Theratechnologies(THTX) - 2025 Q1 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Total revenues for Q1 2025 reached $19 million, representing a 17% growth from the same period last year [10] - Adjusted EBITDA for Q1 2025 was$ 2.3 million, compared to an adjusted EBITDA loss of $247,000 in the same period last year [28] - The last 12 months adjusted EBITDA figure stands at$ 22.7 million on LTM sales of approximately $89 million, resulting in a margin of over 25% [28] Business Line Data and Key Metrics Changes - Net sales of EGRIFTA SV reached$ 13.9 million in Q1 2025, a 45% increase year-over-year from $9.6 million [30] - Trogarzo net sales in Q1 2025 amounted to$ 5.2 million, a decrease of 22% from $6.7 million in the same quarter last year [31] - Cost of goods sold decreased to$ 3.5 million from $5.3 million in the same quarter last year [32] Market Data and Key Metrics Changes - New enrollments for EGRIFTA SV were up 15% in Q1 2025 compared to the previous year, indicating a growing patient base [16] - The company experienced a temporary drug shortage that impacted sales, resulting in an estimated loss of$ 10 million in revenue [30] Company Strategy and Development Direction - The company is focusing on increasing the bottom line and is committed to prudent spending while expanding its portfolio through acquisitions and in-licensing of late-stage products [22][23] - The strategic priority is to find products that can drive meaningful synergies with the current infrastructure [23] - The company is preparing for the launch of olezarsen and donidalorsen in Canada later this year [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the EGRIFTA franchise, citing increased recognition of excess visceral abdominal fat (EVAF) as a serious health condition [11][56] - The company anticipates continued growth in enrollments and patient numbers, indicating robust demand for its products [58] - Management is closely monitoring the impact of tariffs but does not foresee significant implications for its products [26][70] Other Important Information - The company has mapped out its supply chains in light of potential tariffs and does not expect significant impacts on its operations [26] - The transition from EGRIFTA SV to EGRIFTA WR is planned for early 2026, with a focus on ensuring a seamless process [52] Q&A Session Summary Question: Are you looking for new products in the same therapeutic areas? - The company aims to focus on late-stage products with a high chance of success and synergies with existing infrastructure [41][42] Question: How do you plan to facilitate the transition from EGRIFTA SV to EGRIFTA WR? - The transition will be carefully orchestrated to ensure payers are ready to reimburse the new product, with a planned six-month transition period [52] Question: Why is it taking so long for Trogarzo sales to stabilize? - The company is experiencing a loss of existing patients due to previous higher enrollments, but new enrollments are showing positive growth [64] Question: Do you foresee any tariff impacts on Trogarzo or Ionis products? - The company does not anticipate issues with Trogarzo due to transfer pricing and does not see risks for Ionis products manufactured in Europe [67][68] Question: What is the status of the NASH program? - The company is opportunistic regarding potential partnerships in the NASH space but is not currently focused on this area [72]