Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Revance Therapeutics, Inc. (RVNC) Investors

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Revance Therapeutics, Inc. (“Revance” or the “Company”) (NASDAQ: RVNC) securities between November 25, 2019 and October 11, 2021, inclusive (the “Class Period”). Revance investors have until February 8, 2022 to file a lead plaintiff motion.

If you suffered a loss on your Revance investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/revance-therapeutics-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On October 12, 2021, Revance stated that it “remains confident” in its BLA despite a Form 483 issued by the FDA following a recent inspection of the Company’s facility. The Form 483, which had been publicized pursuant to a Freedom of Information Act request, indicated that “[t]he current manufacturing process is not the process proposed for licensure.” The Form 483 also stated that Revance’s “Quality Unit lacks the responsibility and authority for the control, review, and approval of outsourced activities which includes defining the responsibilities and communication processes for quality-related activities in a written agreement.”

On this news, Revance’s stock fell $6.85, or 25%, to close at $20.45 per share on October 12, 2021, thereby injuring investors.

Then, on October 15, 2021, Revance disclosed receipt of a Complete Response Letter , which stated that the FDA “is unable to approve the BLA in its present form” due to “deficiencies related to the FDA’s onsite inspection of Revance’s manufacturing facility.”

On this news, Revance’s stock fell $8.90, or 39%, to close at $13.81 per share on October 18, 2021, thereby injuring investors further.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) quality control deficiencies existed at the Company’s manufacturing facility for DAXI; (2) the foregoing deficiencies decreased the likelihood that the FDA would approve the DAXI BLA in its current form; (3) accordingly, it was unlikely that the DAXI BLA would obtain FDA approval within the timeframe the Company had represented to investors; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Revance securities during the Class Period, you may move the Court no later than February 8, 2022 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [e-mail], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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