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REVANCE Revance Reports Third Quarter 2021 Financial Results , Provides Corporate Update November 9 , 2021 - Q3 revenue for the RHA® Collection of dermal fillers of $ 18.3 million , with over 2,500 aesthetic accounts across products and services - Revance plans to request a Type A meeting with the U.S. Food and Drug Administration ( FDA ) to seek clarity and gain alignment on the requirements for approval for DaxibotulinumtoxinA for Injection for glabellar lines - Announces positive topline results from the ASPEN - OLS Phase 3 open - label , long - term safety study of DaxibotulinumtoxinA for Injection for the treatment of cervical dystonia - Conference call and webcast today at 4:30 p.m. ET NASHVILLE , Tenn .-- ( BUSINESS WIRE ) -- Nov . 9 , 2021-- Revance Therapeutics , Inc. ( Nasdaq : RVNC ) , a biotechnology company focused on innovative aesthetic and therapeutic offerings , today reported financial results for the third quarter ended September 30 , 2021 and provided a corporate update . Financial Highlights • Revenue for the three and nine months ended September 30 , 2021 was $ 19.7 million and $ 51.8 million compared to $ 3.8 million and $ 4.2 million for the same periods in 2020 , respectively . The increase was primarily due to increased sales of the RHAⓇ Collection of dermal fillers . Revenue for the third quarter 2021 included $ 18.3 million of product revenue from sales of the RHAⓇ Collection of dermal fillers , $ 1.1 million of collaboration revenue and $ 0.3 million of service revenue from the company's fintech platform 1 . • Selling , general and administrative ( SG & A ) expenses for the three and nine months ended September 30 , 2021 were $ 52.8 million and $ 152.4 million compared to $ 48.2 million and $ 99.0 million for the same periods in 2020 , respectively , presented in accordance with U.S. generally accepted accounting principles ( " GAAP " ) . The increase was primarily due to sales and marketing expenses related to the RHAⓇ Collection of dermal fillers , pre - commercial preparation activities for DaxibotulinumtoxinA for Injection and expenses related to the acquisition of HintMD in 2020. SG & A expenses include depreciation , amortization and stock - based compensation . Excluding these expenses , non - GAAP SG & A expenses were $ 45.1 million and $ 128.3 million for the three and nine months ended September 30 , 2021 , respectively . • Research and development ( R & D ) expenses for the three and nine months ended September 30 , 2021 , were $ 30.1 million and $ 86.8 million compared to $ 29.1 million and $ 96.0 million for the same periods in 2020 , respectively . The change was primarily due to lower costs incurred in connection with clinical trial and regulatory activities , offset by costs related to pre - commercial manufacturing and quality activities , fintech platform development and stock - based compensation . R & D expenses include depreciation , amortization and stock - based compensation . Excluding these expenses , non - GAAP R & D expenses were $ 25.7 million and $ 74.1 million for the three and nine months ended September 30 , 2021 , respectively . • Total operating expenses for the three and nine months ended September 30 , 2021 were $ 92.5 million and $ 264.9 million compared to $ 81.0 million and $ 199.4 million for the same periods in 2020 , respectively . Excluding costs of revenue , depreciation , amortization and stock - based compensation , non - GAAP operating expenses were $ 70.9 million and $ 202.4 million for the three and nine months ended September 30 , 2021 , respectively . • Net loss for the three and nine months ended September 30 , 2021 was $ 74.4 million and $ 218.2 million compared to $ 81.3 million and $ 203.8 million for the same periods in 2020 , respectively . • Cash , cash equivalents and short - term investments as of September 30 , 2021 were $ 273.7 million . " While we are very disappointed that the FDA did not approve our Biologics License Application ( BLA ) for DaxibotulinumtoxinA for Injection for glabellar lines in its present form due to deficiencies related to the onsite inspection of our manufacturing facility , we are committed to addressing the identified issues as soon as possible and remain confident in the approvability of our neuromodulator , ” said Mark J. Foley , Chief Executive Officer of Revance . " As part of this , we plan to file a Type A meeting request with the FDA to gain clarity and alignment on the requirements for approval . In the meantime , we remain focused on growing our top line by continuing to drive greater adoption of both the RHAⓇ Collection of dermal fillers and the OPUL ™ platform while preserving cash to increase our financial flexibility . " Foley continued , " I'm pleased with the strong execution of our commercial team and the ongoing growth of our customer base which will enhance our cross - selling ability over time . The third quarter marks the one - year anniversary of the launch of the RHAⓇ Collection and given the challenges of introducing a new product line in the middle of a pandemic , I'm incredibly proud of how our entire organization has performed . With a revenue run - rate of over $ 70 million as of the third quarter , we believe our prestige strategy is resonating and the RHAⓇ Collection is being well - received . We are also