NetworkNewsBreaks – Revance Therapeutics, Inc. (NASDAQ: RVNC) Flags Clinical Milestones, Offers 2017 Financial Guidance
Revance Therapeutics (NASDAQ: RVNC) has three ongoing clinical trials of its RT002 injectable, the results of which the company says it will report by year-end. In a news release yesterday afternoon, the company also guided for 2017 cash burn between $102 million-$112 million; GAAP operating expense between $108 million-$119 million; and non-GAAP operating expense of $94 million-$102 million. R&D expense for 2017 is forecast in the range of $75 million-$83 million (GAAP), $69 million-$75 million (non-GAAP). Revance’s cash and investments balance of $185 million, as of Dec. 31, 2016, is expected to fund operations into the third quarter of 2018.…