Theratechnologies gets soft response to Q1 results

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.