The following is a summary of the Theratechnologies Inc. (THTX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Theratechnologies Q1 2024 consolidated revenue fell below expectations.

• Net sales of EGRIFTA SV reached $9.6 million, compared to $12.7 million in Q1 2023.

• Costs of sale were $5.3 million, up from $4.7 million in the same period the previous year, due to a provision related to the F8 formulation's production.

• Trogarzo sales were $6.7 million in Q1 2024, a 7.4% year-on-year decrease.

• The company ended Q1 with a total of $38.5 million in cash, bonds, and money market funds.

• 2024 revenue guidance reaffirmed at between $87 million and $90 million with $13-$15 million adjusted EBITDA.

Business Progress:

• In Q1 2024, EGRIFTA SV new enrollments and unique patients increased by 21% and 14% respectively compared to Q1 2023.

• Inventory challenges resulted in a significant difference in 'days on hand' between Q1 2023 (approximately 55 days) and Q1 2024 (about 27 days).

• More than 40 patients have been treated with sudocetaxel zendusortide as a part of the company's oncology program expansion.

• A potential re-submission of the F8 formulation of tesamorelin and an FDA decision are expected before the end of 2024.

• The company continues to pursue potential partnerships for further developments.

• Upcoming initiatives include intensifying commercial capabilities, completing Part 3 of the Phase I oncology clinical trial, and asset acquisition to add shareholder value.

• An expansion of their partnering strategy for oncology is planned due to positive outcomes from their work with Peptide Drug Conjugates (PDCs).

• There is a continued interest in injectable drugs like EGRIFTA, which have performed well over many quarters despite having a different patient demographic than GLP-1.

More details: Theratechnologies IR

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