Theratechnologies Reports Financial Results for the Fourth Quarter and Full Year of Fiscal 2024

Core Insights - Theratechnologies Inc. reported strong financial results for Q4 and FY2024, with a notable increase in revenue and positive Adjusted EBITDA, indicating a solid performance and growth potential in its HIV portfolio and new product lines [3][6][30]. Financial Performance - Q4 2024 revenue reached $25 million, a 6.6$85.9 million, up 5.0% year-over-year [2][30]. - EGRIFTA SV net sales for Q4 2024 were $17.7 million, a 4.2$60.1 million, reflecting a 12% growth [2][31]. - Trogarzo net sales in Q4 2024 were $7.3 million, a 12.8$25.7 million due to competitive pressures [2][32][33]. - Adjusted EBITDA for Q4 2024 was $7.8 million, a 56$20.2 million compared to a negative $2.9 million in FY2023 [3][42]. Operational Highlights - The company secured$75 million in new credit facilities, enhancing its financial flexibility and supporting its growth strategy [3][10]. - A temporary supply disruption for EGRIFTA SV was resolved, allowing the company to resume distribution and meet market demand [5][48]. - The FDA has set a PDUFA action date of March 25, 2025, for the updated F8 formulation of tesamorelin, which could replace the current formulation [9]. Strategic Developments - The company in-licensed two new investigational drugs, olezarsen and donidalorsen, to drive long-term growth in Canada [11][60]. - Theratechnologies is actively seeking a partner for its oncology program to advance its novel peptide drug conjugates [4][12]. Cost Management - R&D expenses for FY2024 decreased significantly to $17 million from$30.4 million in FY2023, primarily due to reduced spending on various programs [35]. - Selling expenses for FY2024 were $25.4 million, down from$26.8 million in FY2023, reflecting tighter expense control [38]. Financial Position - As of November 30, 2024, the company had cash and cash equivalents totaling $19.8 million, down from$40.4 million a year earlier, indicating a need for careful cash flow management [53]. - The company reported a net loss of $8.3 million for FY2024, an improvement from a loss of$24 million in FY2023 [44].