TSXV:TRL.H - Post by User
Comment by
LTOWNERon Jul 31, 2014 10:08am
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Post# 22797954
RE:CC
RE:CCUp Beat.
Rossi: "Last 3 months have been absolutely tremendous for the company with the Natesto approval, Tefina results and moving forward toward becoming a commercial company with the acquisition of Estrace."
Natesto:
- Partnership negotiations are advancing nicely.
- Trimel is negotiating with a couple of companies, so interest level is good.
- They hope to conclude as fast as possible.
- Will be requesting a meeting today or tomorrow with the FDA for October or November. The FDA will hold an advisory committee relative to TRT and possible cardiac issues before meeting with Trimel to discuss BID (2x per day) Natesto dose.
Tefina:
- Final study report will be complete in September and hope to meet with the FDA before the end of the year to discuss the next step.
- Whether they partner for Tefina before or after the next trial will depend on which phase will be done. If it's a higher P2 or P3 they will look to partner to share clinical expenses.
Estrace:
- This was a turnkey acquisition with minimal integration/transition required to market the product.
- Estrace has been growing at 1-2% per year and had revenues of US$10 million in 2013 with very little promotional effort.
- Trimel believes there is an opportuninty to grow sales primarily in Ontario and Western Canada and are beginning a review to determine if they will add resources to this effort.
- They have been distributing Estrace for 1 week and have 40 weeks of inventory (manufactured in the UK) as part of the purchase price. G& P (?) Pharma in Oakville Ontario has been engaged to sell the product.
- They paid < 5x EBITDA for the product and expect strong revenues going forward.
Average monthly cash burn rate is $1.8 million; proforma cash balance at the end of July is $15.5 million