Theratechnologies - Chair, Dawn Svoronos (right)
Chair, Dawn Svoronos (right)
Source: Theratechnologies
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  • Theratechnologies (TH) has posted net revenue estimates for fourth quarter and the full fiscal year ending Nov 30, 2020
  • The Montreal-based biopharmaceutical company’s consolidated net revenues for the fourth quarter 2020 are expected to be between US$18.9 million and US$19.2 million
  • This is compared to US$16.4 million for the same quarter last year, representing an increase of approximately 15 per cent to 17 per cent
  • The company also received “study may proceed” letters from the FDA for two of its products
  • Theratechnologies is up 13.37 per cent to C$3.73 per share

Theratechnologies (TH) has posted net revenue estimates for fourth quarter and the full fiscal year ending Nov 30, 2020.

The Montreal-based biopharmaceutical company’s consolidated net revenues for fourth quarter 2020 are expected to be between US$18.9 million and US$19.2 million.

That’s compared to US$16.4 million for the same quarter last year, representing an increase of approximately 15 per cent to 17 per cent, and the company’s highest reported quarterly revenues to date.

Consolidated net revenues for the company’s full fiscal year 2020 are expected to be between US$65.8 million and US$66.1 million, compared to US$63.2 million for the fiscal year ending November 30, 2019.

This represents an increase of approximately 4.1 per cent to 4.6 per cent, and the company’s highest reported annual revenues to date.

Theratechnologies President and CEO Paul Lévesque said despite the current pandemic, the company has delivered record sales in the fourth quarter of the 2020 fiscal year.

“We believe that the changes we implemented to our sales infrastructure and commercial strategies at the beginning of the fourth quarter have started to positively impact our business,” he said.

Lévesque said the company’s goals are to expand its commercial business.

Theratechnologies also provided a research and development update about two of its products.

In November 2020, the company filed an Investigational New Drug (IND) application with the United States Food and Drug Administration for the Phase 3 development of tesamorelin for the treatment of adults with Nonalcoholic Steatohepatitis (NASH) with liver fibrosis.

On Thursday, it announced that it received a “study may proceed” letter from the FDA for the Phase 3 trial with a recommendation that it request a meeting to discuss questions and comments received on certain aspects of the proposed trial design, to ensure alignment with the agency’s expectations with NASH trials.

The company also received a second “study may proceed” letter from the FDA for the development of TH1902, its lead peptide-drug conjugate (PDC) (docetaxel conjugate) derived from its SORT1+ Technology platform, for the treatment of various cancers.

The IND application was based on preclinical data obtained in endometrial, ovarian, colorectal, pancreatic, and triple-negative breast cancers.

Lévesque said he’s extremely pleased with the efforts the team has made to achieve these milestones.

“Theratechnologies is in an enviable position with growing sales and a pipeline that has strong potential to address high unmet medical needs,” he added.

Theratechnologies is up 13.37 per cent to C$3.73 per share at 12:40pm EST.

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