Following Revance Therapeutics, Inc.’s (NASDAQ: RVNC) report of positive results from its phase 2 clinical study of RT002 to treat moderate-to-severe isolated cervical dystonia (CD), Aegis Capital reiterated its ‘Buy’ rating and price target of $36 on shares of the company’s stock. Additionally, Revance is in the process of enrolling for its pivotal, phase 3 Sakura trials. The identical trials taking place in the U.S. and Canada will randomize subjects 2:1 to receive either RT002 or placebo. The analyst noted that based off of the results seen in the phase 2 CD trial, they believe it is likely that the Sakura trials will demonstrate an enhanced duration of efficacy. Results from the Sakura phase 2 trials are anticipated in the fourth quarter of 2017.
For more information, visit www.revance.com
About Revance Therapeutics, Inc.
Revance, a Silicon Valley-based biotechnology company, is committed to the advancement of remarkable science. The company is developing a portfolio of products for aesthetic medicine and underserved therapeutic specialties, including dermatology, orthopedics and neurology. Revance’s science is based upon a proprietary peptide technology, which when combined with active drug molecules, may help address current unmet needs. Revance’s initial focus is on developing daxibotulinumtoxinA, the company’s highly purified botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company’s lead drug candidate, DaxibotulinumtoxinA for Injection (RT002), is currently in development for the treatment of glabellar lines, cervical dystonia and plantar fasciitis with the potential to be the first long-acting neuromodulator. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of its proprietary peptide technology platform.
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