Boston, MA 04/22/2014 (wallstreetpr) – Revance Therapeutics Inc (NASDAQ:RVNC) is a $643 million specialty therapeutic company. Its main focus is the development of better aesthetic products, and its industry is among the fastest growing in the therapeutic space.
Shares of the company soared in the early phase of trading and maintained the trend throughout the early afternoon. The significant jump in the stock was based on an important development in the company that served to boost investor confidence.
The company issued early results for its experimental aesthetic drug that show encouraging performance on patients tried. The phase 1/2 showed that RT002, an injectable botulinum, met the primary objective with 94 percent success level. The early stage study captured 48 patients. The phase 1/2 study focused on the drug’s safety and efficacy.
Meeting market need
Revance Therapeutics Inc (NASDAQ:RVNC) expects to enroll patients for the next trial phase as it seeks to bring a product to the market. The company currently lacks an FDA approved product, but RT002 looks promising given the unmet needs in the aesthetic field.
An increasing number of people that are seeking to improve their look can be seen creating a buzz in the demand for aesthetics, making the field among the fastest growth areas in the therapeutic space.
Nonetheless, Revance Therapeutics Inc (NASDAQ:RVNC) will require watertight study results to win the approval of FDA to bring a new product to the market. Fully aware of the stringent FDA requirements for marketing approval for a new drug, Revance seeks to go about its studies on the drug carefully. The 94 percent success level realized in the phase 1/2 trial suggests that the company seeks to obtain strong results to back the drug’s approval when marketing application is finally placed before the regulators.
Concerns exists
As much as Revance Therapeutics Inc (NASDAQ:RVNC) can be seen making nice progress in its efforts to bring RT002 to the market, the company continues to lose money and its balance sheet is not in good shape. Moreover, it will take time for the company to bring a drug to the market given that RT002 is only in its early trial stages. However, it is worth noting that it is usual for drug companies to suffer financial losses before they bring a successful product to the market and Revance is no exception.
