Revance Shares Jump 18% After FDA Approves Botox Rival Daxxify

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Shares of Revance Therapeutics surged 18% Thursday after the company announced the Food and Drug Administration had approved Daxxify.

The company says Daxxify can diminish wrinkles for up to six months, twice as long as Botox.

The FDA’s decision comes years after Revance submitted Daxxify for approval, encountering delays due to the Covid-19 pandemic as well asMore than $14.6 billion. That’s how much the U.S. aesthetics procedures market was worth in 2021,Botox, which is derived from a toxin produced by the bacteria clostridium botulinum, was initially used to create a drug to treat two rare eye muscle disorders.

 

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