The following is a summary of the Theratechnologies Inc. (THTX) Q3 2024 Earnings Call Transcript:
Financial Performance:
Theratechnologies reported an adjusted EBITDA of $7.2 million and net profit of $3 million for Q3 2024.
Revenues for Q3 2024 were up 8% year-over-year, primarily driven by strong sales of EGRIFTA SV.
Adjusted EBITDA guidance for the full year is increased to $17 million to $19 million.EGRIFTA SV revenues grew notably by 27% year-over-year to $16.7 million.
Trogarzo sales stabilized with Q3 revenues at $5.9 million.
Business Progress:
Strategically focusing on commercializing innovative treatments, the company achieved profitability and adjusted EBITDA positivity.
Theratechnologies is working on a new formulation, F8 of tesamorelin, expected for resubmission to the FDA by end of November.
Progress in Phase I clinical trial of sudocetaxel zendusortide for ovarian cancer, with recruitment completed and no DLTs reported.
Enhancing commercial capabilities and in-licensing discussions signal a strategic push into North American markets.
Opportunities:
Strong demand and performance of EGRIFTA SV present growth opportunities, despite temporary supply constraints.
The potential approval and launch of the new tesamorelin formulation (F8) could expand the product portfolio and address unmet medical needs in HIV treatment.
Risks:
Manufacturing disruptions led to canceled batches of EGRIFTA SV following an FDA inspection, potentially impacting Q4 revenues and total revenue for 2024.
EGRIFTA SV supply constraints, if prolonged, could affect future revenue streams despite strong market demand.
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