Aegis Capital has reiterated a ‘Buy’ rating and price target of $28 on Revance Therapeutics, Inc. (NASDAQ: RVNC) after the company issued a protocol update on its phase 2 plantar fasciitis (PF) trial. Revance said it has expanded the phase 2 trial to a multi-center protocol with three centers, and changes were also made to the trial’s primary and secondary endpoints. The American Orthopaedic Foot and Ankle Score (AOFAS) will now be the secondary endpoint to provide foot functionality data. The new primary endpoint will be visual analog scale (VAS), which should provide foot pain data. Revance said it expects to report topline results from the phase 2 study in the fourth quarter of 2017.
For more information, visit www.revance.com
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 neuromodulator. The company holds worldwide rights to RT002 injectable and RT001 topical and the pharmaceutical uses of its proprietary peptide technology platform.
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