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revance Revance Reports First Quarter 2021 Financial Results , Provides Corporate Update May 10 , 2021 - Q1 revenue for the RHA® Collection of dermal fillers of $ 11.6 million - HintMD's processing volume run - rate more than doubled to over $ 400 million from the prior quarter - Over 1,500 aesthetic accounts activated across products and services at quarter - end - Status of the U.S. Food and Drug Administration ( FDA ) pre - approval inspection - Conference call and webcast today at 4:30 p.m. ET NASHVILLE , Tenn .-- ( BUSINESS WIRE ) -- May 10 , 2021-- Revance Therapeutics , Inc. ( Nasdaq : RVNC ) , a biotechnology company focused on innovative aesthetic and therapeutic offerings , today reported financial results for the first quarter ended March 31 , 2021 and provided a corporate update . Financial Highlights • Revenue for the first quarter 2021 totaled $ 13.3 million compared to $ 0.1 million for the first quarter 2020. The increase was primarily due to sales resulting from the commercial launch of the RHAⓇ Collection of dermal fillers and increased revenue related to the biosimilar program . Revenue included $ 11.6 million of product revenue from sales of the RHAⓇ Collection of dermal fillers , $ 1.5 million of collaboration revenue and $ 0.1 million of service revenue from the HintMD platform . • Selling , general and administrative ( SG & A ) expenses for the first quarter 2021 were $ 49.0 million compared to $ 21.2 million for the first quarter 2020. The increase was primarily due to sales and marketing expenses related for the RHAⓇ Collection of dermal fillers , pre - commercial activities for DaxibotulinumtoxinA for Injection and other personnel - related expenses from integrating HintMD . SG & A expenses include depreciation and amortization and stock - based compensation . Excluding these expenses , non - GAAP SG & A expenses were $ 40.8 million for the first quarter 2021 . • Research and development ( R & D ) expenses for the first quarter 2021 were $ 27.3 million compared to $ 39.8 million for the first quarter 2020. The decrease was primarily due to lower clinical trial costs and regulatory costs as the company completed multiple clinical trials in 2020 , offset by costs related to pre - commercial manufacturing and developmental efforts . R & D expenses include depreciation and amortization and non - cash stock - based compensation . Excluding these expenses , non - GAAP R & D expenses were $ 23.5 million for the first quarter 2021 . • Total operating expenses for the first quarter 2021 were $ 83.3 million compared to $ 61.0 million for first quarter 2020 . Excluding costs of revenue , depreciation and amortization , stock - based compensation and in - process research and development , non - GAAP operating expenses for the first quarter 2021 were $ 64.2 million . • Net loss for the first quarter 2021 was $ 71.6 million . • Cash , cash equivalents and short - term investments as of March 31 , 2021 were $ 386.8 million . • Net proceeds from the issuance of approximately 0.8 million shares of common stock during the first quarter under the company's At - the - Market ( ATM ) program totaled $ 21.7 million . Since the fourth quarter of 2020 , a total of $ 90.1 million in net proceeds have been raised on the ATM program , which has aggregate offering price of up to $ 125 million . " We are very pleased with our commercial execution in the first quarter , particularly given the impact of COVID - 19 and seasonality , where the first quarter is traditionally a slower time of the year for the aesthetics market . We are also encouraged by the progress we are making in our therapeutics franchise as we begin laying the groundwork for our first anticipated approval in the treatment of muscle movement disorders , " said Mark Foley , President and Chief Executive Officer . " Our FDA approval for DaxibotulinumtoxinA for Injection for glabellar lines remains under review with a deferred action due to COVID - related travel restrictions . We stand ready for the pre - approval inspection of our manufacturing facility and are actively engaging with the FDA to schedule an inspection date as soon as possible . We continue to anticipate an approval this year and , as we have noted before , the FDA did not indicate that there were any other review issues beyond the pending inspection . " Foley continued , " We remain focused on execution for the balance of the year and believe we are well positioned for continued growth based on our targeted launch strategy , differentiated products and services and anticipated approval of our next - generation neuromodulator . When combined with our efforts in therapeutics and steady progress in our partnerships , we are encouraged by the longer - term growth opportunities that will be available to us . " First Quarter Highlights and Subsequent Updates