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

Core Insights - Theratechnologies Inc. reported a strong financial performance for the fourth quarter and full year of fiscal year 2024, with a revenue increase of 6.6% in Q4 and 5.0% for the full year, driven by sales of EGRIFTA SV® and Trogarzo® [2][30][3] Financial Performance - Fourth-quarter revenue reached $25 million, up from $23.5 million in the same period last year, while annual revenue totaled $85.9 million compared to $81.8 million in 2023 [3][30] - EGRIFTA SV® net sales for Q4 were $17.7 million, a 4.2% increase year-over-year, and full-year sales were $60.1 million, reflecting a 12% growth [2][31] - Trogarzo® net sales in Q4 were $7.3 million, up 12.8% from the previous year, but full-year sales decreased by 8.3% to $25.7 million due to competitive pressures [2][32] - Adjusted EBITDA for Q4 was $7.8 million, a 56% increase from Q4 2023, and for the full year, it surpassed $20 million compared to a negative $3 million in 2023 [3][42] Operational Highlights - The company secured $75 million in new credit facilities, which will enhance liquidity and support growth strategies [3][10] - A temporary supply disruption for EGRIFTA SV® was resolved, allowing the company to resume distribution as of February 13, 2025 [5][49] - 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 the development of its novel peptide drug conjugates [4][13] Cost Management - R&D expenses for Q4 were $5.9 million, up from $5.2 million in the previous year, primarily due to an impairment loss related to the oncology program [20][34] - Selling expenses increased to $7.0 million in Q4, reflecting growth in commercial operations [23] - General and administrative expenses rose to $5.1 million, attributed to higher stock-based compensation [25] Cash Flow and Financial Position - The company reported positive cash flows from operating activities of $2.4 million for the year, a significant improvement from a negative cash flow in 2023 [46][55] - As of November 30, 2024, cash and cash equivalents totaled $5.9 million, with an accumulated deficit of $416.9 million [46]