Source: LaPress.ca
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  • Theratechnologies (TH) provided business highlights and financial results for the second quarter and first half of fiscal year 2022
  • For the three- and six-month periods ending May 31, 2022, consolidated revenue was US$19,268,000 and US$37,825,000, compared to US$17,787,000 and US$33,217,000 for the same periods last year, representing a year-over-year increase of 8.3 per cent and 13.9 per cent, respectively
  • The company adjusted its fiscal year 2022 revenue guidance to be in the range of US$79 million to US$82 million
  • Cash flows during this time used by operating activities were US$11,736,000, compared to US$2,812,000 in the same period of fiscal 2022
  • Theratechnologies (TH) is down 0.74 per cent trading at $2.63 per share as of 10:00 a.m. ET

Theratechnologies (TH) has provided business highlights and financial results for the second quarter and first half of the fiscal year 2022.

For the three- and six-month periods ending May 31, 2022, consolidated revenue was US$19,268,000 and US$37,825,000, compared to US$17,787,000 and US$33,217,000 for the same periods last year, representing a year-over-year increase of 8.3 per cent and 13.9 per cent, respectively.

Given the company’s expectations from Europe, and first half results, the company has adjusted its fiscal year 2022 revenue guidance to be in the range of US$79 million to US$82 million, or growth of the commercial portfolio to be in the range of 13 per cent and 17 per cent, as compared to last year.

Cash flows during this time used by operating activities were US$11,736,000, compared to US$2,812,000 in the same period of fiscal 2022.

The company’s President and CEO, Paul Lévesque highlighted strategic plans executed, including the decision to focus sales efforts on the United States and initiated the TH1902 Basket Trial, while working on improving the company’s financial position.

“We are pleased with the results of these efforts as our commercial businesses remain on track to meet our fiscal 2022 guidance which now reflects the shift in focus. Onboarding of our dedicated commercial field force in the United States has now been fully completed. Our capital allocation framework continues to prudently support our investment thesis and ability to generate long term value.”

He continued that, despite the challenging environment of the biotech capital markets, the company has successfully extended the financial runway to support its strategic commercial and development activities.

“The transaction with Marathon Asset Management will allow us to rapidly retire more than half of the Company’s convertible notes due in 2023 and has significantly strengthened our balance sheet.”

Theratechnologies commercializes two medicines in HIV and has research programs in NASH, oncology, and HIV.

Theratechnologies (TH) is down 0.74 per cent trading at $2.63 per share as of 10:00 a.m. ET.

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