San Diego, CA -- (SBWire) -- 01/19/2022 --An investor, who purchased NASDAQ: RVNC shares, filed a lawsuit against Revance Therapeutics, Inc over alleged violations of Federal Securities Laws.
Investors who purchased shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) have certain options and for certain investors are short and strict deadlines running. Deadline: February 8, 2022. NASDAQ: RVNC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Newark, CA based Revance Therapeutics, Inc., a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally.
On August 5, 2021, Revance Therapeutics, Inc. reported its second quarter financial results. In the announcement Revance Therapeutics, Inc. said that "Consistent with the company's previous disclosure on the status of the pre-approval inspection, the FDA initiated the inspection of the company's manufacturing facility in June 2021. Revance continues to anticipate receiving approval for DaxibotulinumtoxinA for Injection in 2021 and is actively building inventory and preparing for commercial launch."
On October 12, 2021, Revance Therapeutics, Inc. issued a statement saying that it "continues to anticipate FDA approval of daxibotulinumtoxinA for injection for the treatment of glabellar lines in 2021".
Then , on October 15, 2021, Revance Therapeutics, Inc. disclosed that the FDA could not approve the Biologics License Application (BLA) for DaxibotulinumtoxinA for Injection in its present form, citing deficiencies related to an inspection of Revance's manufacturing facility.
Shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) declined from $30.00 per share on September 27, 2021, to $13.01 per share on October 18, 2021.
The plaintiff claims that between November 25, 2019 and October 11, 2021, the Defendants made false and/or misleading statements and/or failed to disclose that quality control deficiencies existed at the Company's manufacturing facility for DAXI, that the foregoing deficiencies decreased the likelihood that the FDA would approve the DAXI BLA in its current form, that accordingly, it was unlikely that the DAXI BLA would obtain FDA approval within the timeframe the Company had represented to investors, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Revance Therapeutics, Inc. (NASDAQ: RVNC) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:RVNC Shareholder Notice: Lawsuit Alleges Securities Laws Violations by Revance Therapeutics, Inc.
A lawsuit was filed on behalf of investors in Revance Therapeutics, Inc. (NASDAQ:RVNC) shares over alleged securities laws violations.