Theratechnologies Inc T.TH

RE:RE:RE:RE:RE:Our new Board Member

[Bucknelly21]

SPCEO1 wrote: Had I voted our shares against the board, the board still would have been re-elected anyway. Another large shareholder I know did as I did and voted for the board, but if we both had voted against the board, the board still would have been re-elected. A third large shareholder I know did decide to vote against two board members and that is one reason why they had low vote totals. In the end, the swing vote was a fourth person, a large Canandian shareholder and he decided early on he was voting for management. Had he voted his shares against and I and the other large shareholder who voted in favor of the board done the same, we could have unseated whoever we wanted. But the key votes in this case were from the large Canadian holder. 

While the future cannot be known with certainty, my best guess is there will not be any big need for removing the board in the future as the chances that cancer will be a success in phase I are high enough that the stock should reflect that by the time the next annual meeting comes around. As a result, we will all likely to be happy and in no mood to pick up our pitchforks and torches again. Hopefully, that is the way it turns out. Moreover, there could well be another share offering by then which would further dilute our interests (unless they obtain cash from partnership agreements). 

So, the bottom line is we did not have the votes to make board changes in 2021 and we will likely not have the votes in 2022 either. But, hopefully, we will be in too good a mood since the share price will have started to reflect both the cancer and NASH opportunities by then and will not be thinking about the board.  

Bucknelly21 wrote: no not they, we need to let them go. I'm not sure why now we need to let them go? We just had the chance like a month ago.

palinc2000 wrote: I think we would all have preferred a  well known US Pro but there is no doubt that the new Board Member is a PLUS .....I also agree that they need to let go the non productive memners even if they have been there for a long time

SPCEO1 wrote: He seems like a very capable Canadian capital markets pro. But I was hoping for very capable US markets pro. We were looking for someone with longstanding relationships in the US capital markets that could be leveraged to THTX's benefit. It is not apparent we got that. But kudos to Dawn for acting fast to fill the void.

Wino115 wrote:

Here's the result of our conversation.  This appears to have been done quite rapidly, which is good. But it also means they took someone they knew from their Board circle and likely didn't do an encompassing search. I applaud any new addition with market experience to help them and he seems to have some.  It seems a bit more focused north of the border, but beggars can't be choosers here.  We need help ASAP to keep building the audience.  I would point out that Dawn is on the Board of Xenon and that is clearly the way Holler was introduced into BOD.
 

If she knows what they need, and I think she does from that conversation, she should also know if he can provide that having watched him as CEO or at least known what he did as CEO at Cenon if they didn't overlap.  Hopefully she got both sides of that equation right. I am hopeful he adds a lot of value in the areas that need to be beefed up to help management execute.

 

MONTREAL, June 23, 2021 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (Theratechnologies) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced the appointment of Mr. Frank Holler as a new independent member to its Board of Directors.

“The appointment of Frank Holler adds important expertise and capabilities to the Board. Frank brings extensive knowledge and experience in the North American capital markets and has a well-recognized track record in the biotech industry having been involved in the establishment and growth of four of Canada’s most successful biopharmaceutical companies,” said Ms. Dawn Svoronos, Chair of the Board, Theratechnologies Inc.

“On behalf of the Board of Directors at Theratechnologies, it is my pleasure to welcome Frank. He arrives at a crucial time in Theratechnologies’ history as the Company continues to grow its commercial business globally and advance its exciting pipeline, namely moving forward its lead Peptide-Drug Conjugate, TH1902, through a Phase 1 clinical trial for the potential treatment of solid tumors expressing the sortilin receptor and advancing the development program for tesamorelin in Nonalcoholic Steatohepatitis (NASH) in the general population. Frank’s in-depth experience at growing shareholder value and strong knowledge of the challenges and opportunities in the biotech industry will be great assets for the Board,” added Ms. Svoronos.

About Frank Holler
Frank A. Holler is currently President & CEO of Ponderosa Capital Inc. He previously served as Chairman & CEO of BC Advantage Funds (VCC) Ltd., a venture capital firm investing in emerging technology companies in British Columbia.

He also served as President and CEO of Xenon Pharmaceuticals Inc. from 1999 to 2003 after having been President and CEO of ID Biomedical Corporation from 1991 to 1998. In addition, he was a founding director of Angiotech Pharmaceuticals.

Prior to working in biotechnology and healthcare, Mr. Holler was a Vice-President of Investment Banking with Merrill Lynch Canada and Wood Gundy Inc. (now CIBC World Markets).

Mr. Holler holds an MBA and BA (Economics) from the University of British Columbia.

 

 

no not they, we need to let them go. I'm not sure why now we need to let them go? We just had the chance like a month ago.
 

Let's hope so... it's always the next annual meeting, or next cc or next quarter, or end of summer ect. Seems to never materialize