Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Revance Therapeutics (NASDAQ:RVNC), a clinical-stage biopharmaceutical company focused on developing products for use in aesthetic and therapeutic applications, popped as much as 28% after announcing positive results from its phase 1/2 study involving its injectable botulinum toxin type A, known as RT002, for moderate-to-severe glabellar lines.

So what: According to yesterday's after-the-bell press release, RT002, which is designed to treat frown lines in patients, met its primary efficacy and safety endpoints in its study. Following treatment, 94% of the 48-patients in the study were rated as having "none" or "mild" wrinkle severity based on the four-point Global Line Severity Scale at maximum frown after four weeks. In addition, its fourth patient cohort, which measured duration of response, noted a "median duration of 29.4 weeks or 7.3 months based on both investigator and subject assessments."

Now what: There's no way to look at this as anything but positive news for Revance today. Investors should also consider that aesthetics could be among the fastest growing therapeutic fields because many people will gladly pay up to look and feel better about themselves. In other words, Revance Therapeutics certainly looks to be in a high-growth field. But with no FDA-approved products and the company likely staring down a cash burn of close to $50 million per year moving forward, I'm a bit leery of chasing a $600-plus-million valuation any higher. My suggestion would be to stick to the sidelines and wait for more concrete later-stage results before considering the plunge.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.