Evolus Inc (EOLS) Options

I like the stock and great earnings. Broke out from cup and handle formation.
I just don’t like how the market is right now. It is definitely putting a lid on EOLS.
If it rebounds, then I am hopeful for a run back to 52 week high $15.50 and maybe even a try to break that quadruple top around $15.50 since 2021. Fingers crossed.

Very impressive results .

EOLS reports 2Q24 results—raises 2024 sales guidance $5M:

https://investors.evolus.com/press-releases-and-news/news-details/2024/Evolus-Reports-Second-Quarter-2024-Results-and-Raises-Full-Year-Revenue-Guidance/default.aspx

2Q24 Jeuveau/Nuceiva sales were $66.2M, +12% QoQ — consistent with seasonal patterns in the aesthetics business — and +36% YoY. 95% of Jeuveau/Nuceiva sales were from the US.

2Q24 GAAP loss was ($11.3M) or ($0.18)/sh.

Cash at 6/39/24 was $93.7M, a decrease from $97.0M relative to 3/31/24; the 2Q24 cash burn was lessened by $4.2M proceeds (booked in April) from the underwriter’s option of the public offering in Mar 2024.

2024 revenue guidance (mostly Juveau/Nuceiva sales, but including a small amount of “service revenue”) is now $260-270M, up $5M from the guidance given three months ago; the midpoint of the new guidance range is +31% relative to actual 2023 revenue of $202.1M.

Since it’s just you and me on the EOLS board, I don’t come here much to look at it….funny enough :)

That was a delayed reply, LOL.

He’s buying a house I guess. Would rather see him purchase than sell but not too concerning IMO.

CEO, David Moatazedi sold ~$6M worth of stock last week:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174561523

EOLS 1Q24 CC transcript:

https://finance.yahoo.com/news/q1-2024-evolus-inc-earnings-112413236.html

EOLS reports 1Q24 results—reiterates 2024 guidance:

https://investors.evolus.com/press-releases-and-news/news-details/2024/Evolus-Reports-First-Quarter-2024-Results-and-Provides-Business-Update/default.aspx

1Q24 Jeuveau sales were $59.3M, –3% QoQ (consistent with seasonal patterns in the aesthetics business) and +42% YoY.

1Q24 GAAP loss was ($8.9M) or ($0.22)/sh.

Cash at 3/31/24 was $97.0M, an increase of $34.2M relative to 12/31/23 due to the $47.0M net proceeds from the Mar 2024 public offering.

Excluding the proceeds from the Mar 2024 public offering, 1Q24 operating cash burn was $12.8M.

2024 revenue guidance remains $255-265M, +26-31% relative to 2023.

EOLS sells 4.09M* shares @$14.07—(Friday’s closing price):

https://finance.yahoo.com/news/evolus-announces-pricing-50-0-110000780.html

Net proceeds after underwriting fees will be approximately $54M*.

*Assuming exercise of underwriter’s option.

EOLS 4Q23 CC transcript:

https://finance.yahoo.com/news/evolus-inc-nasdaq-eols-q4-202421474.html

EOLS slides re dermal-filler update:

https://s29.q4cdn.com/603291515/files/doc_financials/2023/q4/Q4-2023-Earnings-Supplemental-Slides.pdf

EOLS reiterates 4Q23 results and 2024 guidance pre-announced on 1/16/24:

https://investors.evolus.com/press-releases-and-news/news-details/2024/Evolus-Reports-Record-Fourth-Quarter-and-Full-Year-2023-Financial-Results-Reaffirms-2024-Guidance/default.aspx

4Q23 Jeuveau sales were $61.0M, +22% QoQ and +40% YoY.

4Q23 GAAP loss was ($11.7M) or ($0.21)/sh.

Cash at 12/31/23 was $62.8M.

2024 revenue guidance remains $255-265M, +26-31% relative to 2023.

EOLS 10Q due March 7

EOLS PR on licensed dermal-filler:

https://finance.yahoo.com/news/evolus-announces-results-european-head-133000744.html The European Lift study was blinded, randomized, 9 months in duration, and enrolled 45 patients. The study was a split face design, in which each patient received Estyme Lift on one side and the control, Restylane-L, on the other side. Using a validated 5-point scale, the change in Nasolabial Fold (NLF) severity from baseline was measured. The primary endpoint of non-inferiority was met at 4 weeks, with the results favoring Estyme Lift, and at 3 and 6 months, Estyme Lift achieved statistical superiority over Restylane-L. A head-to-head versus Juvederm Vollure might have been more illuminating.

EOLS new 52 week high

Love it.

EOLS 2024 sales guidance—>$255-265M, +26-31% YoY:

https://finance.yahoo.com/news/evolus-announces-preliminary-unaudited-fourth-222800064.html

2024 guidance for non-GAAP operating expenses, excluding revenue and COGS, is $185-190M.

EOLS pre-announced 4Q23 sales of approximately $61M, +40% YoY, +22% QoQ. Full 4Q23 financials will be released in early March.

EOLS CEO sold $820K of stock this week at prices of $9.61 - $10.16:

https://www.sec.gov/Archives/edgar/data/1570562/000157056223000117/xslF345X05/wk-form4_1702077349.xml

These sales were not part of a 10b5-01 plan.

Great report

EOLS reports 3Q23 results:

https://investors.evolus.com/press-releases-and-news/news-details/2023/Evolus-Reports-Record-Third-Quarter-2023-Financial-Results-and-Phase-II-Data-for-Extra-Strength-40U-Formulation-of-Jeuveau/default.aspx

3Q23 Jeuveau sales were $49.3M, +1% QoQ and +48% YoY.

3Q23 GAAP net income (loss) was ($17.0M) or ($0.30)/sh.

Cash at 9/30/23 was $38.7M, down from $41.7M at 6/30/23.

EOLS increased 2023 revenue guidance to $194-198M (from the prior range of $185-195M).

https://investors.evolus.com/press-releases-and-news/news-details/2023/Final-Phase-2-Data-Evaluating-40U-Dose-of-PrabotulinumtoxinA-xvfs-to-be-Presented-at-2023-ASDS-Annual-Meeting/default.aspx

EOLS 2Q23 results—6/30/23 cash=$41.7M:

https://investors.evolus.com/press-releases-and-news/news-details/2023/Evolus-Reports-Second-Quarter-2023-Results-and-Provides-Business-Update/default.aspx Cash and cash equivalents at June 30, 2023 were $41.7 million compared to $31.5 million at March 31, 2023. The cash balance at June 30, 2023 included additional borrowings of $25 million under the company’s credit facility with Pharmakon. For the second quarter of 2023, net cash used for operating activities was $13.3 million, which included the $4.4 million license milestone expense. EOLS pre-announced 2Q23 sales of $49.3M last week (#msg-172453778).

Jeuveau hitting its stride and taking share.

EOLS pre-announces 2Q23 sales=$49.3M, +18% QoQ (consistent with seasonal patterns in the US aesthetics business) and +33% YoY:

https://finance.yahoo.com/news/evolus-raises-full-revenue-guidance-124500702.html

EOLS raised 2023 sales guidance by $5M to a range of $185-195M (up from the prior range of $180-190M).

EOLS’ full 2Q23 earnings release is 8/2/23 after the close.

EOLS shareholders_approve 100M—>200M increase_in authorized shares:

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001570562/000157056223000079/eols-20230609.htm

EOLS reports 1Q23 results:

https://www.businesswire.com/news/home/20230509006062/en

1Q23 Jeuveau sales were $41.7M, -4% QoQ (consistent with seasonal patterns in the aesthetics business) and +23% YoY.

EOLS reiterated 2023 revenue guidance of $180-190M.

1Q23 net loss was $12.0M ($5.9M non-GAAP).

Cash at 12/31/22 was $31.5M, down from $53.9M at 12/31/22.

EOLS licenses dermal-filler line for $18M plus royalties on eventual sales:

https://www.businesswire.com/news/home/20230509006122/en Evolus…today announced it has entered into a definitive agreement to be the exclusive U.S. distributor of a line of five unique dermal fillers currently in late-stage development.

…Symatese is a privately held French company that designs, engineers and manufactures regenerative medical solutions based on its innovative technology platforms. Symatese has a unique and combined expertise in the field of hyaluronic acid and injection systems and is well known for the development of the latest generation of Restylane products in the United States…

…beginning with the expected launch of the first two indications in the first half of 2025, followed by a third in 2026 and two more in 2027… the Evolysse portfolio will offer a complete range of filler solutions to cover the spectrum of indications including mid-face, nasolabial folds, lips and eyes.

…In consideration for the exclusive U.S. distribution rights, Evolus will pay Symatese a total of €16.2 million (approximately $17.8 million based on current foreign exchange rates) including an upfront payment of €4.1 million and €12.1 million of additional payments beginning in June 2025. Evolus will also pay Symatese a mid-single-digit royalty based on net sales and a transfer price for the product. The two companies will share responsibility for expenses related to the registration process for the two planned product launches in 2027. EOLS expects the dermal filler line to generate $200M of sales in 2028.

Big buy in EOLS OTM $10 May calls today. 6462 contracts at $0.25.

EOLS 4Q22 CC transcript:

https://finance.yahoo.com/news/q4-2022-evolus-inc-earnings-151237759.html

Yeah….that was the only surprise. They have been saying they won’t need to raise $$ for operations. Reiterated again on the conf call. Also, I think they are more of an acquisition candidate than an acquirer because of their size and singular product. I don’t believe they would be selling shares anywhere in this vicinity either. But I’ll be watching.

The only “surprise” is the refreshed $250M shelf registration and new $50M ATM facility, which EOLS just filed with the SEC:

https://www.sec.gov/Archives/edgar/data/1570562/000162828023007022/evoluss-32023.htm

EOLS says the shelf and/or ATM will only be tapped for M&A and it appears that investors believe them.

No surprises here.

EOLS reports 4Q22 results:

https://investors.evolus.com/press-releases-and-news/news-details/2023/Evolus-Reports-Fourth-Quarter-and-Full-Year-2022-Results-and-Provides-Business-Update/default.aspx

4Q22 Jeuveau sales of $43.6M (pre-announced on 1/18/23: #msg-170403381) were +26% YoY and +29% QoQ (consistent with seasonal patterns in the aesthetics business).

EOLS reiterated 2023 revenue guidance of $180-190M and issued first-time 2023 non-GAAP operating-expense guidance of $145-150M.

Cash at 12/31/22 was $53.9M, down from $65.6M at 9/30/22.

Can’t wait for Aeon to be done. If I had $15MM to allocate, I would have approached them in their desperation to close their deal and taken shares off their hands at these levels. Tang was smart.

Aeon sold 44% of its remaining EOLS shares last week:

https://www.sec.gov/Archives/edgar/data/1570562/000147793223001198/xslF345X03/form4.xml

I really think you are reaching on this one. Besides….Medytox not only gets royalties but owns 20% of the shares.

I don’t see that as “clearly”. But your strong bias against EOLS would make it so for you. Our practice uses all 4 toxins and our staff is part of the PrevU for Daxxify. I see Jeuveau taking share without a doubt. I’m waiting for Daxxify results before I opine but I’m hopeful.

What the CEO clearly means by the "not included" comment is that the existence of the double-dose option is not going to increase Jeuveau sales relative to what they would have been if the double-dose study had never been conducted.

Management must have thought the double-dose study would boost the company's share price, but that didn't happen because investors rightfully saw it as a gimmick. I predict that EOLS will have very little, if anything, to say about this topic when the "final analysis" is completed.

Comments pertain to what? That they aren’t including “extra strength” in the $500MM estimate? Who cares. Injectors aren’t going to be reporting this back to the company so it’s pointless to even have it as a real trackable KPI. Just buy twice as many vials. Use less saline. It’s already being done. And then have a study that backs it up.
$500MM is $500MM regardless which bucket it comes in. Revenue and margins are the same (albeit Intl and US have different arrangements with Daewoong). And yes I’m long EOLS….and RVNC for that matter. Regarding the study….it’s interim analysis with 8 minutes to explain it all. I’ll wait for more details as the study plays out.

Maybe. Aeon Biopharma (EOLS' former parent company) does not seem so confident: #msg-171190307.

There isn’t going to be a real accurate trackable “extra strength” usage.I get that, but the CEO’s comment on the SVB webcast still pertains.

The way the executives danced around the question pertaining to the control arms in the double-dose trial was comical. Unless you're long the stock, of course.

Like it or not, Evolus is going to continue to get Jeuveau from Daewoong (or at worst Medytox).

LOL? You do understand that they use the same 100 unit vials with “regular strength” as they will with “extra strength”? There isn’t going to be a real accurate trackable “extra strength” usage. They just use more vials (units) and less saline. Some injectors/Drs are already doing this. And at the recent SVB conf they said $500MM is a “conservative” estimate, which isn’t a word they have thrown around before.

EOLS’ 2028 forecast of $500M in sales includes no contribution from “double-dose” Jeuveau, according to the CEO’s statement on today’s SVB webcast. LOL

https://wsw.com/webcast/svb8/eols/1625049

Court_ruling_in_Korea_against Daewoong may_end EOLS sales_of Jeuveau—(a/k/a BTX):

https://www.koreabiomed.com/news/articleView.html?idxno=20428 The Seoul Central District Court on Friday ruled in favor of Medytox in the lawsuit filed by Medytox against Daewoong Pharmaceutical...including the prohibition of infringement of trade secrets, and ordered Daewoong to… turn over Daewoong's BTX strain to Medytox, and discard all finished BTX products made with the strain.

The ruling comes after Medytox filed a lawsuit against Daewoong Pharmaceutical for damages of 1.1 billion won in October 2017, claiming that a former employee stole Medytox's BTX strains and product manufacturing process technical documents and provided them to Daewoong Pharmaceutical.

… After the ruling came out, Medytox immediately sent out a press release stating that it had regained the legitimate rights of its BTX strain five years and four months after filing a lawsuit against Daewoong.

… Daewoong said it will appeal the court's decision, saying that the ruling was a “clear misjudgment.”

… On Friday, Medytox's shares surged by a daily limit of 30 percent... Daewoong shares dropped…9.35 percent from the previous day.

As a side effect of the ruling, Hugel, which is currently embroiled in a U.S. International Trade Commission dispute over the origin of its strain with Medytox, also saw the stock price decline…18.17 percent from the previous day.

The ruling will also affect Evlous, which markets Daewoong's BTX products in the U.S., as all of Daewoong's BTX products are currently manufactured in Korea.

As the ruling ordered Daewoong to discard all products made with Medytox's strain, Daewoong's thriving BTX export business will likely ground to a complete halt if Daewoong fails to receive a suspension of execution from the court.

Above all, if the ruling leads to the cancellation of the license for Daewoong's BTX product, the Ministry of Food and Drug Safety may revoke its export permission.

As Evolus' revenue entirely consists of Jeuveau, the company will no longer be able to maintain sales if such a ruling happens. This is an outcome we all knew might happen—see, for instance, #msg-149854993. Moreover, the Korea court ruling announced today may additionally keep Hugel (#msg-165634697) and Aeon (#msg-170687120) off the US market.

EOLS' double-dose dataset cannot be trusted...

The bottom line is that EOLS' double-dose dataset cannot be trusted. EOLS acted deceitfully when they mentioned the phrase "none or mild" in Saturday's PR is a way designed to mislead readers (#msg-171071141, #msg-171071435).

If that weren't enough, EOLS also refused to release the data from the two control arms during today's webcast on the double-dose dataset (#msg-171070830, #msg-171071093). That omission is a tell that doubling the dose did not actually accomplish anything of much consequence with respect to the duration of effect.

Disclosure: I'm long RVNC; no position in EOLS.

EOLS CC slides for double-dose Jeuveau—see_comments_below:

https://s29.q4cdn.com/603291515/files/doc_presentation/2023/2023.01.30-analyst-call-extra-strength-phase-ii-study-interim-results-website.pdf

The slide set does not show duration curves for the 20U-Jeuveau and 20U-Botox control arms! The reason for this omission is probably that the duration metrics in the control arms were similar to—or even indistinguishable from—those for the 40U (double-dose) Jeuveau arm.

EOLS reports double-dose trial_results—see #msg-171059874 for_commentary:

https://www.businesswire.com/news/home/20230128005004/en

EOLS pre-announces 4Q22 Jeuveau sales=$43.6M, +26%YoY:

https://www.businesswire.com/news/home/20230118005311/en

Full-year 2022 Jeuveau sales were $149M. Cash at 12/31/22 was $53.4M, down from $65.6M at 9/30/22 (#msg-170403381).

EOLS issued 2023 sales guidance of $180-190M (+24% YoY at the midpoint of the range) and also announced an “aspirational” goal of $500M in annual sales by 2028. Further, EOLS said its expects non-GAAP profitability in 4Q23.

EOLS plans to announce preliminary data from the phase-2 "double dose" trial on 1/28/23.