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Today's Research Reports on Trending Tickers: Novelion Therapeutics and Revance Therapeutics

NEW YORK, NY / ACCESSWIRE / December 5, 2018 / Shares of Novelion Therapeutics and Revance Therapeutics were both soaring on Tuesday on separate developments. Novelion saw gains as it was revealed that biotech focused venture capital firm Healthcare Value Capital sent a letter demanding exploration of strategic alternatives, while Revance Therapeutics soared on news that its Botox rival succeeds in late-stage trial and that it had reached an agreement with Shanghai Fosun Pharmaceutical Industrial Development Co.

The Market Edge Initiates Coverage on:

Novelion Therapeutics Inc.
https://marketedgereport.com/report/NVLN/

Revance Therapeutics, Inc.
https://marketedgereport.com/report/RVNC/

Novelion Therapeutics Inc. shares were up 32.65% yesterday at the close on almost 17.5 million shares traded. Trading volume was significantly higher than usual compared to the stock's average trading volume of just under 2 million shares. The company revealed through an amendment to a SEC 13-D filing that Healthcare Value Capital sent a letter to Novelion's board urging the exploration of strategic alternatives. The VC firm with 9.5-percent stake in Novelion has accused the company of allowing costs to spiral out of control. According to Healthcare Venture Capital, Novelion's SG&A and R&D expenses ate 73 percent and 35 percent of revenue, respectively, for the first 9 months of 2018. In comparison, the industry average for SG&A and R&D is at 20-30 percent and 10-20 percent respectively. "We would welcome the opportunity to meet with you and management to discuss our thoughts on an immediate program to decisively and permanently normalize costs as well as the relative merits, timing and terms for the strategic alternatives available to Novelion," read the letter.

Access The Market Edge's Novelion Therapeutics Inc. Research Report:
https://marketedgereport.com/report/NVLN/

Revance Therapeutics, Inc. shares closed up 19.47% yesterday on almost 1.8 million shares traded on 2 major developments. Average trading volume for the stock is only about 231,000 shares. The Company announced that its botox rival, long-acting neuromodulator injection RT002, has passed a late-stage study, putting drug developer Revance Therapeutics Inc on course to file for U.S. marketing approval next year. The treatment, which requires two or less doses a year, was effective in maintaining reduced wrinkle severity in patients for a median duration of 24 weeks. In another news, the company announced that it has entered an agreement with Shanghai Fosun Pharmaceutical Industrial Development Co. to give Fosun exclusive rights to develop and commercialize Revance's botulinum toxin formulation RT002 in mainland China, Hong Kong and Macau. As part of the licensing agreement, Revance will receive an upfront payment of $30 million and is also eligible to receive up to an additional $230.5 million in future development and sales milestone payments. The company is also eligible for royalties on future net sales. "Fosun Pharma is one of the leading healthcare companies in China, with the expertise and access to reach both the aesthetics and therapeutic markets. We see Fosun Pharma as an ideal partner to commercialize RT002 in the fast-growing Chinese market for neuromodulators, " said Dan Browne, president and chief executive officer at Revance. He added, "Fosun Pharma already has a growing portfolio of products in facial aesthetics where we plan to gain the first approval for RT002, backed by assets in a broad range of important therapeutics indications. We look forward to working with the Fosun Pharma team on the clinical, regulatory and commercial pathways to introduce RT002 in this important, developing geography."

Access The Market Edge's Revance Therapeutics, Inc. Research Report:
https://marketedgereport.com/report/RVNC/

Our Actionable Research on Novelion Therapeutics Inc. (NASDAQ: NVLN) and Revance Therapeutics, Inc. (NASDAQ: RVNC) can be downloaded free of charge at The Market Edge.

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SOURCE: MarketEdgeReport