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Theratechnologies gets soft response to Q1 results

Shares of the Theratechnologies 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.
An ad for Egrifta in Manhattan.

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.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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