Theratechnologies Inc T.TH

Canaccord Conference

[SPCEO1]

I am struck by the fact they got a good time on the schedule at this conference (1PM). Naturally, it may mean nothing at all but if TH wanted to share some good news, and communicated that to Canaccord, that may have led to them getting a better time slot. So if the chances of hearing something good at the conference were 50/50 before, maybe they are 55/45 now. 

Still, it seems too early for TH to say anything definitively positive about the phase 1b. They may make qualitative comments that are positive but I cannot say I am expecting a press release with news they have filed a protocol amendment on some type of cancer to go to 25 patients yet. 

Of course, since no one but us is paying attention to the stock, what they really need is for Canaccord to encourage some of their clients to make sure they are listening in on this call. If one or two can be convinced to become buyers, it will be a very big deal. But when any sizable investor, institutional or retail, takes a look at the trading volume recently, that would likely be the end of the conversation. Actually, no, they would then start the conversation of being a participant in the next equity offering and effectively underwriting it, much like Soleus did with the ONO. At least TH has the convert squared away and will have a better negotiatiing position than they would have had they not got that facility in place if they do pursue a new financing. And if they do have good news from the pahse 1b, then they will need more money to pursue further trials. Indeed, this may be what TH has already communicated to Canaccord (that the liklihood they will need more money to pursue a pahse II trial is rising) and what got them a good time slot. 

While there remain financing issues to be resolved if TH has good cancer news from phase 1b, that is a high class problem and the outcome should be nowhere near as nasty as it was with the ONO. Good cancer results will lead to a higher shre price and the prospect of an offering will likely lead to at least Canaccord starting to push the stock again. 

You likely saw the news stories about bringing dead pig organs back to life with new chemicals. maybe our dead little stock will find a way to get an injection of those chemicals and set it on a new and better path. Good news on cancer is key.

[Wino115]

I will be interested to see if it's Ed Nash or the Canaccord oncology analyst at the chat. They need actual oncology analysts to frame the science merits, investment analogies and thesis.   They've also already paid Cantor for the ATM so they should use that for the first cash need on good news.   

[SPCEO1]

Can you immagine what they might do to the stock price though is they used the ATM with volume at these levels. Unless it is a pre-arranged trade between an investor looking to acquire the stock and TH, any attempt to use the ATM is not viable at the moment. And I am not sure it is legal for them to do a pre-arranged trade.

[Wino115]

Agree, it's only useful on solid milestone results.  Otherwise, no way cannthe6 sell into this.