Theratechnologies Inc T.TH

Message for Thtx

[Bucknelly21]

While I applaud the accomplishments made on the pipeline front here are issues from where I am sitting. First they are "shocked" at the low sp and lack of interest from market? Why because you have an open label trial where you have so many ways to update/let the market know how it's progressing without really giving an uncomfortable amount of information away. You don't need to tell anyone "we have cured cancer" but certainly can say more than what you have. Second if you have the attitude that you are above the average retail investor you aren't, you have burned multiple analysts, failed to correct bad forecasts and jumped on any money that is thrown your way at the expense of legacy shareholders and the atm looks to be setting it up again ( possibly). You  paid a bunch of money to assess the market for trogarzo and Brian Abrahams from Rbc picked up the phone and made a few calls and got the actual market forecast for trogarzo correct. Who is responsible for that? Three, no one has a clue what your Nash plan is, so cloudy and so unclear yet you say you are in a position of strength. Despite saying it went smoothly with both regulatory agencies while it clearly didn't. You have not been able to capture any part of this historic bull market because of you unwillingness to change your strategy in dealing with the markets. Told shareholders that change was coming on that front and the only thing you have done was hire Lsa to put on a fireside chat that was probably 90% existing shareholders. No retail engagement whatsoever even when pre clinical programs left and right get crazy evaluations with nothing but hopes in there program. If you would like I can pull up dozens. Did an awful offering where somehow made coverage worse. With analysts who don't even know you are months into a phase 1 cancer trial. Bigger payroll with a bunch of useless board members who don't buy shares and sit on options. That's just about in the last year or so. In summary the market doesn't believe or trust you and quite frankly I'm at that point as well. I'm stuck with my position at the point and I can easily accept that. But what's hard to accept is pretending you don't know why. Frankly I hope that the future is out of whoevers hands that makes the decisions about what to say and what not to and that the results are so good that your inability to create value for shareholders is out of your hands completely. Thats the only way this ends with everyone being happy because it's aparent that's it not Thtx's forte. Sorry if this is harsh and it's not meant to single any one person out but it's the truth. I've said my peace and I'm going to sit back and watch for a while 

good luck to all the people here who are much smarter than myself and have dedicated a lot of time and effort to teach the whys and how's to people like myself

[canadapiet]

Wow, man/woman?,  Every word is truth! You could have stated also the following: "First they are "shocked" at the low sp and lack of interest from market, but still don't BUY shares on the open market? Mr P L said the share price "is ridicuously low"..............!!! Also wish good luck for all the honest believers, they deserve it! Bucknelly21: Message for

[realitycheck4u]

This post has been removed in accordance with Community Policy

[Lee430]

What could possibly be preventing Thera from responsibly addressing the lack of retail investor engagement?

[SPCEO1]

My best guess on that is ego. They see themselves as a much more professional operation and bottom-fishing with retail investors is hard for them to deal with. They have managed to find some additional institutional interest but the market is being boosted in recent months largely by retail investors. Institutional investors also rely more on analysts who cover the stock, and even if they could

[scarlet1967]

All fair points I don't think they walk back the market size estimates due to legal consequences but yes the capital market engagement and communication strategies have been less than optimal putting it mildly. The market ascribe value to companies based on facts, perceptions of the future prospects and speculations among others. The facts are the facts nothing they can do about it, better

[qwerty22]

 

[qwerty22]

  * Paul seems to be planning for success, that's a good thing.

[Wino115]

One thing I can add from my perspective as a PM over decades is that THTX now and through most of the last 2 years has not really had a solid investment thesis you can even pitch to someone. There has to be a convincing and solid fundamental thesis you can hang your hat on as an analyst, PM or retail investors. It's frankly been really hard to do that since the last 2 years has been a tug-of

[scarlet1967]

The problem is many companies have managed to sell that hope to the market but THTX hasn't so far. There are preclinical companies worth more than multiples compared to the company based on projections of success or hope to succeed. To me they need to fix it ASAP otherwise there will be the next milestone and the next after that etc. The ego Speco was referring to might be the problem but Paul

[PinnacleX]

You mean they never had any thesis period.  Where would this company be if they didnt buy this cancer company, over a year ago? They dont have money for NASH, so this has to be a success for them to proceed. Im curious to hear what youd have to say.  

[Wino115]

If they didn't use their commercial drug revenues to buy Katana the stock would be half what it is today. If they didn't develop F8, pen, Egrifta IP around liver, it would also be half. That's my answer,  but thankfully Tanguay Understood they needed to reinvest and take some risk to get a chance at new revenue streams.  In hindsight, I think they realized the HIV landscape

[scarlet1967]

  There are also dozens of preclinical programs with sub-$100 mil valuations that are flying under the radar, probably a longer list than your list. Why do you referring to underperforming companies?Do you believe a business has to choose the way they run it based on losers in the space or learn from the winners?

[scarlet1967]

Once you have learned everything you can from the successful companies in the space then you use your creative mind exploring new strategies to make the business more lucrative so it is a learning never ending process/progress. Sticking to failing strategies/old fashioned approaches aren't the road to success.

[qwerty22]

You need to define successful. If successful is just maintaining a higher market cap then we part ways. Everything they are doing around messaging the cancer program looks exactly how I would expect it to look given what other serious biotech do. That's the problem I have with you and Bucks. I don't know exactly what you want. You want them to put out a PR tomorrow saying we enrolled X

[scarlet1967]

The power of "fluff" unfortunately is working having said that updates re the trial's progress for instance  new sites starting dosing isn't harmful at all, investors need to be kept informed and excited as I would be reacting to such a news so I know the trial is still ongoing and been progressing to a new site. As per there is a norm how and when they or others could

[qwerty22]

The one thing you list, site updates, they did tell us that. They told us a few other things, the best in my book was Christian telling us twice that each dose increase took 4 weeks. I think those occasional updates when they are having some type of event are normal and fine. Anything more than that doesn't make sense. It seems to me we are getting what you want and it's not particularly

[scarlet1967]

They never told investors when both MD Anderson and Karmanos start enrolling patients, the interview with Dr. Shah describing their PDC as small missiles attacking cancer cells is on Gettysburg’s website but not on THTX’s. The list below is few companies which frequently attend high profile conferences and update their investors re enrollment been finished, patients been dosed, updates on results

[qwerty22]

  Thtx have 5 PRs in 2021 announcing attendance at investor conferences/events. They did posters in at least two scientific conferences and they did their own KOL event. They put out 30 PRs I don't see 89bio doing much more than that. 89bio have put out half the number of PRs this year than thtx and attended 7 investor conferences. ADC therapeutics has 7 active clinical trial

[qwerty22]

Not to mention all of them are in negative territory this year except bycy.

[qwerty22]

I see they burnt bridges with analyst and seriously damaged their investor base. They got themselves into a hole. I see 2021 as a genuine attempt to get out of that. They aren't doing the things you want them to do. But I believe your excessive focus on messaging is the wrong diagnosis. As Wino said they have to build thtx as an investable thing first. That is what is happening in 2021. The

[SPCEO1]

The need to build both the business and the messaging. And I think they have made decent progress on both and yet still the stock price has not been rewarded by the market for that. Which is odd given the backdrop of a huge bull market, but perhaps not so strange given the sizable credibility hole they are in following huge overestimations of both the Egrifta and Trogarzo market sizes and the OO

[Wino115]

Sums it up pretty good. It is unfortunate that after the last earnings report there was an open window to buy shares and only the "forced" buying of a new board member and some other tiny bits showed up. If they want to send a signal, which they should given the importance and value, buying big in the next window would be important. There's really no justification and it's done

[qwerty22]

On NASH. It's probably worth thinking about the markets feeling on NASH atm and Pharma. The market definitely sees more risk and NASH-only biotechs are suffering, I'm not sure it's so negative with Pharma. Not much new activity recently but 2020 there were still deals being done and there was some shift to shuffling the assets they have in various combo trials. So maybe looking to

[scarlet1967]

For instance LSA emailed folks on their list while ago and today the below, now why no PR from company or posts re the event on the social media platforms? freaking frustrating  https://www.linkedin.com/posts/lifesci-advisors_please-join-us-on-monday-september-13th-activity-6838833018837241856-mAYo

[SPCEO1]

Does anyone know a reason why they would schedule this event at Noon? I can't see an advantage to having it then, but perhaps I am missing something.

[Bucknelly21]

so they can make sure everyone is at lunch and no one is paying attention... haha

[qwerty22]

One guy on the West Coast, One guy in UK???

[ANALIAS00]

Normally those windows are available to less interesting subjet. It is like products on a shelf in a store, the space right in front of your eyes will sell more so cie will pay more to get that perfect spot. So either THTX was not willing to pay the price for a better spot or the organizers do not beleive THTX presentation is interesting enought compare to other cie's presentation. At noon

[SPCEO1]

The KOL for NASH is not part of a conference. I think Qwerty is most likely correct - you can capture the most  time zones with a Noon eastern start.

[SPCEO1]

While a step back to a 2b would likely make sense if they cannot convince partners or investors of the value of what they have, it would still be another hit to their credibility, perhaps unfairly so. I would not fault them for taking the gambit on a phase III trial and getting regulatory approval for that aggressive approach. But the market would likely not be as kind in its evaluation of that

[Wino115]

Never underestimate the ability of large and even mid-pharma to roll the dice and pay dearly to have a chance at huge success.  I've seen many deals that look unbelievably high risk and long-term, some are real dice-rolls.  This one looks fairly sane compared to some.  I realize different time frames influence deals.  I guess on the positive side we have huge cash-flow

[scarlet1967]

That's both imo. They want to build the business as an investable company they need to execute and make sure those achievements are recognized by the market. Simple math if they issue 100 PRs per year read by 900 followers the net effect is less than 50 PRs read by 30k followers. Point is they need to build that audience as they are/have been building their investable business. Now as they

[scarlet1967]

How many people read those PRs or listen to their events?I am not bitter but frustrated. Again they need to build up audience now so potential good news get the stock moving. You and few others want the science to do the job I want the science backed but decent exposure to move the valuation fairly. As per biotech being under pressure since "March" to me is shortsighted comparison I look