Theratechnologies Inc T.TH

The prescriber base has doubled for Trogarzo

[palinc2000]

Did I hear that correctly?

[Bucknelly21]

I heard that too palinic

[palinc2000]

But unit sales are down?? What gives?

[SPCEO1]

My best guess on Q1 sales is they were likely biased lower because the company forced sales to the distributor system at the end of Q4 so they could have a good Q4 sales number to support the offering with the pre-announcement of good Q4 sales. Also, we are going to have to figure out where all the cash went. It looks like they burned through around $10 million in cash in a $15 million sales

[scarlet1967]

At the end of fourth quarter they had $20,768,000 in cash, the net proceeds of the offering after fees was$42,668,000, in total they had $63,436,000 after the offering they have $56,716,000 in the bank. It looks like the cash burn was higher in the Q3/Q4 2020 than last quarter.

[jeffm34]

With around $50M coming due in 2 years and substantially increased cash costs by Q32021 for NASH and oncology clinical trials TH has a cash problem again.  They have no option but to license out the programs or sell the farm once again with another ridiculous financing with their friends. 

[FredTheVoice]

JEFF this is just short term frustrations view that you are spreading on this board..... Lets just wait, and I am pretty sure a lot here are ready to say that in two years, with oncology and NASH on the roll, with some results out, TH will see no problem with that 50M your are talking about (convertable...). You really think TH shares wont be worth more than 15$C a share next year ? If so, its

[jeffm34]

In the next couple of years the company will be negotiating much larger financings and potentially billion dollar licensing agreements. Given Thera's track record do you believe they have the proper management in place to execute those agreements and get the best possible terms for shareholders?  

[FredTheVoice]

Yes, as the stock at the present moment, regaining the loss.... Thera as hired to do the job you are describing..... FTV.

[SPCEO1]

Since you said "given Thera's track record", you have to conclude the answer is no. But based on my personnel knowledge of the people involved, I would think they were plenty capable. It is a conundrum.  

[Wino115]

They may ask their new pals to exercise their warrants prior to expiry, so maybe they get another $10mil in or so.   There basic math for these ongoing quarters is roughly as follows: Revenues $16mil COGS        - $5mil                    $11mil     ===  so left with $11 mil gross profit to fund biz

[palinc2000]

From the transcripts . Over the last 12 months, the prescriber base for both Trogarzo and EGRIFTA SV has more than doubled which I believe an indication that we are well-positioned for commercial growth, particularly as we emerged from the pandemic.

[SPCEO1]

It was a fun fact to report but apparently it has no actual meaning since sales certainly did not more than double too. It is not hard to have a negative take on that piece of info - prescribers more than doubled but sales went nowhere so, that suggests the older prescribers were prescribing quite a bit less. 

[qwerty22]

Doubled from when to when? We know at one point Egrifta sales dropped off a cliff during the switch from f4 to SV, if he's cherry-picked that moment as the start point then shame on him. I don't see how actual sales support a prescription doubling.

[qwerty22]

I heard subscriber, and wondered what the hell that meant. (But I'm a bit deaf)  

[FredTheVoice]

A part of the explanation in the PR: "In the first quarter of fiscal 2021, Trogarzo ® net sales amounted to $6,742,000 compared to $7,204,000 for the same quarter of 2020, representing a decrease of 6.4%.   Lower sales of Trogarzo ® were a result of a decrease in unit sales, and higher rebates, which were offset by a higher selling price" FTV.