Evolus, Inc. (NASDAQ: EOLS) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “Evolus announced after the close that the Initial Determination we have been anticipating from the judge overseeing the United States International Trade Commission (US ITC) case has found Evolus (and partner Daewoong) in violation of Section 337 of the Tariff Act of 1930. While the companies are asking the full Commission to review the Initial Determination, and the Final Determination in November could be different, we do not believe we have enough visibility or comfort into the ultimate outcome here to continue to recommending Evolus shares at this time. We downgrade Evolus to Neutral (from Buy) and lower our price target to $3 (from $8).”
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About Evolus, Inc.
Evolus is a performance beauty company with a customer-centric approach focused on delivering breakthrough products. In 2019, the U.S. Food and Drug Administration approved Jeuveau(R) (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure(TM) technology. Jeuveau(R) is powered by Evolus’ unique technology platform and is designed to transform the aesthetic market by eliminating the friction points existing for customers today. For more information, visit the company’s website at www.Evolus.com.
Jeuveau(R) is a registered trademark of Evolus, Inc.
Hi-Pure(TM) is a trademark of Daewoong Pharmaceutical Co, Ltd.
¹ Represents unaudited June 30, 2020 cash, cash equivalents and short-term investments of $85 million plus gross proceeds from the closing of the $40 million convertible debt offering.
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