==Revance Therapeutics (RVNC) to be acquired by Crown Laboratories

Revance Therapeutics and Crown Laboratories enter into a merger agreement; Crown will commence a tender offer to acquire all outstanding shares of Revance's common stock for $6.66 per share in cash, representing a total enterprise value of $924million

• Combination provides opportunity to create a leading, innovative, high-growth aesthetics and skincare company Brings together two high-quality, complementary product lines.
• Combined company's flagship brands to include DAXXIFY (toxin), the RHACollection (filler),SkinPen (microneedling), PanOxyl (acne), Blue Lizard (sunscreen), and StriVectin (anti-aging).
• Opportunity for global commercialization capabilities with coverage of >10,000 medicalprofessionals, mass retailers, specialty retailers, club retailers, and an ecommerce channel.
• New product flow potential through internal product development and an integratedmanufacturing operation.
• Experienced leadership team that leverages the strength of both organizations.

****

Update:

Acquisition by Crown Laboratories: In early February 2025, Crown Laboratories completed its acquisition of Revance Therapeutics. The acquisition was part of a tender offer that concluded with Revance being bought out at $3.10 per share, significantly lower than the initial offer of $6.66 per share announced back in August 2024. This deal followed multiple amendments and extensions of the tender offer period, influenced by competing bids and legal disputes.

Legal Challenges: Revance Therapeutics has faced multiple securities class action lawsuits. The allegations center around the company failing to disclose that it was in material breach of its distribution agreement with Teoxane, which led to increased risks of litigation, monetary, and reputational damage. This situation contributed to the delay and uncertainty around the tender offer.

Competing Offers: There was also a competing offer from Teoxane, a strategic partner, at $3.60 per share, which complicated the merger process with Crown Labs. The situation involved negotiations and adjustments to the terms of the acquisition due to these competing interests.

This week's biggest % winners & losers: Oct 18 - 22, 21 (wk 42)

The following are this week's top percentage gainers and losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top % gainers

• Healthcare: RDUS (19.86 +31.52%)
• Materials: IPI (48.71 +17.59%)
• Industrials: HEES (45.82 +14.78%), KNX (56.41 +14.05%), MLI (49.42 +13.98%), DY (79.72 +13.46%)
• Consumer Discretionary: GRBK (25.51 +19.54%)
• Information Technology: EPAY (46.87 +14.91%)
• Financials: TSC (31 +41.42%), QD (1.86 +19.4%), ATH (90.08 +18.92%), APO (79.88 +18.48%), TRUP (106.85 +17.21%), MBI (15.25 +13.89%), AMBC (16.87 +13.45%)
• Energy: BRY (9.9 +19.71%), GLOP (5.18 +12.99%)

This week's top % losers

• Healthcare: RVNC (15.28 -32.72%), AERI (10.57 -20.11%), LXRX (5.05 -18.02%), OMER (6.36 -17.72%), NVAX (133.49 -17.57%), IONS (30.26 -13.79%), ACOR (4.12 -12.53%)
• Materials: KALU (100.77 -13.87%)
• Industrials: AZUL (15.55 -20.97%), GOL (6.07 -19.92%), DNOW (7.64 -16.74%)
• Consumer Discretionary: MMYT (26.61 -13.62%)
• Energy: BTU (13.94 -12.69%)
• Consumer Staples: BRFS (3.94 -18.02%), CBD (4.71 -17.51%)
• Utilities: CIG (2.34 -12.9%)

-=Revance Therapeutics' (RVNC) : FDA rejects frown lines treatment

 

The Food and Drug Administration rejected Revance Therapeutics' (RVNC) frown lines treatment, causing RVNC stock to crash to an 18-month low on Monday.

In its letter, the FDA cited manufacturing deficiencies. Those issues were highlighted in a form made public last week. During its inspection, the FDA identified five different deficiencies related to cell bank quality testing methods, discrepancies with the proposed commercial manufacturing processes and quality control procedures, Needham analyst Serge Belanger said in a note.

Now, Revance says it will seek a meeting with the FDA to address those problems. At the minimum, Belanger expects a six- to 12-month delay for the drug called DaxibotulinumtoxinA. That assumes the deficiencies are minor and Revance can address them quickly.