Theratechnologies(US:THTX)2022-10-13 15:38Financial Data and Key Metrics Changes - Consolidated revenue for Q3 2022 was $20.8 million, a 16.6% increase from $17.9 million in Q3 2021 [31] - Net loss for Q3 2022 was $7.5 million, improved from $9.5 million in the same period last year [38] - Cash position at the end of Q3 2022 was $36.5 million, sufficient to finance operations for at least the next 12 months [39] Business Line Data and Key Metrics Changes - EGRIFTA SV net sales reached $12.9 million in Q3 2022, up nearly 50% from $11.2 million in Q3 2021 [31] - Trogarzo net sales amounted to $7.9 million, a 20% increase from $6.6 million in Q3 2021, with a 26% growth in the U.S. [32] Market Data and Key Metrics Changes - Year-to-date U.S. revenue growth was a blended 18%, with Trogarzo revenues up 17% and EGRIFTA SV sales up 18% [19] Company Strategy and Development Direction - The company is focused on enhancing patient experiences through improved administration methods and new formulations, including the recent FDA approval for Trogarzo's 30-second IV push [9][10] - The company aims to unlock value in its legacy business by building its own sales teams and focusing on the U.S. market [8] - The SORT1+ oncology platform remains a key focus for future growth, with ongoing patient recruitment and trial advancements [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue guidance of $79 million to $82 million for fiscal 2022, with expectations for continued growth in the new fiscal year [18][42] - The company is optimistic about the potential for its oncology programs and the NASH program, which remains on pause until a suitable partner is found [28][67] Other Important Information - The company secured a $100 million non-dilutive credit agreement, which alleviates financial burdens and supports commercial and pipeline development plans [20] - The company is conducting human factor studies for EGRIFTA SV and its FA formulation to improve patient adherence [15][17] Q&A Session Summary Question: Is the current SG&A a good run rate going forward? - Management confirmed that SG&A should remain generally in-line for the next couple of quarters [46] Question: Will the intramuscular formulation study for Trogarzo be sufficient for a supplementary BLA? - Management indicated that the study is similar to the IV push study, and they expect to submit to the FDA early next year after data analysis [47][50] Question: What is the annual locked price for EGRIFTA and Trogarzo? - EGRIFTA is approximately $6,500 per month, and Trogarzo is about $2,700 per two-week cycle [55] Question: What is the target enrollment for the TH1902 basket trial? - The target is 70 patients, with recruitment progressing well [60][61] Question: What is the status of partnership discussions for TH1902 in China? - Discussions are ongoing, and interest remains high as efficacy data becomes available [63] Question: What is the current status of the NASH program? - The program is on pause until a partner is found, but there is renewed interest in the NASH space [67][68] Question: How is the market for Trogarzo evolving? - Management noted that Trogarzo addresses a significant unmet need in multidrug-resistant HIV-1 infections, with a market size estimated around 2,000 patients annually [106][107]