Q3 2024 Theratechnologies Inc Earnings Call Transcript
Key Points
- Theratechnologies Inc (THTX) achieved profitability with an adjusted EBITDA of $7.2 million and a net profit of $3 million for the third quarter.
- Revenues for the quarter increased by 8% compared to the same period last year, driven by strong performance of EGRIFTA SV.
- EGRIFTA SV showed double-digit growth in enrollments, unique patients, and units sold year-to-date.
- The company has a strong cash position of close to $39 million, supporting its strategic initiatives.
- Theratechnologies Inc (THTX) increased its adjusted EBITDA guidance to $17 million to $19 million, reflecting strong operational performance.
- The manufacturing of EGRIFTA SV faced a voluntary shutdown, impacting production and creating pressure on current inventory.
- The company revised its top line revenue guidance to $83 million to $85 million due to supply constraints, despite strong demand for EGRIFTA SV.
- Trogarzo sales decreased due to competitive pressures, although they have stabilized recently.
- There is a potential risk of drug shortage for EGRIFTA SV if the manufacturing issues are not resolved promptly.
- The company faces uncertainty regarding the timing of FDA approval for the PAS submission related to EGRIFTA SV manufacturing.
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Theratechnologies third-quarter 2024 earnings call. We would like to remind everyone that all figures on this call are quoted in US dollars. (Operator instructions) I would like to remind everyone that this conference call is being recorded today, Thursday, October 10, 2024 at 8:30 AM Eastern Time.
I will now turn the call over to Julie Schneiderman, Senior Director of Communications and Corporate Affairs at Theratechnologies. Julie, please go ahead.
Thank you, operator, and good morning, everyone. On the call today will be Theratechnologies President and Chief Executive Officer, Mr. Paul Levesque; and Senior Vice President and Chief Financial Officer, Mr. Philippe Dubuc. During the Q&A session, they will be joined by Dr. Christian Marsolais, Senior Vice President and Chief Medical Officer; and John Leasure, the company's Global Commercial Officer.
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