Three-month periods ended February 29, 2024 and February 28, 2023 (Unaudited) Exhibit 99.1 Interim Consolidated Financial Statements (In thousands of United States dollars) THERATECHNOLOGIES INC. T H E RAT E C H N O L O G I E S I N C . Ta b l e o f C o n t e n t s ( I n t h o u s a n d s o f U n i t e d S t a t e s d o l l a r s ) ( U n a u d i t e d ) | P | a | g | e | I | n | t | e | r | i | m | C | o | n | s | o | l | i | d | a | t | e | d | S | t | a | t | e | m | e | n | t | s | o | f | F | i | n | a | ...

Theratechnologies Inc. (NASDAQ:THTX) Q4 2023 Earnings Conference Call February 21, 2024 8:30 AM ET Company Participants Julie Schneiderman - Senior Director, Communications and Corporate Affairs Paul Levesque - President and Chief Executive Officer Philippe Dubuc - Senior Vice President and Chief Financial Officer John Leasure - Global Commercial Officer Christian Marsolais - Senior Vice President and Chief Medical Officer Conference Call Participants Carvey Leung - Cantor Fitzgerald Andre Uddin - Research ...

Financial Performance - The Corporation reported a net loss of $24 million for the fiscal year ended November 30, 2023, with no profit generated from operations [45]. - The Corporation experienced negative operating cash flows of $5.7 million for the fiscal year ended November 30, 2023 [49]. - Future financial performance is subject to prevailing economic conditions and the Corporation may not generate sufficient cash flows to service its debt obligations [48]. - The company revised its revenue guidance for the fiscal year ended November 30, 2023, to a range of $82 million to $85 million, down from the initial guidance of $90 million to $95 million [158]. - The Corporation's revenues and expenses may fluctuate significantly, impacting the share price if financial expectations are not met [178]. Liquidity and Debt Obligations - As of November 30, 2023, the Corporation had approximately $40.4 million in cash, bonds, and money market funds, while the principal of the loan to be reimbursed amounted to $60.6 million [39]. - The Marathon Credit Agreement imposes significant operating and financial restrictions, including maintaining a minimum liquidity level of between $15 million and $20 million [56]. - An event of default under the Marathon Credit Agreement could increase the interest rate on the loan by 300 basis points and allow the lender to declare all amounts due immediately [41]. - The interest rate under the Marathon Credit Agreement is based on the Secured Overnight Financing Rate (SOFR) plus 9.5%, which is subject to fluctuations [50]. - The Corporation has drawn $60 million from the Marathon Credit Agreement, which provides a credit facility of up to $100 million [198]. - The second tranche of $20 million from the Marathon Credit Agreement was drawn down on June 21, 2023, after amendments were made to remove certain conditions [200]. - As of October 31, 2023, the Corporation is required to maintain a liquidity level between $15,000,000 and $20,000,000 based on Marathon Adjusted EBITDA thresholds [204]. Product Commercialization and Market Risks - The Corporation's ability to achieve profitability depends on the successful commercialization of EGRIFTA SV® and Trogarzo® in the United States [45]. - The Corporation's commercial success is concentrated on the sales of EGRIFTA SV® and Trogarzo® in the United States, with reliance on third-party payors for reimbursement coverage [58]. - More than 95% of the company's revenues are derived from the sale of EGRIFTA SV® and Trogarzo® through McKesson, its exclusive distributor in the United States [63]. - The company is currently negotiating a new agreement with McKesson, and any failure to reach an agreement could materially adversely affect revenues [63]. - Sales of EGRIFTA SV® and Trogarzo® are highly dependent on patient reimbursement from third-party payors, including U.S. Medicare and Medicaid [81]. - Denial of coverage for EGRIFTA SV® and Trogarzo® under government-funded programs would materially adversely affect revenues [82]. - The company may face challenges in market acceptance of its products, which will depend on factors such as safety, effectiveness, and competition [83]. - Significant safety problems with EGRIFTA SV® and Trogarzo® could result in product recalls or restrictions, adversely affecting business prospects [79]. Regulatory and Compliance Risks - The company faces potential violations of applicable laws if it fails to meet FDA requirements, which could result in significant operational and financial repercussions [101]. - Regulatory compliance risks are heightened due to complex federal and state laws, which could lead to penalties and affect commercialization efforts [114]. - The company is exposed to potential product liability claims, which could result in costly litigation and significant liabilities [145]. - Non-compliance with regulatory requirements could lead to sanctions, including product recalls and fines, adversely affecting the company's reputation and financial condition [125]. - The company must comply with privacy laws in Canada and Europe, increasing its responsibility regarding data protection [151]. Research and Development - The research and development activities are costly and risky, with no assurance that new drug candidates will yield positive results [88]. - The Phase 1 clinical trial for sudocetaxel zendusortide has resumed, focusing on high-grade serous ovarian cancer, but is contingent on achieving positive Adjusted EBITDA [91]. - The FDA issued a Complete Response Letter (CRL) regarding the F8 Formulation, raising questions about chemistry, manufacturing, and controls, which could lead to additional expenses [95]. - The company must complete a Human Factors Study (HFS) for EGRIFTA SV® by September 15, 2024, or face potential sanctions and operational impacts [100]. - The development of sudocetaxel zendusortide is uncertain, and failure to find a partner could lead to cancellation of the program, adversely affecting the drug pipeline [89]. Intellectual Property and Competition - The patent protection for tesamorelin related to the reduction of excess abdominal fat in HIV-infected adult patients expired in August 2023, leading to potential competition from biosimilar versions of EGRIFTA SV® [126]. - The formulation of EGRIFTA SV® is not patent protected, which may result in reduced revenues due to competition from biosimilars [127]. - If a biosimilar version of EGRIFTA SV® is approved, it is expected to be priced lower, potentially necessitating a price reduction for EGRIFTA SV®, adversely affecting revenue [129]. - The biopharmaceutical industry is highly competitive, with significant competition for products like Trogarzo® and EGRIFTA SV® from other approved drugs and therapies [85]. Corporate Governance and Shareholder Matters - The Corporation's Common Shares may be delisted from Nasdaq if the minimum bid price remains below $1.00 for 30 consecutive trading days [174]. - The Corporation has never declared or paid cash dividends on its Common Shares and does not anticipate doing so in the foreseeable future [197]. - The liquidity of the Corporation's Common Shares is uneven, which may affect the ability of shareholders to buy or sell shares [172]. - The Corporation's shareholder rights plan could delay or deter a change of control [183]. - The dual listing on Nasdaq and TSX may increase share price volatility due to differing market conditions [171]. Strategic Initiatives - The Corporation initiated a reorganization of its research and development activities, expecting annualized savings of at least $5,500,000 for the fiscal year ending November 30, 2024 [208]. - The Corporation's business strategy focuses on growing revenues and Adjusted EBITDA from existing and potential future assets in North America [217]. - The Corporation intends to use the net proceeds from the 2023 Public Offering for general corporate purposes, including working capital and potential acquisitions [212].

Financial Performance - Adjusted EBITDA for Q4 2023 was $4.965 million, a significant improvement from $(2.439) million in Q4 2022[1] - Net loss for Q4 2023 was $2.755 million ($0.08 per share), compared to a net loss of $7.929 million ($0.09 per share) in Q4 2022[2] - Consolidated revenue for Fiscal 2023 was $81.764 million, a 2.1% increase from $80.057 million in Fiscal 2022[3] - Q4 2023 revenue reached a record $23.452 million, a 9.5% increase from $21.421 million in Q4 2022[12] - Adjusted EBITDA for Fiscal 2023 was $(2,907,000), an improvement from $(22,088,000) in Fiscal 2022, despite negative impacts from sudocetaxel zendusortide material expenses ($3,749,000) and BWFI production expenses ($536,000) in the first half of the year[45] - Net loss for Fiscal 2023 was $23,957,000 ($0.91 per share), a significant improvement from $47,237,000 ($1.98 per share) in Fiscal 2022[46] Product Sales - EGRIFTA SV® net sales grew 6.4% to $53.705 million in Fiscal 2023, driven by higher unit sales and net selling price[4] - Trogarzo® net sales decreased 5.2% to $28.059 million in Fiscal 2023, impacted by inventory drawdowns and higher rebates[5] - EGRIFTA SV® Q4 2023 sales increased 17.3% to $16.958 million, driven by higher unit sales[13] - Trogarzo® Q4 2023 sales decreased 6.7% to $6.494 million, mainly due to lower unit sales[14] Revenue and EBITDA Guidance - 2024 revenue guidance is set at $87-90 million, with Adjusted EBITDA expected to be $13-15 million[11] Research and Development (R&D) Expenses - R&D expenses decreased to $5.229 million in Q4 2023 from $9.455 million in Q4 2022, due to lower spending on clinical trials and completed projects[16] - R&D expenses decreased by 17.8% to $30,370,000 in Fiscal 2023, primarily due to reduced spending on oncology programs and reorganization-related severance costs of $1,384,000[40] Selling and Administrative Expenses - Selling expenses dropped to $26,769,000 in Fiscal 2023 from $39,391,000 in Fiscal 2022, largely due to the exit from the European Trogarzo® market and reduced amortization expenses for commercialization rights[41] - General and administrative expenses decreased to $15,617,000 in Fiscal 2023, partly due to the termination of Trogarzo® commercialization in Europe and reorganization-related severance costs of $359,000[43] Cash and Liquidity - Cash, bonds, and money market funds totaled $40,387,000 as of November 30, 2023, up from $33,070,000 in 2022, with $20,000,000 required to meet liquidity covenants[39] - The company's current cash, bonds, and money market funds amounted to $40,387,000, exceeding the minimum liquidity requirements of $15,000,000 to $20,000,000 under the Marathon Credit Agreement[55] Loan Facility and Credit Agreement - The company failed to meet conditions to draw down the third ($15,000,000) and fourth ($25,000,000) tranches of the Loan Facility, which will expire after March 31, 2024[30] - Net finance costs increased to $12,909,000 in Fiscal 2023, driven by higher interest expenses on the Loan Facility ($3,906,000) and amendments to the Marathon Credit Agreement ($3,540,000)[44] - Amendments to the Marathon Credit Agreement revised minimum liquidity requirements to $15,000,000-$20,000,000 and shifted revenue requirements to Marathon Adjusted EBITDA targets[50] - The Marathon Credit Agreement revised minimum liquidity requirements to $15,000,000 to $20,000,000 based on Marathon Adjusted EBITDA thresholds starting October 31, 2023[55] - The company currently meets the Marathon Adjusted EBITDA targets and projects continued compliance through expense management[55] Restructuring and Reorganization - Restructuring costs in 2023 included severance and other expenses related to the reorganization announced in July and completed in October 2023[57] Risks and Uncertainties - The company faces going concern uncertainty due to negative cash flows from operating activities ($5,678,000) and reliance on adherence to the Marathon Credit Agreement conditions[47][52] - Risks include potential defaults under the Marathon Credit Agreement, which could trigger a 300 basis points increase on the outstanding loaned amount[59] - The company faces risks of decreased or stagnant product sales in 2024, product recalls, or regulatory changes impacting sales[59] - Potential non-approval of the F8 formulation by the FDA upon resubmission poses a risk to the company[59] - The company may face challenges in identifying additional commercial assets or entering into satisfactory commercial agreements[59] - Forward-Looking Statements reflect expectations as of the press release date and are subject to risks and uncertainties beyond the company's control[60] Capital Raising - The company realized net proceeds of $23,575,000 from the issuance of Common Shares and Exchangeable Subscription Receipts during Q4 Fiscal 2023[54]

Financial Data and Key Metrics Changes - The company reported third-quarter revenues of $21 million, recovering from a difficult second quarter impacted by inventory buildup [39] - Adjusted EBITDA for the third quarter was $2.2 million, a significant improvement from negative $3.9 million in the same period last year [69][75] - The company ended the third quarter with $22.9 million in cash, bonds, and money market funds [58] Business Line Data and Key Metrics Changes - Net sales of EGRIFTA SV reached $13.2 million in Q3 2023, up from $12.9 million in Q3 2022, driven by a higher selling price [55] - Trogarzo net sales in Q3 2023 amounted to $7.7 million, a decrease of 3.3% year-over-year, primarily due to the cessation of commercialization in Europe [43] Market Data and Key Metrics Changes - The company is seeing increased interest from healthcare providers in treating patients with excess visceral fat, which is expected to drive future growth [40] - The company anticipates a strong Q4 based on current trends and historical performance [5] Company Strategy and Development Direction - The company is focused on maintaining a strong cash balance and discipline around long-term financial objectives, with a goal of revenue strength and improved profitability [37] - The company is exploring bolt-on acquisitions and partnerships, particularly in HIV and adjacent therapies, to enhance its commercial portfolio [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing new patients and converting them into prescriptions, paving the way for a strong 2024 [6] - The company is optimistic about the upcoming FDA approval for the IV Push administration of Trogarzo and the potential for the intramuscular formulation [40] Other Important Information - The company has modified its loan covenants with Marathon, reflecting increased confidence in its ability to execute its goals [38][76] - R&D expenses decreased by 36% in Q3 2023 compared to the same period last year, primarily due to lower spending on oncology programs [44] Q&A Session Summary Question: Was there a pullback in volumes over the summer? - Management noted that while there was early-year churn in the patient base, overall growth in the total patient base is now above last year [3] Question: What is the expectation for Q4 revenue? - Management indicated that Q4 revenue is expected to be strong, primarily driven by volume, with no price increases planned [4] Question: Can you discuss the quality and type of assets being considered for expansion? - The company is looking at HIV and adjacent businesses, as well as rare disease products that fit its model [7][8] Question: What is the expected impact of the F8 formulation on revenue growth? - Management believes the F8 formulation will facilitate patient capture and improve the patient experience, contributing to revenue growth [12][13] Question: What are the expectations for R&D spending as enrollment picks up for the Phase 1 trial? - R&D spending is expected to be staged, with a focus on partnerships for future phases of development [66]

[Interim Consolidated Financial Statements](index=3&type=section&id=Interim%20Consolidated%20Financial%20Statements) This section presents the company's unaudited financial position, performance, equity changes, and cash flows for the interim period [Interim Consolidated Statements of Financial Position](index=3&type=section&id=Interim%20Consolidated%20Statements%20of%20Financial%20Position) The company's financial position weakened, marked by a significant decrease in total assets, a reclassification of major debt to current liabilities, and a growing equity deficit Financial Position Summary | Financial Item | August 31, 2023 ($'000) | November 30, 2022 ($'000) | Change ($'000) | | :--- | :--- | :--- | :--- | | Total current assets | 40,565 | 73,370 | (32,805) | | Total assets | 56,686 | 93,260 | (36,574) | | Total current liabilities | 97,656 | 114,279 | (16,623) | | Total liabilities | 98,390 | 115,831 | (17,441) | | Total equity | (41,704) | (22,571) | (19,133) | - The Loan Facility of **$57.1 million** was classified as a current liability as of August 31, 2023, a significant shift from its prior non-current status that contributed to the large working capital deficit[3](index=3&type=chunk) - Inventories saw a sharp decline from **$19.7 million to $6.7 million**, and cash decreased from **$23.9 million to $15.0 million**, indicating significant use of working capital[3](index=3&type=chunk) [Interim Consolidated Statements of Comprehensive Loss](index=4&type=section&id=Interim%20Consolidated%20Statements%20of%20Comprehensive%20Loss) The company narrowed its net loss to $21.2 million from $39.3 million year-over-year, driven by reduced operating expenses despite flat revenue and rising finance costs Comprehensive Loss Summary | Metric | Nine Months Ended Aug 31, 2023 ($'000) | Nine Months Ended Aug 31, 2022 ($'000) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Revenue | 58,312 | 58,636 | -0.5% | | Total operating expenses | 71,609 | 92,836 | -22.9% | | Loss from operating activities | (13,297) | (34,200) | +61.1% | | Finance costs | (10,334) | (5,337) | -93.6% | | Net loss for the period | (21,202) | (39,308) | +46.1% | | Basic and diluted loss per share | $(0.88) | $(1.65) | +46.7% | - The reduction in operating loss was primarily driven by lower selling expenses (down to **$20.0M** from $31.6M) and R&D expenses (down to **$25.1M** from $27.5M)[4](index=4&type=chunk) [Interim Consolidated Statements of Changes in Equity](index=5&type=section&id=Interim%20Consolidated%20Statements%20of%20Changes%20in%20Equity) The total equity deficit increased from $22.6 million to $41.7 million, primarily due to the $21.2 million net loss incurred during the nine-month period Changes in Equity Summary | Equity Component | Amount ($'000) | | :--- | :--- | | Balance as at November 30, 2022 | (22,571) | | Net loss for the period | (21,202) | | Other comprehensive income | 201 | | Share-based compensation | 1,853 | | Other transactions with owners | 15 | | **Balance as at August 31, 2023** | **(41,704)** | [Interim Consolidated Statements of Cash Flows](index=6&type=section&id=Interim%20Consolidated%20Statements%20of%20Cash%20Flows) The company experienced a net cash decrease of $8.9 million, with significant financing outflows for note repurchases partially funded by new loan proceeds Cash Flow Summary | Cash Flow Activity | Nine Months Ended Aug 31, 2023 ($'000) | Nine Months Ended Aug 31, 2022 ($'000) | | :--- | :--- | :--- | | Cash flows from (used in) operating activities | (1,572) | (9,491) | | Cash flows from investing activities | 966 | 5,116 | | Cash flows used in financing activities | (8,318) | 7,491 | | **Net change in cash during the period** | **(8,924)** | **3,116** | - A major financing activity was the repurchase of convertible unsecured senior notes for **$27.5 million**, funded in part by proceeds of **$20.0 million** from the Loan Facility[10](index=10&type=chunk) [Notes to Interim Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Interim%20Consolidated%20Financial%20Statements) This section provides detailed explanations of accounting policies, financial statement line items, and significant events impacting the company's performance [Note 1: Basis of preparation](index=7&type=section&id=1.%20Basis%20of%20preparation) A material uncertainty exists regarding the company's ability to continue as a going concern due to a loan covenant default and reliance on future events - On July 31, 2023, the company executed a **1-for-4 consolidation** of its common shares, and all share and per-share data has been retrospectively adjusted[16](index=16&type=chunk) - Management has identified a **material uncertainty** that casts substantial doubt on the Company's ability to continue as a going concern due to a loan covenant default, negative cash flows, and reliance on future waivers and approvals[19](index=19&type=chunk)[20](index=20&type=chunk)[23](index=23&type=chunk) - The financial statements do not include any adjustments that might be necessary if the company is unable to continue as a **going concern**[24](index=24&type=chunk) [Note 2: Significant accounting policies](index=10&type=section&id=2.%20Significant%20accounting%20policies) The company voluntarily changed its policy to classify interest paid and received as operating activities, requiring a restatement of prior-period cash flow figures - The company voluntarily changed its accounting policy to classify interest paid and received within **operating activities** on the statement of cash flows[31](index=31&type=chunk) - As a result of the policy change, the comparative 2022 cash flow statement was recast, decreasing cash used in operations by **$3.0 million**[32](index=32&type=chunk) [Note 3: Revenue](index=12&type=section&id=3.%20Revenue) Total net sales remained flat year-over-year at $58.3 million, with revenue dominated by two key products sold almost exclusively in the United States Revenue by Product | Product | Nine Months Ended Aug 31, 2023 ($'000) | Nine Months Ended Aug 31, 2022 ($'000) | | :--- | :--- | :--- | | EGRIFTA SV® | 36,747 | 35,996 | | Trogarzo® | 21,565 | 22,640 | | **Total** | **58,312** | **58,636** | Revenue by Geography | Geography | Nine Months Ended Aug 31, 2023 ($'000) | Nine Months Ended Aug 31, 2022 ($'000) | | :--- | :--- | :--- | | United States | 57,882 | 57,450 | | Europe | 344 | 1,028 | | Canada | 86 | 158 | | **Total** | **58,312** | **58,636** | [Note 4: Finance income and finance costs](index=13&type=section&id=4.%20Finance%20income%20and%20finance%20costs) Net finance costs increased significantly to $7.6 million, driven by higher interest expense and a one-time $2.65 million loss on debt modification Finance Costs Breakdown | Item | Nine Months Ended Aug 31, 2023 ($'000) | Nine Months Ended Aug 31, 2022 ($'000) | | :--- | :--- | :--- | | Interest on convertible notes and Loan Facility | (5,902) | (2,679) | | Loss on debt modification – Issuance of Marathon Warrants | (2,650) | - | | **Total Finance Costs** | **(10,334)** | **(5,337)** | [Note 5: Inventories](index=14&type=section&id=5.%20Inventories) The company recognized a $170,000 provision for an unapproved product formulation and returned $3.3 million of inventories to a supplier - An inventory provision of **$170k** was recorded for the F8 formulation of tesamorelin, pending its marketing approval[38](index=38&type=chunk) - In the second quarter of 2023, inventories valued at **$3,295k** were returned to TaiMed Biologics Inc, reducing accounts payable by $3,399k[39](index=39&type=chunk) [Note 6: Provisions](index=14&type=section&id=6.%20Provisions) A restructuring plan initiated in July 2023 resulted in a new provision of $719,000 for severance and other related expenses - In July 2023, the company initiated a reorganization focused on its **R&D activities** due to weak revenues in the first half of the year[40](index=40&type=chunk) - A restructuring charge of **$719k** was recorded in Q3 2023, with an additional charge of approximately **$335k** expected in Q4 2023[40](index=40&type=chunk) [Note 7: Loan Facility](index=15&type=section&id=7.%20Loan%20Facility) The company breached a minimum liquidity covenant on its $100 million loan facility, with future funding contingent on meeting revised targets and regulatory approvals - The company breached a **minimum liquidity covenant** on its Loan Facility on July 3, 2023, which constituted an event of default[43](index=43&type=chunk) - The company drew down the **$20 million Tranche 2 Loan** on June 21, 2023, bringing the total outstanding balance to $57.1 million on a carrying value basis[45](index=45&type=chunk)[47](index=47&type=chunk) - Availability of the **$15 million Tranche 3 Loan** is conditional upon FDA approval for the F8 formulation of tesamorelin by March 31, 2024, and meeting a $90 million revenue target[45](index=45&type=chunk) [Note 8: Convertible unsecured senior notes](index=17&type=section&id=8.%20Convertible%20unsecured%20senior%20notes) The company fully redeemed all outstanding convertible unsecured senior notes for $27.5 million in cash, extinguishing this liability - On June 30, 2023, the Company redeemed all of its issued and outstanding convertible unsecured senior notes for a cash payment of **$27,452k**[49](index=49&type=chunk) [Note 9: Lease liabilities](index=18&type=section&id=9.%20Lease%20liabilities) Lease liabilities decreased from $1.9 million to $1.1 million following the termination of a lease in Ireland, which resulted in a gain of $121,000 - The company terminated its lease in Ireland on February 17, 2023, reducing lease liabilities by **$920k** and recognizing a gain on termination of **$121k**[51](index=51&type=chunk) [Note 10: Share capital and warrants](index=19&type=section&id=10.%20Share%20capital%20and%20warrants) The company issued 5 million warrants to its lender as part of a loan amendment, which are classified as a derivative financial liability - On February 27, 2023, the company issued **5,000,000 common share purchase warrants** (the "Marathon Warrants") to its lender as consideration for amending the Loan Facility[53](index=53&type=chunk) - The Marathon Warrants are accounted for as a **derivative financial liability** measured at fair value, resulting in a **$2.65 million loss** on debt modification[53](index=53&type=chunk)[55](index=55&type=chunk) - The company's stock option plan was amended to allow for issuance up to **17% of outstanding common shares** and includes an "evergreen" feature[57](index=57&type=chunk) [Note 11: Supplemental cash flow disclosures](index=25&type=section&id=11.%20Supplemental%20cash%20flow%20disclosures) The company disclosed non-cash activities, including $400,000 in loan issuance costs that were accrued rather than paid in cash during the period Non-Cash Transactions | Non-Cash Transaction | August 31, 2023 ($'000) | August 31, 2022 ($'000) | | :--- | :--- | :--- | | Costs related to issuance of Loan Facility included in accounts payable | 400 | 202 | [Note 12: Financial instruments](index=25&type=section&id=12.%20Financial%20instruments) A schedule of contractual maturities reveals significant near-term obligations, with $43.4 million in financial liabilities due in less than one year Contractual Maturities of Financial Liabilities | Liability | Carrying Amount ($'000) | Less than 1 year ($'000) | 1 to 2 years ($'000) | More than 3 years ($'000) | Total Contractual Amount ($'000) | | :--- | :--- | :--- | :--- | :--- | :--- | | Accounts payable and accrued liabilities | 30,457 | 30,457 | - | - | 30,457 | | Loan Facility, including interest | 57,143 | 12,415 | 51,849 | 18,028 | 82,292 | | Lease liabilities | 1,096 | 486 | 618 | 128 | 1,232 | [Note 13: Determination of fair values](index=26&type=section&id=13.%20Determination%20of%20fair%20values) The company classifies its financial instruments into a three-level hierarchy, with warrants and deferred stock units valued using Level 3 unobservable inputs - The company uses a **three-level hierarchy** to determine the fair value of its financial instruments[72](index=72&type=chunk) - The Marathon Warrants and deferred stock units (DSUs) liability are considered **Level 3** in the fair value hierarchy, valued using models with unobservable market data[77](index=77&type=chunk) [Note 14: Operating segments](index=27&type=section&id=14.%20Operating%20segments) The company operates as a single segment and has a significant customer concentration, with over 99% of revenues generated from a single customer - The company has a **single operating segment**[78](index=78&type=chunk) - There is a high customer concentration, with **over 99% of revenues** for the nine months ended August 31, 2023, coming from one customer, RxCrossroads[78](index=78&type=chunk)[79](index=79&type=chunk) [Note 15: Subsequent events](index=28&type=section&id=15.%20Subsequent%20events) After the reporting period, the company obtained a waiver for its loan covenant breach and agreed to amend the facility to include EBITDA-based targets - On September 21, 2023, the company obtained a **waiver from its lender** with respect to the previously disclosed Liquidity Breach[81](index=81&type=chunk) - An agreement in principle was reached to amend the Loan Facility, moving from quarterly revenue targets to **adjusted EBITDA-based targets**[82](index=82&type=chunk) - As part of the loan amendment, the company agreed to reprice the 5,000,000 Marathon Warrants, lowering the exercise price to **$2.30 per share**[82](index=82&type=chunk)[83](index=83&type=chunk)

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2023 was $17.5 million, down 8.9% from $19.3 million in Q2 2022 [21] - Net sales of EGRIFTA SV reached $10.9 million, a decrease of approximately 5% year-over-year [21] - Trogarzo net sales amounted to $6.7 million, down 14.7% from $7.9 million in the same quarter of 2022 [48] - Adjusted EBITDA for Q2 2023 was negative $6.1 million, an improvement from negative $11.7 million in the same period last year [52] Business Line Data and Key Metrics Changes - EGRIFTA SV net sales for the six-month period ended May 31, 2023, were $23.6 million, representing a growth of 1.9% compared to $23.1 million in the same period in 2022 [22] - Trogarzo sales were impacted by inventory adjustments and greater than anticipated rebates to government payers [48][49] - Selling expenses decreased significantly to $6.5 million in Q2 2023 from $15.4 million in the same period last year [25] Market Data and Key Metrics Changes - New prescription growth for EGRIFTA was reported at 28%, exceeding initial estimates [33] - The company is focusing on high-grade serous ovarian cancer for the Sudocetaxel Zendusortide trial, which is expected to have a substantial market opportunity due to unmet needs [66] Company Strategy and Development Direction - The company is implementing a recalibration of its business to focus on commercial operations and aims to become adjusted EBITDA positive by year-end [121] - There is a strategic shift towards potential bolt-on acquisitions in HIV or adjacent markets to enhance growth [32] - The company plans to accelerate its oncology program while managing costs effectively [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged disappointing sales in the first half of 2023 but expressed confidence in a stronger second half [8] - The company is committed to reducing R&D expenses by $5.5 million annually to align with its profitability goals [42] - Management emphasized the importance of transitioning to non-pill regimens in HIV treatment, which could enhance the market position of Trogarzo [44] Other Important Information - The company ended Q2 2023 with $25.4 million in cash, bonds, and money market funds [53] - The FDA has agreed to a prior approval labeling supplement for Trogarzo, with a PDUFA date set for December 14, 2023 [18] Q&A Session All Questions and Answers Question: Can you quantify the impact on revenue in 2022 of the buildup in inventory? - Management indicated that the buildup in inventory had a significant impact on revenue, but specific quantification was not provided [31] Question: What characteristics are you looking for in a potential bolt-on acquisition? - The company is looking for products that can be integrated into its existing commercial platform, potentially in HIV or metabolic disorders [32] Question: How many ovarian cancer patients do you think could benefit in the U.S.? - The focus is on high-grade serous ovarian cancer, with a total of 16 patients expected to be enrolled in the study [35][66] Question: What is the status of the F8 formulation? - The F8 formulation is on track for submission by the end of September 2023, with potential approval by the end of Q1 2024 [45][72] Question: Can you provide more details on the Trogarzo rebate situation? - The rebate situation was affected by a less favorable patient mix, particularly with an increase in Medicaid patients [93]

Exhibit 99.1 Interim Consolidated Financial Statements (in thousands of United States dollars) THERATECHNOLOGIES INC. Three- and six-month periods ended May 31, 2023 and 2022 (Unaudited) THERATECHNOLOGIES INC. Table of Contents (in thousands of United States dollars) (Unaudited) | | Page | | --- | --- | | Interim Consolidated Statements of Financial Position | 1 | | Interim Consolidated Statements of Comprehensive Loss | 2 | | Interim Consolidated Statements of Changes in Equity | 3 | | Interim Consolidated ...

Theratechnologies Inc. (NASDAQ:THTX) Q1 2023 Earnings Conference Call April 12, 2023 8:30 AM ET Company Participants Elif McDonald - Head of Investor Relations Paul Levesque - President and Chief Executive Officer John Leasure - Global Commercial Officer Philippe Dubuc - Chief Financial Officer Christian Marsolais - Chief Medical Officer Conference Call Participants Louise Chen - Cantor Justin Walsh - JonesTrading Edward Nash - Canaccord Genuity Endri Leno - National Bank Operator Good morning, ladies and g ...

Exhibit 99.1 Interim Consolidated Financial Statements (In thousands of United States dollars) THERATECHNOLOGIES INC. Three-month periods ended February 28, 2023 and 2022 (Unaudited) T H E RAT E C H N O L O G I E S I N C . Ta b l e o f C o n t e n t s ( I n t h o u s a n d s o f U n i t e d S t a t e s d o l l a r s ) ( U n a u d i t e d ) I n t e r i m C o n s o l i d a t e d S t a t e m e n t s o f F i n a n c i a l P o s i t i o n I n t e r i m C o n s o l i d a t e d S t a t e m e n t s o f C o m p r e ...