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.
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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 neurotoxin. The company holds worldwide rights for all indications of RT002 injectable and RT001 topical and the pharmaceutical uses of its proprietary peptide technology platform. More information on Revance may be found at www.revance.com
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