Theratechnologies Inc T.TH

Alternate Symbol(s): THTX

Healthcare Biotechnology

Theratechnologies Inc. is a Canada-based clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapies addressing unmet medical needs. It markets prescription products for people with human immunodeficiency viruses (HIV) in the United States. The Company's research pipeline focuses on specialized therapies addressing unmet medical needs in HIV, nonalcoholic steatohepatitis (NASH) and oncology. Its medicines include Trogarzo and EGRIFTA SV (tesamorelin for injection). Trogarzo (ibalizumab-uiyk) injection is a long-acting monoclonal antibody which binds to domain 2 of the CD4 T cell receptors. It blocks viral entry into host cells while preserving normal immunologic function. The Company is also investigating an intramuscular method of administration of Trogarzo. EGRIFTA SV (tesamorelin for injection) is approved in the United States for the reduction of excess abdominal fat in people with HIV who have lipodystrophy.

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Theratechnologies Inc > Weekly Report Card

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Comment by qwerty22on Aug 15, 2021 12:04pm

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Post# 33707340

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Weekly Report Card

You think they now have their eye on the stock? If things go well the seems to be the potential they dig deeper.

SPCEO1 wrote: Institutions have power in these deals and use it to gain attractive terms that they can quickly take advantage of. Some are long term investors and some are just in it to exploit the trade. Companies always tell you they were able to influence the book to get more long term investors in and keep the hedge funds out of it, but some of any attrractively priced deal always ends up in the hands of what are essentially traders rather than investors.

In this case, they did not sell it immediately and held it at least one quarter. So, I suspect they did do some due diligence but they also likely thought their quick profit on it was something they anted to lock in and they could play the potential success if cancer via the warrants which would not impact their performance negatively but could impact it positively if they converted them and sold or even if they converted them and held on for the longer term at that point. The warrants are a one way trade for them - it can only help and can't hurt their performance. So that is pretty attractive.

qwerty22 wrote:
So you think they did no/little DD on the business, the cancer program etc? It's purely a technical trade?

SPCEO1 wrote: If I were still a portfolio manager at Templeton, I would have likely done exactly what they did. Buy the stock in the offering, let the stock run higher, sell the stock and play the long term via the warrants which will have no impact on the performance of the portfolio since they have no price and don't trade. In fact, a few years ago, I did the same thing with the GALT share offering that had untradable warrants attached. So, the OO/NO was priced in such a way as to make it very easy for institutions to do well by participatingin both the short term and potentially the long term if the warrants work out and they are already well in the money. I am surprised we have not seen more selling from the other institutions in the deal. The fact that we have not seen such selling is a good sign which indicates they actually thoroughly researched the situation and believe the story.

palinc2000 wrote:
If they participated in the offering then presumably they would still hold the warrants unless they were exercised and sold the acquired shares at the same time....

SPCEO1 wrote: Bloomberg has a feature that allows you to look at the history of a firm's holdings and it shows that Arrowstreet picked up their position in the first quarter, so I think you can safely assume they participated in the offering.

Wino115 wrote: Arrowstreet wasn't one of the 4 lead new investors mentioned to us. They were Soleus, Armistice, AIGH and Stonepine. Arrowstreet is a massive global equity firm with over $150bil. Great reputation. They research companies in depth and apply quantitative tools to build portfolios.

they have global small cap, the likely owner of THTX shares. Still could have bought in deal as a very tiny holding. They are generally pretty long term. Hopefully they come back in once it's big enough for them to actually trade in it and establish a big position. Good name to remember for the ATM at higher prices.