Revance Therapeutics Inc. shares surged nearly 33% in premarket trade on Tuesday after the company reported positive results for its wrinkle-relaxing injection in two late-stage clinical trials. If approved, the product, DaxibotulinumtoxinA for Injection (RT002), would be the first of its kind to last six months. Products currently on the market, including Allergan’s market-leading Botox, last three to four months. In two trials, the product showed highly statistically significant improvement relative to the placebo in reducing frown lines or wrinkles between eyebrows. Revance’s product is also being tested in a long-term safety trial, with results expected in the second half of next year; if the trial is successfully completed, Revance expects to file for approval in the first half of 2019 and, if it’s approved, launch the product in the U.S. in 2020. Botox has been a wildly profitable product for Allergan, since patients largely pay out-of-pocket for it, and analysts have noted that new rivals could pose a long-term risk for the company. Revance shares have surged nearly 6% over the last three months to $26.00, compared with a 7.4% rise in the S&P 500 and a 11.7% rise in the Dow Jones Industrial Average .
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