AGN - The FDA Accepted Revance Therapeutics' Application for Approval Of Its Botox Competitor
A new alternative to Allergan's (NYSE: AGN) blockbuster aesthetics treatment Botox may be available by the end of 2020. On Thursday, Revance Therapeutics (NASDAQ: RVNC) announced the Food and Drug Administration (FDA) accepted its application for approval of DAXI (daxibotulinumtoxinA for injection), a long-lasting neurotoxin for use in treating frown lines.
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A clinical-stage biotech, Revance Therapeutics recently in-licensed U.S. marketing rights to TEOXANE SA's hyaluronic acid dermal fillers, which are used in aesthetic procedures. That accelerated the company's transition to a commercial-stage company, giving it an opportunity for revenue while it awaits an FDA go/no-go decision on DAXI. The company filed its application for DAXI's approval late last year.