would we’ll there. we We’re its will take

Tim Lugo

filler able it and or earlier, gave neuromodulator kind kind that so of with who are those seemed like come, And those a in the issues waiting offering, they available? have kind it for use line, once to of buckets be increase their you’re rough both you people the of product you the the -- don’t RHA using products of of understood. right are bundle, happy your rapidly kind and with it seems second would and getting like to bucket Okay, maybe the us with of what given penetration accounts now HintMD see

Mark Foley

Yes. that with system, XXX% I it’s recognize not our accounts and the Well, HintMD think HintMD pillar overlap early, still there’s our between accounts.

and with So and filler got accounts given again, are and kind trends -- of it’s people that the we’ve share in HintMD does range, subset trying talk of where the working still we’re market a in out platform early and just way our a still it their about to figure their sit to process some wide everything, it’s of practice.

comfortable on inform will we as this think sort of back help we’ll better get year, and we’re the and I view the sharing. metrics what that So our of more have towards data more part

Operator

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

David Amsellem

of amount if I So the any remarks missed X, RHA that #X greatest one. there or X, gate in that’s then or just gain prepared franchise a number I talk you is talk RHA does the gotten you approval. Can the usage? a if out you’re One apologize fastest? in about, X this So foothold, on being -- of SKUs, what where which you think where competitive? guess, questions. And other just the and X the will? specifically, you predominates the analogous filed whether sort is your has products competitor I about more about of and terms of And it make the is and X. And talked footprint I to of Or adds it most the you on the to think overall portfolio? potential it Know can seeing RHA

Mark Foley

I’ll bit Dustin color. framing a and maybe little comments to provide a add additional then ask of couple of

split again, where consistent use of all we the relatively what’s terms pattern find a in mix the of In same not don’t the prepared interesting did cover of but all them. you is remarks, accounts that between amount. products, evenly the And it’s

bit. this Some of or And vary area. patients? practice things. people X their going area approaches RHA the deeper. like mix split Are pretty they they the imagine kind What can like will based for, time. on of it’s older? that look separate X say, how X sort little gels heaviest this is used I evenly the for they’re younger, I being for it now, And will so over right of would of a

might when on in nice of of It’s naturally but a little superficial. smaller and lines. cases, of adoption then used, it that there’s a sort for as see product things, much being a X very There’s that’s RHA that on sort per And a patient, volume used. perioral so sometimes that. broader it have on more really in the more you side X And maybe moves not market. be It’s will

superficial. as is it that very fine But there’s of unique line is sort out not as So really now right another there product is.

offering today, on will they to closest that a enhance certainly smaller and will it’s can the like RHa the do feel the want X if insights it and part frankly, do X while our of can’t that. add us give other X, the don’t I give don’t be door then we’ll X? market, color any and Dustin, on where that we that And if them to foot something X X, if know think, I what’s offer. a in X, so And will you accounts products some And for differentiated they a too different

Dustin Sjuts

X. well about you think X I X, and our pretty it hit

to product of all you kind trying the at to of shut an opportunity down that’s It it allows them taking for fits for them to versus create product. practice utilize think one this what to get them and have I us once. uniqueness to best use launching

just X as of superficial platform Europe. bit natural, hearing with RHA think, technology likely we’re market and will X of colleagues the linked larger over It X as most has the X, which time, that’s it very how concentration, same more a the has in what be unique. modified lowest product happy product some anything our off from do held also than the leak lowest RHA pure to well. But on I be based X, RHA, the X being the On have up today. of it’s we’re volume. a X used and allows cross amount So That’s bit

United will it being the in States indicated While specifically, other be utilized as for areas it’s which there’s in well. ,

Mark’s addition. So To lower it a should point, complementary that’s volume nice be product. a

product. of to not multiple going type of You’re that syringes use

will that platform probably just the some main isn’t superficial something products What a those Belotero being areas And resonating like add the so using whereas products use add halo well, most believe, some as currently some it that being too. I other innovative and of it as using also like able stands products it least of or they’re were probably in as well one is volbella available for we to is kind of nice the modified. will others, official for today. rounding. then they And alone and But, leverage technology is feel an what in

Operator

Wells And Securities. from comes line Chico Fargo from question of the your Hughes next

Chico Hughes

disclosure there today to additional very looking Based offerings. interactions basis Is additional deal to on an feedback your add potential on next label? XX a add areas you’re organic FDA, their has to additional over the on to thank months? on any with any then there much been Mark, Aesthetics Allegan And the the just announced inspection. for a you

Mark Foley

the sales to sales which we a injectable Also, look strategy. of offering, that’s when overall if and year, we all advancing we was a HintMD sells just services at same a terms the facial little neuromodulator other force we that effectively this that first, back going having market in And in force a market, to be So filler a those right? areas, you compete were critical facial leading go over company, recognize a that to injectable so in the prestige acquired products. that

As other about care, sales talking start force. as moving a into soon different skin areas, you’re you devices, breast,

area $X compete. in we to injectable the the in alone. the in filler feel got now, facial area category. the the right we’ve These We like U.S. think are I assets billion and right really So categories neuromodulator

open-minded. of to be execute. And and year But we’re If that we so Certainly, we to how there’s in trying further sort like enough to be injectable we we’ve advance we what very here. focus for positioned our important now would facial different time, build think this that will feel in And that we’ll we’re the continue products execute over now, well. And of plate got right then category. of FDA back comments, feedback our to it, discussions. the point kind any terms and to in the on second you we side that scripted one, of with feel continue I’d good able where market we’ll the hopeful shortly be not-too-distant we’ll the that and we future product to are an get that that on and get inspection the turn date around in thereafter.

Unidentified Analyst

label... Okay. Are they on Got -- it.

Mark Foley

it. I Sorry, Yes. missed

were announced the of at through agency, physical part stated preclinical, what on as when get of not point clinical, CMC, that XX, only that worked already had November we basically date was label, outstanding approved PDUFA and inspection item was with So PAI. the going to been the the that the our on-site we everything that we on else

the approved. get So to that need to piece product in we the order that’s last complete

feel about the pieces. with other all where so we And we default, by good are

Operator

[Operator Securities. Instructions] comes Vamil question Your from next from line Mizuho of the Divan

Vamil Divan

side. what you’re obviously therapeutic some couple touched migraine Maybe I just also coming? to later. but the to sooner than waiting more just move pursue competitive is going forward maybe decision it. make wondering market, So to the large I pretty for, a you think to competitors what’s I’m market get guess can want I of you just One, saying you pursue a sort guess, opposed of on. you for as it’s when opportunity guys matter the that a of topics guys the to be I if follow-up you on would a been have time and on know

been opportunity? And just thoughts I’m pricing. in anything launching talked evolving premium just I go-to-market and more that you a you’ve how bit, maybe your about economic that as more thinking a you’re so you may the updated there, new helpful? would into, different think if anything there’s potential premium share this has very and a the on also given other just of share you’ve about? maybe product there’s one, as maybe strategy, DAXI about you or price, could there especially be delayed can then backdrop curious little been be thoughts thinking on sort know So about you’re any

Mark Foley

spasticity. to therapeutic you in in market. supporting So cervical different first, on the didn’t clinical the migraine, have fasciitis, upper we wind trials planar X were if with dystonia, little of a ago, aesthetics our products independent any over limbs a back side year We

So frankly, different and capital we these a little bit a where were it allocation was things. of with

had we make best could to where about choices the we return. so we And generate thought

in was view a biggest capital that get market sooner share allocation migraine you size. lock it And And the kind the your the therefore, it, you so We decision. is influencer. large that but of the sooner very going, really was really certainly, of more

importance a franchise advance going And so that to getting when. is And this for migraine year. of we an this year, that given launch it’s if, of the said our something we’re aesthetics right, it’s and not the that not

some areas performance discussed benefit the so be going the for on that And also neuromodulator there. obviously, of of key in the feedback as kind overall and get move XXXX. product planning into of getting X the We’ll we cycle being gets market our to that’s

as that’s think that something well. help I us So will

into franchise therapeutics like that. So our do view. stay now tuned to is on come We starting

focused move to phase of and that commercial. starting out on We’re clinical are

we’ll start finally that some able credit So there. be we’ve in investments that we’re to for getting traction the made think excited we

a we’ve on historically the research, Also, to a into DAXI our millions stack. not a in charge can about consumers result, dollars be will everything of this premium, a charge wins physicians we premium, based We’ve nothing too invested and and our profile trying there. really category, the new hundreds their and we they that can believe duration everybody to premium innovation of we’re as the pricing, talked everybody. that On true fact that market pay that bring to and

money, But for overall think marketed we be sort more pricing of charge category enough everybody. that practices and some prestige to more products consumers and make we than stack of that it able pay ability strategy more to for have work physicians means will within Our will consumers that will the today. that some an

in launch market. it So to we on come more or obviously, details once pricing the the

Operator

the comes from your Needham Serge And line next question from Belanger & Company. of

Serge Belanger

one but weak fillers. solid a product this to First had this normally the don’t slower seasonal you give at I Mark, is market. for a what RHA want guidance on really know in time, the X, quarter you quarter aesthetics

in step So give can to about Aesthetic forward? idea what going you because much just it think an depressed revenues the XQ was us whether more COVID? of procedure we should And -- how is And down XQ how of from those volumes? usual

Mark Foley

Yes.

got given search on we pace, guess tailwinds. got fact it’s you’ve I filler headwinds the little we’re a new So and to little rapid the products a you’ve that in hard up side, mean, opening new ability tailwind I just right, the have mean, mode, because a some some we I by marketplace. launch at So more grow have a in bit accounts, the right?

an pointed to could to things QX you that up historical As overall as out, also procedure But volume got standpoint. from we’ve much pandemic. are as be trends, open XX% down the mean, the I it QX, starting

So we’re well. there as seeing benefits some

so -- hard. it’s just I And

to are those through We’re gets to leaning back the as it’s as we obviously certainly, it’s going that through in. another neuromodulator yet then that towards working amenable to people more and little for engage. funnel, our that year, the targeting create those of work our as And way And new go our part once we that, possible a our harder we’re accounts there. folks comes opportunity way also and in,

know in with performance the outpaced again, of still non-answer. But big internal early. sort QX, were very I our it’s It’s it a pleased we So expectations.

certainly, expect that that optimistic. to still the drive continue cautiously activations will phase that revenue of benefit and be to QX and given rate. the the We account get QX, reorder up, that in would We’re we’ll we’ll that we’re launch more

confidence again, we’re these And tuned. enough we tease to happy share out of metrics some some data So we’ve once trends. that have got to stay

Serge Belanger

Okay.

quick a Just on one HintMD.

NextGen you the of does your As economics volumes? what capture the platform, at presence displacing? can change there, And from you -- growing what’s the the the that with release processing all expand on

Mark Foley

Yes.

are So I of companies different there’s we’re displacing, a there. out terms processing who lot in card that mean of credit

there’s not fighting battle. or X and like share X, the it’s So we’re

a that’s third a have in reseller. be or cases, So a device by they’re some square device might card using that they provided might it credit

at some out has there’s of think bit sell not a expertise that industries, And Right next systems the version, in into companies really mix domain we’re level, a facilitator who we’re little different of until over these specifically of of for credit and we’re because go now, capabilities, developed there a variety designed competing right we have credit a and organized card bit company competitive launch And it’s we a it. now which they aren’t so sort of advantage, pricing. battling necessarily payment given I on card because our helps bit that a displacing. little large an an that lot unfair

of can functionality And you". perspective. more saying, credit the I’m turn the we loyalty, clear more "Hey, data in are be you is will some the give around also, people think when pricing, on the more value -- going, we me from against revenue able a stack payment be But ability little these started with some of have analytics. an to we Once participate I I to of practices. importantly, on of where to to we’ll platform white-label happy turn subscriptions, competitive that’s some card So like get this then a kind bit if facilitator,

to as we facilitator. hand and that holding, the until effort not will it we next would services sort the try payment any software of current that turning and be scalable. just platform, back to we it’s version ready through these part, that’s lot I a on. expect not think a some of takes Because go, have of that do it we on this We made of conscious start So move

software new better in, comes we be that. this for once So positioned upgrade think we’ll

good right encouraged out again, So some now that to results. we’re in beta get and there seeing

Operator

question the Doug Wainwright. from And H.C. comes of Tsao line your next

Chris Bialas

for Chris Doug. Bialas on

international -- also could So launch? as this? I Chinese for about wanted And indications? for line color I bit Aesthetic the the partnership. or When little do you to planning study are to what’s thinking do a time see just get and follow-up, was conclude just a on Therapeutic you potential When you wondering, are expect indications if your more you I

Mark Foley

you it to Abhay, why don’t over answer? I turn to

Dr. Abhay Joshi

Sure. Yes.

a great Chris, question Fosun So on the side.

advancement for support by lines both We the the are which, are program Fosun, clinicals glabellar with really our partnership. run of CD clinical excited into collaboration cervical about the GL X dystonia, and of in trials of indications we and our

at we will you trials in further the we so glabellar point, this With inform program our And progress other go as dystonia. lines the trial program. plan along we regards to only clinical completion and dates about initiate indications, for the to and cervical

Operator

time. over turn the this And Foley. Mark I’ll no to at questions back further call

Mark Foley

& your these requests Feel events conferences. you’d to through like call. if out we Blair to plan to attend in some all that, virtually time. coming like With the you at to to would In Healthcare Goldman schedule thank reach operator. for welcome Jessica directly William free us. meetings Sachs We you, I Thank the months, today’s for of participating or

Operator

This concludes today’s conference call.

You may now disconnect.

Revance Therapeutics (RVNC) 11 May 212021 Q1 Earnings call transcript