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Evolus (EOLS) Releases Favorable Dermal Fillers Study Data

Evolus, Inc. EOLS has announced favorable results from its pivotal U.S. nasolabial fold (NLF) study of dermal filler products, Evolysse Lift and Smooth. Presented at the 2024 SCALE Meeting, these results represent a significant milestone in the company’s strategic expansion within the aesthetic device market.

These promising results bolster the company’s upcoming Premarket Approval Application (“PMA”) for the U.S. launch of Evolus’s dermal filler lines. Evolus plans to submit the PMA applications for Evolysse Lift and Smooth within 90 days.

Strategic Significance

The addition of Evolysse fillers to the company’s portfolio will perfectly complement Evolus’ flagship neurotoxin Jeuveau, which claims to be the fastest growing neurotoxin in the United States for the past three years. Evolysse with Jeuveau is projected to increase Evolus' total addressable market by 78%.


This expansion positions Evolus as a more formidable player in the aesthetics sector, catering to a broader range of consumer needs.

The company in this regard emphasized the consistency of the U.S. study results with previous European trials, enhancing confidence in the forthcoming FDA submission. One trial investigator in this process noted the precision and efficacy of the Evolysse fillers, particularly praising the novel “Cold Technology” used in their manufacture.

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Study Insights

The pivotal study utilized a multicenter, split-face design, comparing Evolysse Lift and Smooth against Restylane-L in 140 patients. Both Evolysse products not only met the primary endpoint of non-inferiority but also demonstrated superiority in reducing NLF severity over a 12-month period. Importantly, the safety profiles of Evolysse fillers were comparable to their respective controls, with no serious adverse events reported.

Market Prospects

Going by a Coherent Market Insights report, the global aesthetic neurotoxin market is poised for significant growth, projected to expand from $9.01 billion in 2024 to $19.76 billion by 2031, at a CAGR of 11.9%. Key drivers include the rising geriatric population and increasing consumer awareness of cosmetic procedures. Botox and dermal fillers dominate this market, with Botox expected to hold more than 35% share by 2031. Growing demand for minimally invasive treatments and combination therapies further fuels this expansion. Notably, the lip enhancement segment, particularly using hyaluronic acid-based fillers, is set to grow rapidly, driven by the popularity of fuller lips among millennials.

Share Price Performance

Year to date, shares of EOLS have gained 27.5% compared with the industry’s 4.3% rise.

Zacks Rank and Key Picks

Evolus currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Hims & Hers Health HIMS, High Tide HITI and Medpace MEDP. Each of them sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

Hims & Hers Heath stock has rallied 53.3% in the past year. Earnings estimates for the company have risen from 10 cents to 18 cents in 2024 and from 23 cents to 32 cents in 2025 in the past 30 days.

HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.

Estimates for High Tide’s 2024 earnings per share have remained unchanged in the past 30 days. Shares of the company have surged 57.9% upward in the past year against the industry’s fall of 0.6%.

HITI’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 91.7%. In the last reported quarter, it delivered an earnings surprise of 100%.

Estimates for Medpace’s 2024 earnings per share have moved up to $11.29 from $10.53 in the past 30 days. Shares of the company have risen 87.6% in the past year compared with the industry’s 5% growth.

MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.

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