2019 Q4 Form 10-Q Financial Statement
#000147929019000109 Filed on November 04, 2019
Income Statement
Concept | 2019 Q4 | 2019 Q3 | 2018 Q3 |
---|---|---|---|
Revenue | $89.00K | $46.00K | $2.362M |
YoY Change | -81.72% | -98.05% | 3049.33% |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $18.77M | $16.74M | $14.16M |
YoY Change | 40.49% | 18.26% | 54.73% |
% of Gross Profit | |||
Research & Development | $27.49M | $25.85M | $21.85M |
YoY Change | 7.68% | 18.3% | 0.95% |
% of Gross Profit | |||
Depreciation & Amortization | $760.0K | $730.0K | $440.0K |
YoY Change | 58.33% | 65.91% | 15.79% |
% of Gross Profit | |||
Operating Expenses | $46.26M | $42.59M | $36.00M |
YoY Change | 18.95% | 18.28% | 16.93% |
Operating Profit | -$46.17M | -$42.54M | -$33.64M |
YoY Change | 20.2% | 26.45% | 9.52% |
Interest Expense | $980.0K | $0.00 | $0.00 |
YoY Change | 5.38% | -100.0% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$130.0K | -$130.0K | -$144.0K |
YoY Change | -13.33% | -9.72% | 12.5% |
Pretax Income | -$45.33M | -$41.41M | -$32.83M |
YoY Change | 20.49% | 26.13% | 7.11% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$45.33M | -$41.41M | -$32.83M |
YoY Change | 11.6% | 26.12% | 7.12% |
Net Earnings / Revenue | -50928.09% | -90019.57% | -1390.09% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$993.0K | -$956.1K | -$905.2K |
COMMON SHARES | |||
Basic Shares Outstanding | 45.11M shares | 44.10M shares | 36.94M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2019 Q4 | 2019 Q3 | 2018 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $290.1M | $209.0M | $208.4M |
YoY Change | 65.02% | 0.29% | 35.85% |
Cash & Equivalents | $171.2M | $58.92M | $45.13M |
Short-Term Investments | $119.0M | $150.1M | $163.3M |
Other Short-Term Assets | $6.500M | $6.500M | $7.500M |
YoY Change | 27.45% | -13.33% | 167.86% |
Inventory | $0.00 | ||
Prepaid Expenses | |||
Receivables | $0.00 | $5.000M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $296.6M | $220.6M | $215.9M |
YoY Change | 42.65% | 2.17% | 38.15% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $14.76M | $14.92M | $13.49M |
YoY Change | 2.12% | 10.55% | 17.33% |
Goodwill | $0.00 | ||
YoY Change | |||
Intangibles | $0.00 | ||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.669M | $2.519M | $2.944M |
YoY Change | -48.6% | -14.44% | 252.15% |
Total Long-Term Assets | $43.69M | $45.24M | $17.17M |
YoY Change | 137.08% | 163.55% | 32.91% |
TOTAL ASSETS | |||
Total Short-Term Assets | $296.6M | $220.6M | $215.9M |
Total Long-Term Assets | $43.69M | $45.24M | $17.17M |
Total Assets | $340.3M | $265.8M | $233.1M |
YoY Change | 50.34% | 14.06% | 37.75% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $8.010M | $6.902M | $7.341M |
YoY Change | -5.03% | -5.98% | 9.9% |
Accrued Expenses | $18.64M | $18.69M | $15.72M |
YoY Change | 24.67% | 18.93% | 30.23% |
Deferred Revenue | $7.911M | $5.241M | $8.749M |
YoY Change | -7.88% | -40.1% | |
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $40.98M | $34.15M | $31.81M |
YoY Change | 28.18% | 7.38% | 48.11% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $73.80M | $80.40M | $19.10M |
YoY Change | 51.23% | 320.94% | |
Total Long-Term Liabilities | $73.80M | $80.40M | $19.10M |
YoY Change | 51.23% | 320.94% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $40.98M | $34.15M | $31.81M |
Total Long-Term Liabilities | $73.80M | $80.40M | $19.10M |
Total Liabilities | $114.8M | $114.5M | $50.95M |
YoY Change | 42.21% | 124.78% | 87.83% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$844.2M | -$798.9M | -$644.2M |
YoY Change | 23.28% | 24.02% | 27.24% |
Common Stock | $1.070B | $950.1M | $826.4M |
YoY Change | 28.82% | 14.97% | 27.46% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $225.5M | $151.3M | $182.1M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $340.3M | $265.8M | $233.1M |
YoY Change | 50.34% | 14.06% | 37.75% |
Cashflow Statement
Concept | 2019 Q4 | 2019 Q3 | 2018 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$45.33M | -$41.41M | -$32.83M |
YoY Change | 11.6% | 26.12% | 7.12% |
Depreciation, Depletion And Amortization | $760.0K | $730.0K | $440.0K |
YoY Change | 58.33% | 65.91% | 15.79% |
Cash From Operating Activities | -$33.51M | -$31.95M | -$25.41M |
YoY Change | 7.61% | 25.74% | 18.35% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$290.0K | -$1.480M | -$3.030M |
YoY Change | -82.1% | -51.16% | 471.7% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $31.21M | $2.400M | $33.39M |
YoY Change | -48.6% | -92.81% | 122.6% |
Cash From Investing Activities | $30.92M | $920.0K | $30.36M |
YoY Change | -47.68% | -96.97% | 109.81% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 114.8M | -80.00K | 900.0K |
YoY Change | 71668.75% | -108.89% | -90.13% |
NET CHANGE | |||
Cash From Operating Activities | -33.51M | -31.95M | -25.41M |
Cash From Investing Activities | 30.92M | 920.0K | 30.36M |
Cash From Financing Activities | 114.8M | -80.00K | 900.0K |
Net Change In Cash | 112.2M | -31.11M | 5.850M |
YoY Change | 299.15% | -631.79% | 175.94% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$33.51M | -$31.95M | -$25.41M |
Capital Expenditures | -$290.0K | -$1.480M | -$3.030M |
Free Cash Flow | -$33.22M | -$30.47M | -$22.38M |
YoY Change | 12.53% | 36.15% | 6.88% |
Facts In Submission
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Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-32744000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-114053000 | USD | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-102085000 | USD | |
CY2019Q3 | rvnc |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-41409000 | USD |
CY2018Q3 | rvnc |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-32834000 | USD |
rvnc |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-114103000 | USD | |
rvnc |
Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
|
-101952000 | USD | |
CY2019Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.96 | |
CY2018Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.91 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-2.67 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-2.82 | ||
CY2019Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
43314831 | shares |
CY2018Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
36272445 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
42730983 | shares | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
36116745 | shares | |
CY2019Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
44108407 | shares |
CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
151281000 | USD |
CY2018Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
36992122 | shares |
CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
182098000 | USD |
CY2019Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
44108407 | shares |
CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
151281000 | USD |
CY2018Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
36992122 | shares |
CY2018Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
182098000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-114103000 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-101952000 | USD | |
us-gaap |
Depreciation
Depreciation
|
2152000 | USD | |
us-gaap |
Depreciation
Depreciation
|
1251000 | USD | |
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
2215000 | USD | |
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
904000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
12882000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
12422000 | USD | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
7000 | USD | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
1480000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
1889000 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
4676000 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
21758000 | USD | |
rvnc |
Increase Decreasein Operating Lease Liabilities
IncreaseDecreaseinOperatingLeaseLiabilities
|
1903000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-72653000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-73105000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2950000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5367000 | USD | |
us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
228568000 | USD | |
us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
212197000 | USD | |
us-gaap |
Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
418000 | USD | |
us-gaap |
Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
178000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-22000000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1426000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
5141000 | USD | |
rvnc |
Increase Decreasein Operating Lease Rightof Use Assets
IncreaseDecreaseinOperatingLeaseRightofUseAssets
|
2414000 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-999000 | USD | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
1919000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1050000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
793000 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
3532000 | USD | |
us-gaap |
Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
|
183000000 | USD | |
us-gaap |
Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
|
50000000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
7000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
1537000 | USD | |
us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
100000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-48511000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-166127000 | USD | |
rvnc |
Proceeds From Issuanceof Follow On Offering Netof Commissionsand Discount
ProceedsFromIssuanceofFollowOnOfferingNetofCommissionsandDiscount
|
108100000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
480000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
4822000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1229000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
1906000 | USD | |
us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
521000 | USD | |
us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
366000 | USD | |
us-gaap |
Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
|
932000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
106830000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1618000 | USD | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-14334000 | USD | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-237614000 | USD | |
CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
73986000 | USD |
CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
283476000 | USD |
CY2019Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
59652000 | USD |
CY2018Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
45862000 | USD |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
313000 | USD | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
3000000 | USD | |
us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | USD | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
920000 | USD | |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-41400000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-114100000 | USD | |
CY2019Q3 | rvnc |
Working Capital Surplus
WorkingCapitalSurplus
|
186400000 | USD |
CY2019Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-798900000 | USD |
CY2019Q3 | rvnc |
Contractwith Customer Liability Net
ContractwithCustomerLiabilityNet
|
209000000.0 | USD |
rvnc |
Cashand Cash Equivalentsand Investments Operating Plan Funding Term Minimum
CashandCashEquivalentsandInvestmentsOperatingPlanFundingTermMinimum
|
P12M | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="line-height:120%;padding-bottom:16px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:bold;text-decoration:none;">Use of Estimates</span></div><div style="line-height:120%;padding-bottom:16px;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Such management estimates include revenue recognition, deferred revenue, accruals including clinical trial accruals, stock-based compensation, fair value of derivative liability, and the valuation of deferred tax assets. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable; however, actual results could significantly differ from those estimates.</span></div> | ||
CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
24700000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
28200000 | USD |
CY2019Q1 | us-gaap |
Deferred Rent Credit
DeferredRentCredit
|
3500000 | USD |
us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
Medicis Settlement<div style="line-height:120%;padding-bottom:16px;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In July 2009, the Company and Medicis Pharmaceutical Corporation (“Medicis”) entered into a license agreement granting Medicis worldwide aesthetic and dermatological rights to the Company’s investigational botulinum toxin type A product candidate. In October 2012, the Company entered into a settlement and termination agreement with Medicis. The terms of the settlement provided for the reacquisition of the rights related to all territories of DAXI and DaxibotulinumtoxinA Topical from Medicis and for consideration payable by the Company to Medicis of up to </span><span style="font-family:inherit;font-size:10pt;"><span>$25.0</span></span><span style="font-family:inherit;font-size:10pt;"> million, comprised of (i) an upfront payment of </span><span style="font-family:inherit;font-size:10pt;"><span>$7.0</span></span><span style="font-family:inherit;font-size:10pt;"> million, which was paid in 2012, (ii) a proceeds sharing arrangement payment of </span><span style="font-family:inherit;font-size:10pt;"><span>$14.0</span></span><span style="font-family:inherit;font-size:10pt;"> million due upon specified capital raising achievements by the Company, of which </span><span style="font-family:inherit;font-size:10pt;"><span>$6.9</span></span><span style="font-family:inherit;font-size:10pt;"> million was paid in 2013 and </span><span style="font-family:inherit;font-size:10pt;"><span>$7.1</span></span><span style="font-family:inherit;font-size:10pt;"> million in 2014, and (iii) a product approval payment of </span><span style="font-family:inherit;font-size:10pt;"><span>$4.0</span></span><span style="font-family:inherit;font-size:10pt;"> million to be paid upon the achievement of regulatory approval for DAXI or DaxibotulinumtoxinA Topical by the Company. In December 2012, Medicis was subsequently acquired by Valeant Pharmaceuticals International Inc., now known as Bausch Health Companies Inc. </span></div><div style="line-height:120%;padding-bottom:16px;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company determined that the settlement provisions related to the proceeds sharing arrangement payment in (ii) above and product approval payment in (iii) above were derivative instruments that require fair value accounting as a liability and periodic fair value remeasurements until settled. </span></div><div style="line-height:120%;padding-bottom:16px;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">As of </span><span style="font-family:inherit;font-size:10pt;">September 30, 2019</span><span style="font-family:inherit;font-size:10pt;">, the fair value of the Company’s liability for the product approval payment was </span><span style="font-family:inherit;font-size:10pt;"><span>$2.9 million</span></span><span style="font-family:inherit;font-size:10pt;">, which was measured using a term of </span><span style="font-family:inherit;font-size:10pt;"><span>1.1 years</span></span><span style="font-family:inherit;font-size:10pt;">, a risk-free rate of </span><span style="font-family:inherit;font-size:10pt;"><span>1.7%</span></span><span style="font-family:inherit;font-size:10pt;"> and a credit risk adjustment of </span><span style="font-family:inherit;font-size:10pt;"><span>7.5%</span></span><span style="font-family:inherit;font-size:10pt;">. As of </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">, the fair value of the Company’s liability for the product approval payment was </span><span style="font-family:inherit;font-size:10pt;"><span>$2.7 million</span></span><span style="font-family:inherit;font-size:10pt;">, which was measured using a term of </span><span style="font-family:inherit;font-size:10pt;"><span>1.5 years</span></span><span style="font-family:inherit;font-size:10pt;">, a risk-free rate of </span><span style="font-family:inherit;font-size:10pt;"><span>2.6%</span></span><span style="font-family:inherit;font-size:10pt;"> and a credit risk adjustment of </span><span style="font-family:inherit;font-size:10pt;"><span>8.0%</span></span><span style="font-family:inherit;font-size:10pt;">. The term is based on an expected Biologics License Application (“BLA”) approval in 2020. For the nine months ended </span><span style="font-family:inherit;font-size:10pt;">September 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and 2018, no payment was made for the product approval payment.</span></div> | ||
CY2019Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
206720000 | USD |
CY2019Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
42000 | USD |
CY2019Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
206762000 | USD |
CY2018Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
171784000 | USD |
CY2018Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
5000 | USD |
CY2018Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
13000 | USD |
CY2018Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
171776000 | USD |
CY2019Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
206762000 | USD |
CY2018Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
171776000 | USD |
us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
|
0 | USD | |
us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
0 | USD | |
CY2019Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P7Y2M12D | |
CY2019Q3 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P14Y | |
CY2019Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1425000 | USD |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
4193000 | USD | |
CY2019Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
298000 | USD |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
886000 | USD | |
CY2019Q3 | us-gaap |
Lease Cost
LeaseCost
|
1723000 | USD |
us-gaap |
Lease Cost
LeaseCost
|
5079000 | USD | |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
1633000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
6735000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
6942000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
5464000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
5557000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
17959000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
44290000 | USD |
CY2019Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
14195000 | USD |
CY2019Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
30095000 | USD |
CY2019Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.120 | |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
5826000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
6011000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
6196000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
4696000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
20173000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
42902000 | USD |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
4704000 | USD | |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
3890000 | USD | |
rvnc |
Indemnification Liability Recordedduring Period
IndemnificationLiabilityRecordedduringPeriod
|
0 | USD | |
CY2019Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4303000 | USD |
CY2018Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4092000 | USD |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
12882000 | USD | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
12422000 | USD | |
rvnc |
Increase Decreasein Deferred Tax Assets
IncreaseDecreaseinDeferredTaxAssets
|
15000000 | USD |