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Why Is Revance Therapeutics (RVNC) Stock Soaring Today?

  • Revance Therapeutics (RVNC) stock is jumping 12% after the FDA approved its alternative to Botox.
  • Revance has indicated that its Daxxify injection, which is supposed to eliminate wrinkles, has a longer impact on people than AbbVie’s (ABBV) Botox.
  • Botox is reportedly becoming more popular among young people.
RVNC stock - Why Is Revance Therapeutics (RVNC) Stock Soaring Today?

Source: Roman Samborskyi / Shutterstock.com

Revance Therapeutics (NASDAQ:RVNC) stock is jumping 12% and trending on social media today. The company announced this morning that the Food and Drug Administration (FDA) had approved its alternative to Botox.

Revance has indicated that its Daxxify injection, which is supposed to eliminate wrinkles, has a longer impact on people than AbbVie’s (NYSE:ABBV) Botox.

More Information on Daxxify

In a Phase 3 clinical trial involving more than 2,700 individuals, the effects of Daxxify lasted for a median period of nine months. For a number of people, its impact continued for nine months.

In its press release announcing the FDA’s approval of Daxxify, Revance stated that the treatment is the “first and only long-acting neuromodulator that demonstrates a median duration of six months and up to nine months for some patients.”

Dr. Jeffrey Dover, an investigator for the Phase 3 clinical trial of Daxxify, reported in a statement included in the press release that the injection was “well tolerated and achieved clinically significant improvement with long-lasting results and high patient satisfaction.”

Botox’s Duration

According to a plastic surgeon: “In general, Botox lasts 3-4 months.” The surgeon, Dr. Smita Ramanadham, added that: “There will certainly be patients in which in lasts longer, in that 4-6 month range, or shorter, in that 2-month range. It is also common for first-timers to notice that it may not last as long initially but may last longer after the second treatment.”

RVNC Stock: Botox Is Becoming Popular Among Young People

According to the Independent, a British newspaper, a significant number of “people in their twenties” are getting Botox injections in order to improve the appearance of their faces.

“Young people are racing to achieve the plumpest pout or the highest cheekbone as a result of the latest aesthetic trends,” the newspaper reported.

RVNC stock stands to benefit from this new fashion trend with Daxxify.

On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.


Article printed from InvestorPlace Media, https://investorplace.com/2022/09/why-is-revance-therapeutics-rvnc-stock-soaring-today/.

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