The following is a summary of the Theratechnologies Inc. (THTX) Q2 2024 Earnings Call Transcript:
Financial Performance:
Theratechnologies reported second quarter revenue at $22 million, a 25% year-over-year growth.
Recorded $5.5 million of adjusted EBITDA, reflecting a 25% margin.
The company became net income positive for the first time in recent history, reporting a net profit of around $1 million, or $0.02 per share.
Projected annual revenues for the full year 2024 are reaffirmed to be between $87 million and $90 million, with an adjusted EBITDA forecast of $13 million to $15 million.
Business Progress:
Achieved a year-to-date increase of 13% in new enrollments and 16% in unique patients for EGRIFTA SV.
Fully enrolled the second cohort in the Phase 1 clinical trial of sudocetaxel zendusortide, showing signs of durable disease stabilization and efficacy in treating solid tumors.
Pursuing potential partners for additional development steps for oncology programs and overall SORT1+ technology platform.
Opportunities:
Increased demand for treatments addressing central adiposity underpinned by market dynamics around weight loss driven by GLP-1.
Exploring business development opportunities, including acquisitions and commercial partnerships that complement existing business drivers.
Risks:
Faced competitive pressures with Trogarzo, leading to a 13.4% year-over-year reduction in its net sales due to lower unit sales as it lost market share to new entrants in the multi-drug resistant segment of HIV treatment.
More details: Theratechnologies IR
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