April 14, 2020
Theratechnologies Announces Financial Results For The First Quarter of 2020
Montreal, Canada – April 14, 2020 – Theratechnologies Inc. (Theratechnologies) (TSX: TH) (NASDAQ: THTX), a commercial-stage biopharmaceutical company, today announced its financial results for the first quarter ended February 29, 2020.
First quarter 2020 financial highlights
- First quarter net sales of $15,719,000, up 4.1% from the same quarter last year
- Trogarzo® sales up 17.4% from the same quarter last year
- EGRIFTA® and EGRIFTA SVTM sales slightly down from the same quarter last year
- Cash position of $34,770,000 at February 29, 2020
“Our first quarter results show that we were off to a good start, particularly for Trogarzo®. Our job is now to ensure that the current pandemic does not slow down our momentum. As we recently announced, we have enough inventory to meet market demand in territories where we market our products, our supply chain remains intact and our research and development activities are still progressing. This is quite an accomplishment under the circumstances,” said Paul Lévesque, President and CEO, Theratechnologies.
“People living with HIV are particularly at risk if they become infected by the COVID-19. We must convey to physicians the crucial importance of addressing detectable HIV levels to avoid the potentially serious consequences of COVID-19 for people with suppressed immune systems,” added Mr. Lévesque.
“Theratechnologies has all the key elements of a global pharma with end-to-end capabilities and a bright future. I am convinced that we have taken the appropriate steps to continue to move forward,” concluded Mr. Lévesque.