Revance Trumpets Stock Offering

Revance Therapeutics Inc (NASDAQ:RVNC) reported a $100-million common stock offering.

The Newark, California-based Revance, a biotechnology company developing next-generation neuromodulators for use in treating aesthetic and therapeutic conditions announced Tuesday it expects that the underwriters will be granted a 30-day option to purchase from the Company up to an additional 15% of the shares of its common stock.

The Company intends to use the net proceeds received from its offering of common stock for working capital and general corporate purposes, including clinical trial and related expenses, research and development expenses, general and administrative expenses, and capital investments.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Revance is leveraging its proprietary portfolio of botulinum toxin type A compounds, formulated with its patented and proprietary peptide excipient technology, to address unmet needs in large and growing neuromodulator markets.

Tuesday, Revamce announced 11 clinical and non-clinical presentations for DaxibotulinumtoxinA for Injection (RT002) and the company’s unique proprietary peptide and formulation technology at TOXINS 2019, a leading international conference on neurotoxins being held this week in Copenhagen.

Revance shares went south, however, $1.65, or 8.2%, to $18.54