Theratechnologies Inc T.TH

Feedback from today's Meeting with Large Shareholders

[SPCEO1]

The two large shareholders that met with the CEO, CFO and CMO today are seasoned investment industry veterans who are not easily impressed. I am happy to report they came away from today's meetings very encouraged by what they heard. On a scale of 1 to 10, they put the meeting at a 9+. They are very knowledgeable about TH and therefore, the conversation they had with management was very substantive. I am pretty sure that any of us here would have been pretty happy with the way they conducted the meeting and the questions and issues that arose.

There has been some concern that TH was about to reset expectations on the phase 1a trial. That is not what they did at all. Instead, they acknowledged the trial is running longer than initally expected but stated this is not the result of any big problem in the trial. They expressed that they were very happy with the 1a and left the impression that the results were not as far off as some here may have feared. Naturally, they said nothing about efficacy but were clearly upbeat and confident about how things were going in cancer. The phase 1a trial will be followed very quickly by the  phase 1b so there will not apparently be a lot of time, if any, between the two phases of the trial. 

On NASH, the impression was that the situation is not as dead in the water as it appears. I imagine we will believe it when we see it when it comes to NASH but they think they have a really good drug for NASH and are determined to run the phase III in a way that does not blow up shareholders while financing it. The impression was the alternate means of financing it are 
not just a pipe dream. 

There is a decent chance we have a new IR person at THTX soon as final interviews are happening soon.

TH apparently did participate in some way at the virtual JP Morgan conference in early January and had a lot of meetings with institutional investors. It sounded like they were getting closer with JP Morgan as well so perhaps any future offering might be done via JPM??? At the same time, they claim no new financing is contemplated at the moment, but basically all management teams say that.

They confirmed getting Dr. Rothenberg on board was a real coup. I really think this is one of the most important developments at TH recently and it was buried in the last quarter's press release and ignored by the market. 

While the company went silent on us for a very long time and the new corporate presentation left the impression nothing much is going on at TH, my friends walked away from the meeting today believing a lot is going on and that it can't be too much longer before all that TH has been working on starts generating actual news.

They even talked about the climate change article and Paul indicated the newspaper has a reporter they want to have on the company's side, so they are willing to do such fluff pieces in order to build a relationship with them.

[longterm56]

Thanks for the update, SPCEO.  THTX started trading positive for the day 8 minutes after you posted this.  I think more read this board than we think ;)   -LT

[palinc2000]

Did they talk at all about sales?  

[SPCEO1]

If they did, they did not report that to me. I think my friends view the sales of Trogarzo and Egrifta as pretty irrelevant to why they are currently holding the stock. 

[palinc2000]

Not adressing the revenur line in the Income Statement means that they did not adress the bottom line and I guess  anything in between ......AND yet they came out with a 9 plus Rating,,,,,I am flabbergasted!!!

[SPCEO1]

They may ahve but they just did not brief me on it. But, seriously, current and near future sales and earnings from Egrifta and Trogarzo are unlikely to be big drivers for this stock unless they fall apart unexpectedly. So, I think theyspent their limited time with management wisely.

[palinc2000]

THTX at this time does not have the means of its ambitions,,,,Revenue increase is ONE of the means UNDER the Control of management,,,So we will hold managemement accountable for what happens to a  human body once  a new   peptide  is injected inside the human body but not for executing in the operating side of the business,,,,,Whew!!

[stockman75]

Sounds like from the meeting it is all "puppy dogs and rainbows". sounds wonderful but hard not to be skeptical. yes I have great thera fatigue but still hanging on and dreaming...

[SPCEO1]

I certainly know that feeling as do many others. The company has not done a good job at all at alleviating those feelings but today they addressed many of those issues we have been moaning and groaning about and instilled some renewed confidence that all of our patience may yet pay off. Anyone who sells now could well be kicking themselves in the not too distant future for not being able to put up

[SPCEO1]

My strong impression is that, while TH has exhausted the patience of some very, very, very patient investors, that if we can be just a little more patient, we may well see that they do have the means to achieve their abitions. Obviously, a successful phase 1a cancer trial will change the dynamics in a significant way around TH and could lead to a number of things that could provide the means they

[scarlet1967]

Fostemsavir for the treatment of people with HIV-1 | DDDT Fostemsavir for the treatment of people with HIV-1 | DDDT   “The mechanism of action of fostemsavir results in blocking gp120-mediated viral entry, which is similar to ibalizumab, which binds CD4 to interfere with CD4-gp120 interactions, and maraviroc, which binds CCR5 to interfere with CCR5-gp120 interactions. The approval of

[SPCEO1]

How much did National Bank pick up? I assume this was a filing with Sedar as Bloomberg has not picked it up (Bloomberg picks up the SEC filings right away).

[scarlet1967]

270 k!

[scarlet1967]

270k shares!

[jfm1330]

Thanks for the info. Glad to read that.

[SABBOBCAT]

A fluff piece is about where you are vacationing, or home rennovations, etc. Calling out your govenetment and taking a stance on climate change isn't a fluff piece (woke virtue signalling, yes). By using his position as CEO to create friction, Paul is using the company's brand to promote an agenda. The answers today sound more like a CYA response as hopefully our BOD pressed him on this

[jfm1330]

If you are against fighting climate change and vaccinating the planet you are living in an alternate reality. This has nothing to do with a woke agenda, virtue signalling or extreme left. This is just science based realism. It just proves that our CEO is sane.

[qwerty22]

Climate models don't tell us the problem is over-consumption, that's mis-use of science. Still for the majority of the world under-consumption is the pressing issue, the science tells us that but I guess it all depends which science you choose to look at and which problems you prioritize.

[SABBOBCAT]

I never said I was against either. But what do you think PL is paid to do? Hold the gov't accountable for their covid response and climate initives? I was unaware that was in his job description lol. If he wants to do it as a private citizen I am all for it, but not as our CEO

[SPCEO1]

I am with Sabbocat on this. Paul has more relevant things to attend to as CEO of TH. People who have much greater expertise on the subject matter should weigh in and he should leave it to them. 

[jfm1330]

It is impossible for him to make such a public statement as a private citizen. He is well known to be CEO of Thera. So it was either silence or his tatement being associated with who he is publicly. That being said, why do you see it as a bad thing if you are not against what he wrote? He simply said pretty obvious things and to me it is a good thing to hear it from a capitalist businessman

[SABBOBCAT]

Exactly, it is impossible, so senior executive of most public companies do not make these types of statements. They are restricted from, or strongly discouraged from, making political or polarizing statements. The one exception is if the executive is HEAVILY invested in the company. By this I mean paid in capital, not earned options.   The frustrating part is that they haven’t PR'd

[palinc2000]

Most if not all of the CEO s in the oil and gas companies that I am invested in have committed to reducing to cutting down on greenhouse gas emissions and are taking concrete actions to reach their goals and they are also contributing very nicely to my wealth!!! Paul 's only contribution to improving the environnement has been to reduce the purchasing power of THTX 's shareholders

[jfm1330]

Hey! One positive way to look at it from a pure investment standpoint is that if he feels free enough to speak his mind openly like that, it's because he won't need the government to help the company in the future. All that being said, this is anecdotal. Nobody will remember this in a few months. Again, he just said obvious things. Even Legault knows that building a 5 billions tunnel in

[palinc2000]

Who needs the Quebec Govt?  https://www.reuters.com/article/idCNFWN191058

[archeo753]

Thank you for posting this update. 

[jeffm34]

So what exactly then was the point of these meetings that could not have been accomplished with a phone call or better yet a news release to update everybody on what's going on? Instead we'll fly everybody out for a road trip. Doesn't sound all that environmentally friendly to me. Another case of do as I say not as I do.

[SPCEO1]

Good point! Having a virtual call with all shareholders invited could have been done and saved the planet too. I don't think a PR could have possibly covered all the ground they covered this morning though. But I would have been in favor of a shareholder virtual call with an open floor for questions.