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 The company's shares plunged 22.5 percent to $14.21 in extended
trading on Monday.
The drug, codenamed RT001, was being studied for the treatment of
moderate to severe lateral canthal lines, which radiate from the
outer corner of the eye, Revance said.
The company said it would also stop developing the drug for the
treatment of underarm sweating, or axillary hyperhidrosis, based on
the results of the study.
Revance will now focus on developing its experimental drug, RT002,
to treat frown lines.
The company said it remained on track to begin a late-stage study of
the treatment in the second half of the year.
(Reporting by Shailesh Kuber in Bengaluru; Editing by Kirti Pandey)
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