Theratechnologies Achieves Record Performance in Fiscal 2024

Financial Overview of Theratechnologies for Fiscal Year 2024

Theratechnologies Inc. (TSX: TH) (NASDAQ: THTX), a leader in specialty biopharmaceuticals, recently shared remarkable financial results for the fiscal year 2024. The company not only surpassed its expectations with a positive adjusted EBITDA of $20 million but also reported annual revenues reaching $85.9 million. These successes underscore Theratechnologies' commitment to innovation in healthcare, particularly in the treatment of HIV.

Key Financial Highlights

A prominent highlight from the financial statement was the record quarterly revenue of $25 million, marking a significant increase from $23.5 million compared to the previous year. The revenue diversity came from key products, especially EGRIFTA SV, which saw a growth of 12% in net sales, totaling $60.1 million for the fiscal year.

The fourth quarter concluded with strong performance indicators. Paul Lévesque, the President and CEO, reflected on this achievement, noting that the positive adjusted EBITDA of $7.8 million for the quarter was a robust leap of 56% compared to the same quarter last year.

Recent Developments Driving Growth

New Product Partnerships

In line with its strategic goals, Theratechnologies has in-licensed two new assets developed by Ionis Pharmaceuticals. These assets, olezarsen and donidalorsen, are poised to enhance long-term growth, particularly in Canada where they will be evaluated for rare diseases. These partnerships reflect the company’s proactive approach to expanding its product pipeline.

Financial Bolstering through Credit Facilities

Securing $75 million in new credit facilities with TD Bank and Investissement Québec has significantly improved the company’s liquidity position. This financial backing enables Theratechnologies to focus on its long-term growth strategy and scale its commercial business more efficiently.

Addressing Supply Challenges

Despite facing a temporary supply disruption with EGRIFTA SV due to a manufacturing issue, the company successfully resumed production in November 2024. With FDA approval to sell newly manufactured batches, Theratechnologies is well-positioned to continue meeting market demand and revenue expectations.

Outlook for the Future

Looking ahead, Theratechnologies remains committed to its mission of redefining care standards through innovative treatments. By continuously enhancing its HIV portfolio and expanding into new therapeutic areas, the company aims to solidify its market position while addressing unmet medical needs. The anticipated introduction of the F8 formulation of tesamorelin is one such strategic initiative that could significantly impact future revenue.

Frequently Asked Questions

What are the financial highlights of Theratechnologies for FY 2024?

For fiscal year 2024, Theratechnologies reported a positive adjusted EBITDA of $20 million and annual revenue of $85.9 million, reflecting significant year-over-year growth.

What products contributed to Theratechnologies' revenue?

Key products such as EGRIFTA SV and Trogarzo significantly contributed to revenue, with EGRIFTA SV achieving an annual sales total of $60.1 million.

What strategic partnerships has Theratechnologies formed recently?

Theratechnologies has in-licensed two new investigational assets from Ionis Pharmaceuticals which target familial chylomicronemia syndrome and hereditary angioedema, broadening its product pipeline.

How is Theratechnologies managing recent supply chain disruptions?

The company has resumed production of EGRIFTA SV following FDA approval to sell new manufactured batches, aiming to mitigate previous supply disruptions effectively.

What financial strategies has Theratechnologies implemented recently?

Theratechnologies secured $75 million in new credit facilities, enhancing its liquidity and supporting its long-term growth initiatives while addressing its operational needs efficiently.

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