Revance Reports First Quarter 2022 Financial Results, Provides Corporate Update - PDUFA date of

Revance Reports First Quarter 2022 Financial Results, Provides Corporate Update

NASHVILLE, Tenn., May 10, 2022 - Revance Therapeutics, Inc. (Nasdaq: RVNC), a biotechnology company focused on innovative aesthetic

and therapeutic offerings, today reported financial results for the first quarter ended March 31, 2022 and provided a corporate update.

We achieved several key objectives since the beginning of the year that support our strategic priorities for 2022, said Mark J. Foley, Chief

Executive Officer of Revance. In particular, we completed three consecutive drug substance lots and one drug product lot as part of the qualification of our new working cell bank, obtained the FDA s acceptance of our BLA resubmission and

were granted a new PDUFA date for DaxibotulinumtoxinA for Injection for glabellar lines. We also extended our cash runway and removed our financing overhang with a $300 million note purchase agreement and additional equity raised through our

Foley added, With a new PDUFA date, our enhanced financial flexibility, and proven commercial strategy and execution, we believe

we are well positioned for the significant opportunity ahead. We look forward to continuing to work with the FDA to facilitate their review and remain very focused on executing on our strategic priorities for 2022.

First Quarter Highlights and Subsequent Updates

2022 Financial Outlook

Revance expects 2022 GAAP

operating expenses to be $375 million to $400 million and non-GAAP operating expenses, which exclude costs of revenue, depreciation and amortization and stock-based compensation, to be

$260 million to $280 million. Revance expects 2022 non-GAAP research and development expense to be $100 million to $110 million. With the current cash, cash equivalents and short-term

investments, management projects that the company is funded into 2024, with additional $100 million in notes available under the company s note purchase agreement, subject to the FDA approval of DaxibotulinumtoxinA for Injection for

a corresponding conference call and a live webcast at 1:30 p.m. PT / 4:30 p.m. ET on May 10, 2022 to discuss the results and provide a business and pipeline update. Individuals interested in listening to the conference call may do so by dialing

(855) 453-3827 for domestic callers, or (484) 756-4301 for international callers and reference conference ID: 2779583; or from the webcast link in the investor relations

section of the company s website at: www.revance.com.

A replay of the call will be available beginning May 10, 2022, at 4.30 p.m. PT / 7.30 p.m. ET

to May 11, 2022 at 4.30 p.m. PT / 7.30 p.m. ET. To access the replay, dial (855) 859-2056 or (404) 537-3406 and reference conference ID: 2779583. The

webcast will be available in the investor relations section on the company s website for 30 days following the completion of the call.

Revance is a commercial stage

biotechnology company focused on innovative aesthetic and therapeutic offerings, including its next-generation, long-acting neuromodulator product, DaxibotulinumtoxinA for Injection. Revance has successfully completed Phase 3 clinical programs for

DaxibotulinumtoxinA for Injection in glabellar (frown) lines, for which the company is currently pursuing U.S. regulatory approval, and in cervical dystonia. Revance is also evaluating DaxibotulinumtoxinA for Injection in adult upper limb

spasticity. Revance owns a unique portfolio of premium products and services for U.S. aesthetics practices, including the exclusive U.S. distribution rights to the RHA Collection of dermal

fillers, the first and only range of FDA-approved fillers for correction of dynamic facial wrinkles and folds, and the OPUL Relational Commerce

Platform. Revance has also partnered with Viatris (formerly Mylan N.V.) to develop a biosimilar to BOTOX , which if approved, would be the first and only generic biosimilar to Botox and Botox Cosmetic. For more information or to join our team visit us at www.revance.com.

Revance Therapeutics and the Revance logo are registered trademarks of Revance Therapeutics, Inc.

Resilient Hyaluronic Acid and RHA are

trademarks of TEOXANE SA.

BOTOX is a registered trademark of Allergan, Inc.

Forward Looking Statements

Any statements in this press

release that are not statements of historical fact, including statements related to our 2022 financial outlook, milestone expectations, future expenses, future revenue, expected cash runway, run-rate and

financial performance; our ability to address deficiencies identified by the FDA and obtain regulatory approval of DaxibotulinumtoxinA for Injection in glabellar lines; our ability to obtain, and the timing relating to regulatory submissions,

approval and meetings with respect to our drug product candidates, including the review of our BLA by the FDA and related timing, and required reinspection of our manufacturing facility; the anticipated launch and related timing of the RHA Redensity; the rate and degree of commercial acceptance, opportunity and growth potential of the RHA Collection of dermal fillers, OPUL , and our product candidates, if approved; our strategic priorities; the initiation, design, enrollment, submission, timing and results of our clinical studies; the safety, efficacy and duration

of DaxibotulinumtoxinA for Injection; development of a biosimilar to BOTOX with our partner, Viatris; our business strategy, timeline and other goals, plans

and prospects, including our commercialization plans; the potential benefits of our drug product candidates and our technologies, including DaxibotulinumtoxinA for Injection, the RHA Collection of dermal fillers and the fintech platform; the extent to which our products and services are considered differentiated; and the market, competition and growth potential of OPUL , the RHA Collection of dermal fillers and our dug product candidates, if approved, constitute forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You should not rely upon forward-looking statements

as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance, events, circumstances or

achievements reflected in the forward-looking statements will ever be achieved or occur.

Forward-looking statements are subject to risks and

uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties relate, but are not limited to: the results, timing, costs, and completion of our research and development activities and

regulatory approvals, our ability to remediate deficiencies identified by the FDA and obtain FDA approval of the BLA for DaxibotulinumtoxinA for Injection for glabellar lines, including as a result of observations made by the FDA during the site

inspection or other reasons; our ability to obtain funding for our operations; the timing of capital expenditures; the accuracy of our estimates regarding expenses, future revenues, capital requirements, our financial performance and the economics

of DaxibotulinumtoxinA for Injection, the RHA Collection of dermal fillers and OPUL ; the impact of the COVID-19 pandemic on our

manufacturing operations, supply chain, end user demand for our products and services, the aesthetics market, commercialization efforts, business operations, regulatory meetings, inspections and approvals, clinical trials and other aspects of our

business and on the market; our ability and the ability of our partners to manufacture supplies for our product candidates and to acquire supplies of the RHA Collection of dermal fillers; the

uncertain clinical development process, including the risk that the topline results from the ASPEN-OLS and JUNIPER upper limb spasticity trial are based on our preliminary analysis of key safety and/or

efficacy data, the fact that such data may change following a more comprehensive review and such data may not accurately reflect the complete results of the trial, and the FDA may not agree with our interpretation of such results; the risk that

clinical trials may not have an effective design or generate positive results or that positive results would assure regulatory approval or commercial success; the applicability of clinical study results to actual outcomes; the rate and degree of

economic benefit, safety, efficacy, commercial acceptance, market, competition and/or size and growth potential of the RHA Collection of dermal fillers, OPUL and our drug product candidates, if approved; our ability to continue to successfully commercialize the RHA Collection of dermal fillers

and OPUL and our ability to successfully commercialize DaxibotulinumtoxinA for Injection, if approved, and the timing and cost of commercialization activities; the proper training and

administration of our products by physicians and medical staff; our ability to expand sales and marketing capabilities; the status of commercial collaborations; changes in and failures to comply with privacy and data protection laws; our ability to

effectively manage our

expanded operations in connection with the acquisition of Hint, Inc; the profitability of and our ability to scale OPUL , the features

and functionalities and benefits to practices and patients of OPUL ; interruptions or performance problems associated with HintMD or

OPUL ; our ability to continue obtaining and maintaining intellectual property protection for our drug product candidates; the cost and our ability to defend ourselves in product liability,

intellectual property, class action or other lawsuits; the volatility of our stock price; and other risks. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements

in this press release may be found in our periodic filings with the Securities and Exchange Commission (SEC), including factors described in the section entitled Risks Factors on our Form 10-Q

expected to be filed with the SEC on May 10, 2022. The forward-looking statements in this press release speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.

Use of Non-GAAP Financial Measures

Revance has presented certain non-GAAP financial measures in this release. This release and the reconciliation tables

included herein include non-GAAP selling, general and administrative expenses, which excludes depreciation, amortization and stock-based compensation; non-GAAP R&D

expense, which excludes depreciation, amortization and non-cash stock-based compensation; and total non-GAAP operating expense, which excludes costs of revenue,

depreciation, amortization and stock-based compensation. Revance excludes costs of revenue, depreciation, amortization and stock-based compensation because management believes the exclusion of these items is helpful to investors to evaluate

Revance s recurring operational performance. Revance management uses these non-GAAP financial measures to monitor and evaluate its operating results and trends on an

on-going basis, and internally for operating, budgeting and financial planning purposes. The non-GAAP financial measures should be considered in addition to results

prepared in accordance with GAAP but should not be considered a substitute for or superior to GAAP results.

non-GAAP measures included in this release were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. The company is unable to

reconcile these forward-looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts because the company is currently unable to predict with a reasonable

degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items include costs of revenue,

depreciation, amortization, and stock-based compensation. The unavailable information could have a significant impact on the company s GAAP financial results.

Revance Therapeutics, Inc.:

Jessica Serra, 626-589-1007

Gilmartin Group, LLC.:

Laurence Watts, 619-916-7620

Revance Therapeutics, Inc.:

Sara Fahy, 949-887-4476

Source: Revance Therapeutics, Inc.

REVANCE THERAPEUTICS, INC.

Condensed Consolidated Balance Sheets

(In thousands, except share and per share amounts)

REVANCE THERAPEUTICS, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(In thousands, except share and per share amounts)

REVANCE THERAPEUTICS, INC.

Reconciliation of GAAP SG&A Expense to Non-GAAP SG&A Expense

REVANCE THERAPEUTICS, INC.

Reconciliation of GAAP R&D Expense to Non-GAAP R&D Expense

REVANCE THERAPEUTICS, INC.

Reconciliation of GAAP Operating Expense to Non-GAAP Operating Expense