NEW YORK, Dec. 16, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed against Revance Therapeutics, Inc. ("Revance" or the "Company") (NASDAQ: RVNC) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Revance securities between November 25, 2019 and October 11, 2021, both dates included, (the "Class Period").
All investors who purchased the shares of Revance Therapeutics, Inc.and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in Revance Therapeutics, Inc. you may,no later than February 8, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Revance Therapeutics, Inc.
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Revance, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally.
On October 12, 2021, Revance disclosed that on July 2, 2021, the U.S. Food and Drug Administration ("FDA") had issued a Form 483 notifying Revance of serious issues that the FDA had observed during its inspection of the Company's Northern California DAXI manufacturing facility. Among other efficiencies, the FDA observed that "[t]he current manufacturing process is not the process proposed for licensure" and Revance's "Quality Unit lacks the responsibility and authority for the control, review, and approval of outsourced activities[.]" Significantly, the Form 483 only came to light as a result of a Freedom of Information Act (FOIA) request directed to the FDA.
On this news, the price of the Company's shares declined by $6.85 per share, or approximately 25%, from $27.30 per share to close at $20.45 per share on October 12, 2021.
On October 15, 2021, Revance issued a press release announcing that it had received a Complete Response Letter ("CRL") from the FDA, indicating that the FDA has determined "it is unable to approve the BLA in its present form and indicated that there are deficiencies related to the FDA's onsite inspection at [Revance's] manufacturing facility."
On this news, the price of the Company's shares declined by $8.90 per share, or approximately 39.19%, from $22.71 per share to close at $13.81 per share on October 18, 2021.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLPPatrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
