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Revance Therapeutics Stock Gains 16% After FDA Approves Its Anti-Wrinkle Injection

Shares of Revance Therapeutics, Inc. (RVNC) are gaining over 16% on Thursday morning after the U.S. Food and Drug Administration approved the company's anti-wrinkle injection Daxxify.

RVNC is currently trading at $24.17, up $3.36 or 16.12%, on the Nasdaq, on a volume of 3 million shares, above average volume of 0.7 million. The stock opened its trading at $20.06 after closing Wednesday's trading at $20.81. The stock has traded between $11.27 and $30.00 in the past 52-week period.

Revance Therapeutics announced that the FDA approved Daxxify for injection for the temporary improvement of moderate to severe frown lines in adults. The approval was based on the data generated in the Sakura phase 3 clinical trial program, which included more than 2,700 patients and approximately 4,200 treatments.

Mark Foley, CEO, said: "Importantly, we are very pleased DAXXIFY's label includes data demonstrating the achievement of none or mild wrinkle severity based on investigator and subject assessments, as this provides the foundation for our marketing claims around duration of effect."

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