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Key takeaways from the call include:
In Q3 2023, sales of EGRIFTA SV increased due to a higher selling price, albeit offset by higher rebates to government payers. Sales of Trogarzo, however, dipped by 3.3% compared to Q3 2022, largely due to the decision to cease commercializing the product in Europe. Despite this, the cost of goods sold decreased primarily due to increased sales of EGRIFTA SV, which boasts a higher gross margin. The company also reported lower R&D, selling, and G&A expenses compared to the same period last year.
Theratechnologies’ sBLA for the F8 formulation of EGRIFTA has been filed with the FDA, and approval is expected by the close of March 2024. The company also unveiled plans for a new injection treatment, a water-based monoclonal antibody, which has been well-received by patients.
In the earnings call, Theratechnologies expressed interest in expanding their commercial portfolio, specifically in HIV and HIV-adjacent therapy areas. They also indicated their openness to bolt-on acquisitions and affirmed having the infrastructure to support new assets. Regarding their oncology Phase 1 trial, the company expects to enroll about 16 patients and anticipates signs of efficacy by mid-2024.
The company, listed as NASDAQ:THTX, also reported ongoing discussions with auditors regarding their going concern opinion. Changes made by Marathon, their creditor, have been viewed favorably, reflecting increasing confidence in the company’s ability to achieve its goals. Theratechnologies reiterated its commitment to achieving profitability and creating long-term value for investors.
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