Shares of Theratechnologies (TSX:TH) are down slightly today after the company reported its Q1, 2015 results.
In the quarter, the company lost $914,000 on revenue of $4.56-million, up 72% from Q4’s topline and a significant bump over last year’s Q1 revenue number of $1.67-million.
“As first-quarter results demonstrate, Theratechnologies is executing its business plan well,” said CEO Luc Tanguay. “Fundamentals are all going in the right direction, which brought us close to the break-even point in the first quarter. Growing sales in the United States combined with the approval of the one-milligram-per-vial presentation in Canada and the distribution agreement in Europe will add to our momentum in upcoming quarters.”
Theratech’s sales were from Egrifta, a treatment for the reduction of excess abdominal fat in HIV-infected patients with lipodystrophy. The company purchased the rights for Egrifta back from distributor EMD Serono for $20 million, after several years of regulatory and manufacturing issues.
At press time, shares of Theratechnologies were down 2.4% to $1.22.
We Hate Paywalls Too!
At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.