Stock Track | Revance Therapeutics Plunges Nearly 27% on Weak Q3 Results, Merger Uncertainty

Stock Track11-08

Shares of Revance Therapeutics Inc. (NASDAQ: RVNC) plummeted by nearly 27% in pre-market trading on Wednesday, November 8, 2024, after the company reported weaker-than-expected third-quarter results and raised concerns over its pending merger deal with Crown Laboratories.

For the third quarter of 2024, Revance reported a narrower-than-expected 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.

Adding to investor concerns, 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 by nearly 27% in pre-market trading on Wednesday, November 8, 2024, after the company reported weaker-than-expected third-quarter results ...</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":"1194133594","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1194133594","pubTimestamp":1731076512,"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 by nearly 27% in pre-market trading on Wednesday, November 8, 2024, after the company reported weaker-than-expected third-quarter results and raised concerns over its pending merger deal with Crown Laboratories.For the third quarter of 2024, Revance reported a narrower-than-expected loss of $0.37 per share, beating analysts' estimates of a $0.38 loss. 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