Revance Therapeutics, Inc. (NASDAQ:RVNC) Q4 2022 Earnings Call Transcript

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So we’ll continue to evaluate that. But our strategy at launch is very similar to what we’ve done with the RHA product line. In terms of the bounce back in the filler space, we continue to get asked on each call whether or not we’re seeing any macroeconomic impact in our business, and thus far, we haven’t. And again, we are targeted or very focused on a much smaller group of providers. And thus far, we have not seen an impact of the economy on the facial injectable usage in the accounts that we’re calling on. And we continue to monitor that. Certainly, it’s possible we could face that sometime in the future, but a bounce back to us, given that we’re not seeing really an impact in terms of volumes in the accounts, I’m not sure would have a meaningful impact on us at this point.

David Amsellem: Okay. Thank you.

Mark Foley: Great. Thanks, David.

Operator: Chris Shibutani with Goldman Sachs. Your line is open.

Unidentified Analyst: Hi, this is Roger on for Chris. So our question kind of pertains to the patient volume mix that you were seeing and anticipate in the future. You mentioned earlier that the greatest amount of value you guys are deriving is coming from practices that are willing to switch quickly as opposed to those with more capturing deal of the day type events. So as you think about the future, do you think the dynamics are going to influence that in terms of you’ll be focusing more on patients who are switching from BOTOX. Or how do you think about capturing the patients who are new starters?

Mark Foley: So I think that, Roger, our strategy as we’ve articulated before is really targeted that prestige segment, we’ve set of the 40,000 accounts that we estimate in the U.S. that do facial injectables that about a third of those really fit into our strategy. As of the end of Q4, we said that we’re in roughly 5,000 accounts out of that, call it, 12,000 to 15,000 account levels. So we are very focused on targeting those injector accounts that we believe are aligned with our strategy. And so ours is less about going out and trying to capture consumers, but more about treating the consumers that reside in those prestige practices. We believe strongly that these leading injectors and practices heavily influence the choice that these consumers make when they come into the practices.

So the profile of consumer that we’re going to end up switching over to DAXXIFY is going to be reflected and who the existing consumers are that are already within those practices. There’s no doubt that any time new innovation comes into the market, it sparks and it stirs consumer interest. But we would think that the practices that provide DAXXIFY are going to end up getting the number of new patients that come in because they’ve heard about it. But again, our strategy is much more focused on arming these practices with all the information they need to provide a really good experience and outcome with DAXXIFY and let consumers know that that’s an option that they provide

Operator: Annabel Samimy with Stifel. Your line is open.

Annabel Samimy: Hi. Thanks for taking my question. So I guess, going back to €“ I guess, the strategy of going deeper as opposed to wider. So I guess, we’ve spoken in the past and you mentioned that could be a potential headwind. Do you really see that as a headwind? If you’re going to be going deeper in these accounts, first of all. And second then you mentioned also that in the €“ you started getting orders €“ you’ve got orders from the 400 participants in the PrevU. Have you started seeing reorders from them? And you also mentioned maybe some other partners, so have people started ordering outside of this PrevU yet, because of some level of desire to get ahead of the whole DAXI trend? So maybe you can just start with that.

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