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
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.