Revance Therapeutics prices upsized IPO at $16, at the high end of the range

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Revance Therapeutics, a late stage biotech developing the first non-injectable botulinum toxin (Botox) formulation, raised $96 million by offering 6.0 million shares at $16, the high end of the $14 to $16 range. The company had originally planned to offer 5 million shares. Existing venture backers, which include Essex Woodlands, NovaQuest and Vivo Ventures, previously indicated an interest in purchasing up to $16 million of the offering, though that language was removed from the prospectus filed this morning.

At its offer price, Revance Therapeutics commands a market cap of $284 million and will have approximately $111 million in cash on its balance sheet. Revance Therapeutics will list on the NASDAQ under the symbol RVNC. Cowen & Company and Piper Jaffray acted as joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: RVNC

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