Revenue during the quarter was stable at $0.08 million, when compared with the previous year period.

Operating loss for the quarter was $17.72 million, compared with an operating loss of $18.77 million in the previous year period.

"With three active programs for RT002 injectable underway to demonstrate the power of our differentiated neurotoxin, we expect to deliver the first uniquely new neuromodulator in nearly 30 years," said Dan Browne, president and chief executive officer at Revance. "Following the filing and opening of our IND application submission to treat frown lines, we initiated investigator training and are on track to start patient dosing for the Phase 3 program this quarter. In addition, we are making significant progress in the Phase 2 cervical dystonia trial. The third cohort is nearly fully enrolled and we expect to report interim data for the first two cohorts later this quarter. Finally, as we announced this morning, we are excited to pursue plantar fasciitis as a new indication, where Revance has the opportunity to deliver the first neurotoxin therapy approved to treat this painful condition. In the United States alone, more than two million patients undergo treatment annually and we believe the market could grow significantly larger if patients had a compelling neurotoxin treatment option."

For fiscal year 2016, Revance Therapeutics, Inc forecasts revenue to be in the range of $80 million to $90 million.

Debt comes down significantly
Revance Therapeutics, Inc has recorded a decline in total debt over the last one year. It stood at $6.18 million as on Sep. 30, 2016, down 32.84 percent or $3.02 million from $9.19 million on Sep. 30, 2015. Total debt was 2.72 percent of total assets as on Sep. 30, 2016, compared with 5.55 percent on Sep. 30, 2015. Debt to equity ratio was at 0.03 as on Sep. 30, 2016, down from 0.06 as on Sep. 30, 2015.