Shares of Theratechnologies (TSX:TH) have slid from highs near the two-dollar mark last summer to under $.30 today, but company insiders think it’s time to load up.
On Friday, CEO Dawn Svoronos bought 50,500 shares of her own company in the open market. She paid between $.27 and $.28 for the shares.
She was joined, a day earlier, by company insider Gérald Lacoste, who bought 40,000 shares at $.27 and $275.
Theratechnologies’ management is no doubt hoping 2013 will be an improvement over a 2012 that was difficult for its investors. Shares of the company fell in half last June when Ferrer announced it would withdraw the marketing authorization application with the European Medicines Agency for Egrifta, the company’s tesamorelin application proposed for the treatment of excess abdominal fat in HIV patients with lipodystrophy.
Byron Capital healthcare analyst Douglas Loe thinks Theratechnologies will trade sideways until its regulatory status, which has been a persistent theme with the company, is resolved in Latin America and in Europe.
At press time, shares of Theratechnologies on the TSX were even at $.285.