Revance Therapeutics (RVNC) Misses Q2 EPS by 11c

Revance Therapeutics (NASDAQ: RVNC) reported Q2 EPS of ($1.12), $0.11 worse than the analyst estimate of ($1.01). Revenue for the quarter came in at $299 thousand versus the consensus estimate of $410 thousand.

2020 Financial Outlook

We are developing our acquisition accounting for HintMD and once completed we can provide GAAP operating expense guidance for 2020. Nevertheless, Revance expects non-GAAP (U.S. generally accepted accounting principles, or GAAP) operating expense, which excludes depreciation and amortization, stock-based compensation, and non-cash in-process research and development costs, to be in the range of $220 to $230 million. With multiple clinical programs underway, along with regulatory and pre-commercial manufacturing activities, Revance anticipates 2020 non-GAAP, non-HintMD related research and development expense to be $95 to $100 million. With current cash and equivalents, management projects that the company is funded into 2023.

For earnings history and earnings-related data on Revance Therapeutics (RVNC) click here.

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