Theratechnologies Inc T.TH

Terns Pharmaceuticals vs Theratechnologies

[scarlet1967]

This company based in the US went public recently, they don’t have any commercialized drug and seems to be targeting only NASH with their drugs, they are a Phase2 NASH company with some phase1 and preclinical NASH programs. They managed to upsized the initial public offering with the help of big guys in the US. They also have a section in their website (which is better than THTX’s website) re partnership.
They are currently valued at US $417 million, a phase 2 NASH Company with no income, no Oncology programs is valued almost %75 higher than THTX?
 
 
 
“More content below
Terns Pharmaceuticals, Inc.
Thu, February 4, 2021, 6:54 PM
 
 
More content below
 
TERN
+8.18%
FOSTER CITY, Calif., Feb. 04, 2021 (GLOBE NEWSWIRE) -- Terns Pharmaceuticals, Inc. (“Terns” or the “Company”) (Nasdaq: TERN), a clinical-stage biopharmaceutical company developing a portfolio of small-molecule single-agent and combination therapy candidates for the treatment of non-alcoholic steatohepatitis, or NASH, and other chronic liver diseases, today announced the pricing of its upsized initial public offering of 7,500,000 shares of common stock at a public offering price of $17.00 per share, for gross proceeds of $127.5 million, before the underwriting discounts and commissions. All of the shares of common stock are being offered by Terns. The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 1,125,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Terns’ common stock has been approved for listing on the Nasdaq Global Select Market and is expected to begin trading under the ticker symbol “TERN” on February 5, 2021. The offering is expected to close on February 9, 2021, subject to customary closing conditions.
 
J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book-running managers for the offering.
 
 “PARTNERSHIPS
Terns is committed to expanding its transformative approach to providing patients with access to novel medicines worldwide.
We are interested in collaborators who share our vision and goals, and whose capabilities complement our best-in-class drug discovery and development team.”
 
https://www.ternspharma.com/our-programs

[SPCEO1]

There are plenty of similiar examples. It is almost beyond comprehension that TH's stock price was not higher prior to the deal, given the opportunity set they have and the backgrgound of an enormous bull market, and that the terms of the deal aas well as who they did the deal with could not have been much better. If the clinical programs in NASH and cancer turn out to be winners, these

[scarlet1967]

Maybe the company should move their headquarter to the US!

[Wino115]

There is another explanation that makes perfect sense. One reason you raise money at a less than advantageous price and time is that your expenses are increasing now and you are budgeting for further increases. You are forced to rush the best deal you can get at that time and cannot wait for a better time. We will know where that stands soon enough but I have noticed they have hired more senior

[scarlet1967]

"On the contrary, they are as surprised as us that all the facts they've put out there haven't created a positive momentum or view of their drugs and trials," I believe rather than be surprised and staying surprised they need to look for the reason/reasons as none of the positive announcements didn't have lasting positive effects on the valuation. Their story is far better

[scarlet1967]

I don't get that sense either so I agree their positive perception of company's prospects hasn't changed the issue is that positive perception hasn't translated to a positive perception by the market, we have seen time after time when the SP rises shareholders see it as an opportunity to sell rather than seeing an opportunity to buy an undervalued company with great prospects so

[palinc2000]

Dont forget that there will be another 9% dilution around January 9 2024 which is the date of expiry of the Warrants,,,,,,Over 8 million shares will be issued at 3.18 US...I I cant think of a single reason why they were not able to have the warrants expire in 2023  ahead of the due date for the repayment of the Convert,,,,,,Everytime I revisit this deal it looks more and more like one of the

[palinc2000]

Of course there is still a  possibility that some or all the warrants will be exercised before 2024 in time for the repayment of the Convert but warrant holders are the ones who will decide at their sole discretion

[ANALIAS00]

Stupid question/hypothesis ? Can this deal would have killed a potential and weak anyhow possible hostile takeover attempt ? I know some will say "just go on" but good or bad deal I will still be interested to hear from the cie their explanation to understand their position they were in. Since I trust they are smart people this will just have the positiv effect of regaining my and others

[scarlet1967]

I did say many times before the deal an offering too soon at a low price is absolutely wrong but I am trying to move on as it is done and can't be undone. that was my opinion and everyone is entitled to have their opinion. Going forward I believe the best outcome for investors is a total change of the way this business is conducted which I will do my very best to convince Leah how important a

[palinc2000]

I feel the same except when the subject comes up in this MB as it did today,,,,,Cant be undone but hard to forget 

[palinc2000]

I think TH still has a Shareders  Right Plan in place which would make a hostile take  over much harder......