Stock Track | Revance Plunges Nearly 17% on Merger Deal Uncertainty, Lack of Guidance

Stock Track11-08

Shares of Revance Therapeutics Inc. (NASDAQ: RVNC) plummeted nearly 17% in after-hours trading on Tuesday, after the company reported its third-quarter 2024 financial results and provided a corporate update that raised concerns over the pending merger deal with Crown Laboratories.

Revance reported a narrower-than-expected quarterly loss of $0.37 per share, beating analysts' estimates of a $0.38 loss. However, the company's revenue of $59.9 million fell short of the consensus forecast of $68.2 million, driven by lower average selling prices for its aesthetic products DAXXIFY and the RHA Collection.

In the wake of the results, Revance announced that it would not provide any forward-looking guidance for 2024 and withdrew any previously issued guidance, citing the proposed merger with Crown Laboratories. The company also revealed that the deadline for commencing the tender offer related to the merger has been extended to November 12, 2024, as the offer has not yet commenced due to discussions around an alleged breach of a distribution agreement with Teoxane.

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(NASDAQ: RVNC) plummeted nearly 17% in after-hours trading on Tuesday, after the company reported its third-quarter 2024 financial results and provided a corporate ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RVNC","symbol_name":"Revance Therapeutics Inc","start_time":0,"source_url":"","article_id":"1176207925","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1176207925","pubTimestamp":1731055064,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Revance Therapeutics Inc.  plummeted nearly 17% in after-hours trading on Tuesday, after the company reported its third-quarter 2024 financial results and provided a corporate update that raised concerns over the pending merger deal with Crown Laboratories.Revance reported a narrower-than-expected quarterly loss of $0.37 per share, beating analysts' estimates of a $0.38 loss. 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