Revance Therapeutics Stock’s Retail Sentiment Muted Even As Teoxane Makes Better Offer Than Crown Labs
By Stocktwits Inc | First Published Jan 6, 2025, 10:33 PM ISTThe offer represents a 16% premium over the $3.10-per-share agreement with Crown Laboratories announced last month.
Shares of Revance Therapeutics surged more than 16% on Monday morning, reaching over a month’s high, leading to a jump in retail chatter on Stocktwits.
The surge followed a proposal from privately held Swiss medical aesthetics company Teoxane to acquire the anti-wrinkle injection maker for $3.60 per share in cash.
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The offer represents a 16% premium over the $3.10-per-share agreement with Crown Laboratories announced last month.
Revance has yet to comment publicly on the proposal, but the news triggered a spike in message volume on Stocktwits, where retail sentiment remained cautious with a ‘neutral’ score.
Last year, Crown agreed to purchase Revance for $6.66 per share, but the deal faced delays due to a dispute with Teoxane over Revance’s breach of a 2020 distribution agreement.
The agreement had made Revance the exclusive commercialization partner for Teoxane’s dermal fillers. After resolving the dispute, Revance and Crown amended their deal, slashing the takeover price by more than half, reducing it to approximately $323 million.
Teoxane currently holds 6.2% of Revance’s outstanding shares.
Despite the uptick in shares following the Teoxane proposal, Revance's stock has struggled recently, plunging around 65% last year.
Last year, Revance Therapeutics announced the commercial launch of DAXXIFY for injection for the treatment of cervical dystonia, marking its entry into the expanding U.S. therapeutics neurotoxin market, which could play a role in reshaping its future prospects.
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