RE:RE:RE:RE:New Press Release - Theratechnologies Announces Agreement in Principle with Marathon to Amend Some of the Terms and Conditions of its Loan Facility It's a fair price for less stringent, more realistic financial requirements, thus a lot more time in case it's needed to rightsize should TH1902 miss endpoints. Let's not forget that investors previously fully diluted the attached warrants to the previous raise, which are now with an exercise price in the $12+ range. Those will only exercise should TH1902 show promise. We would be happy to see those warrants exercise.
So in a way its 5% dilution that likely will occur in either corp development path -that being revert back to low cost/max profits on sales should TH1902 miss, or partner up for the ovarian indication should we see some decent RECIST responses. The ONO warrants are only an issue for the latter now, so worthless in scenario 1.
Tomorrow will be an interesting read of the financials to see what led to high cash generation and profitability. I think we've covered all the bases here on how the levers can be pulled here and there. Like SPCEO says, it's probably a mixture of many of those, the best would be just plain simple upward surprise on sales generation and cost control.
A full update on cancer trial is definitely needed. At this price, investors are not at all believing the new dosing, targeting and screening will produce any PRs or CRs. In past oncology targeted P1s, a decent number of PRs usually gets the industry excited. If they still have those other two stable disease patients from the Karamos Center that would now be going on something like a year with no disease progression, that might add some confidence around the therapy too. They should speak to those patients that were mentioned in the conf call with the P1A results poster. Please include an update on them Marsolais.