MHemorrhage wrote: This is great - thanks, I'll copy/paste yours into my Word doc and edit into mine later what I didn't have/what you better explained. Here's what I had going so far (really hoping the formatting stayed):
THTX/TH - The micro cap you haven’t heard of
Nasdaq: THTX
TSX: TH
Theratechnologies is a commercial-stage biopharmaceutical headquartered in Montreal, Quebec. But before we get to the to the approved drugs’ revenue, the real value in this stock are the two trials in the pipeline:
Phase I Oncology: peptide-drug conjugate (PDC) targeting sortilin receptors (SORT1), selective delivery of anticancer agents into cancerous cells; PDC drugs may be more effective than ADCs (antibody-drug conjugates) (a) FDA accepted THTX as a Phase I cancer player in January 2021 with an IND (b) TH1902 in breast cancer: “TH1902 induced complete tumor regression in Triple-Negative Breast Cancer with no apparent decrease in neutrophil count.” (c) December 2020 saw new pre-clinical in vivo results that additional cancers expressing SORT1 could be receptive to TH1902: ovarian, TNBC, pancreatic, colorectal, endometrial, and melanoma – now all to be tested in the Phase I (d) “In animals, treatment has been shown to slow down tumor growth, or even completely eradicate, without causing weight loss or neutropenia, deleterious side effects often associated with chemotherapy,” said Borhane Annabi, of the Department of Chemistry at UQAM’s Molecular Oncology Laboratory (d) FDA granted THTX Fast Track Designation for TH1902 in February 2021 (e) TH1904 (another PDC) actively awaiting an IND from the FDA
Presenting at American Association for Cancer Research (AACR) in April: This is their second invite to the AACR conference based on their preclinical oncology results. This year, however, they will hopefully be in the beginning of their phase I oncology program. Hoping for more insight on the PDC’s Phase I dosing here.
Phase III NASH: using the already-approved drug tesamorelin that has a proven record of reducing abdominal fat in lipodystrophy patients (a) FDA accepted THTX as a Phase III NASH player in January 2020 (b) Impending Phase III likely to begin summer 2021, still finalizing trial design with EMA (c) Trial design assisted by Dr. Rohit Loomba of UC San Diego (NASH expert), Dr. Steven Grinspoon of Harvard Medical School and Massachusetts General Hospital (Metabolism expert), Dr. Jennifer Cohen Price of UC San Fran (liver disease expert), Dr. Vlad Ratziu of Sorbonne University and Piti-Salptrire Hospital in Paris (NAFLD and NASH expert), Dr. Jrgen Rockstroh of the University of Bonn in Germany (HIV expert), and Dr. Graeme Moyle of Chelsea and Westminster Hospital (HIV and lipodystrophy expert) (d) compare THTX market cap to other Phase III NASH players: [insert current market cap differences]
Current Financial Position: [to be inserted below]
XYZ cash
XYZ current assets (ABC assets
XYZ current liabilities (ABC liabilities, 51M of which is convertible notes at $14.85)
Revenue: XYZ, ABC % YoY
Gross Loss: (XYZ)
Net Loss: (XYZ)
Legacy drugs:
Egrifta (tesamorelin): approved in U.S. and Canada for reduction of abdominal fat in lipodystrophy patients living with HIV. (a) 70K+ lipodystrophy patients with HIV in U.S. (b) re-emphasizing: this drug is what THTX seeks to treat NASH patients with and is already approved and commercialized, a safety profile of over ten years (c) THTX owns 100% of the rights to this drug and has a patent for this indication & NASH through 2040
Trogarzo: approved in U.S., Canada, and Europe as an antiretroviral antibody for MDR (multidrug resistant) HIV-1 infected patients (so patients using it essentially have no other option as they’re multidrug resistant and seemingly cannot use anything else to stabilize (or lower) their viral load – however, there is no reason Trogarzo should be exclusively thought of as an MDR patient’s drug – THTX’s plan (pre-covid) centered around re-educating doctors that Trogarzo can be implemented before a patient is out of other options since it could work more effectively. (a) 20K-25K MDR HIV-1 patients in U.S. (b) THTX has failed to meaningfully capture the number of patients they initially projected – this is the cause of the stock pop in 2018 followed by the selloff; however, prior CEO was not a sales and marketer guy, current CEO is
Disclosure: 6600 shares solely based on the pipeline – obviously the real reason I’m posting: the market is currently only valuing their legacy drugs. Notably, the chairwoman of the board, Dawn Svoronos, bought 74k shares on the open market last year. Levesque (CEO) bought 40k shares in the last bought deal, Director Paul Pommier bought 30k shares in the latest bought deal, and the CFO and Director Trudeau also bought shares in the latest bought deal.