Theratechnologies Inc Stock Price, News & Analysis

Theratechnologies (NASDAQ: THTX) presented two significant studies at ACTHIV 2025 focusing on excess visceral abdominal fat (EVAF) in HIV patients. The VAMOS study revealed that 58% of participants had EVAF, which was strongly correlated with reduced muscle quality in aging HIV patients. The analysis showed EVAF had a stronger negative impact on muscle quality compared to subcutaneous fat or BMI. In a separate case series study, the combination of tesamorelin and GLP-1 receptor agonists showed promising results, with patients achieving mean reductions in weight (-13 pounds), BMI (-2.2 kg/m2), and waist circumference (-3.4 inches). Six out of seven patients reached their metabolic and body composition goals, marking the first report of successful dual use of these agents in HIV patients.

Theratechnologies (TSX: TH) (NASDAQ: THTX) has announced its Board of Directors' decision to evaluate a potential company sale through an open and non-exclusive process, following a proposal from Future Pak. The Special Committee, comprising independent and disinterested directors, will oversee the process and provide recommendations to the Board.

The company has expanded its advisory team, adding Raymond James as independent financial advisor and Norton Rose Fulbright as independent legal advisor, alongside existing advisors Barclays and Fasken. Theratechnologies emphasizes that normal operations will continue during these discussions, though there is no guarantee that talks with Future Pak or other parties will result in a transaction.

Soleus Capital, a major shareholder owning over 10% of Theratechnologies (NASDAQ: THTX), has sent a critical letter to the company's Board of Directors regarding a potential acquisition offer. The letter addresses Future Pak, 's proposal to acquire the company at $3.51 per share, representing a substantial 163% premium over the April 10th closing price.

Soleus Capital expressed concerns that THTX's management and Board have been unresponsive to potential acquirers, potentially breaching their shareholder obligations. The investment firm strongly advocates for accepting the all-cash offer, arguing it would provide greater shareholder value compared to remaining independent or pursuing alternative combinations that might prioritize management retention over shareholder interests.

Theratechnologies (NASDAQ: THTX) has responded to Future Pak's acquisition proposals and disclosed exclusive discussions with another potential acquiror. The company received two unsolicited non-binding proposals from Future Pak: first in August 2024 with a US$100 million closing cash consideration, which was rejected, and second in January 2025, which couldn't be entertained due to existing exclusivity agreements.

The company is currently in negotiations with a different Potential Acquiror who has completed extensive due diligence. If a definitive agreement is reached, it will include a 'go shop' provision allowing Theratechnologies to engage with other potential acquirors, including Future Pak, for a period.

A special committee of independent directors, supported by Barclays Capital as financial advisor and Fasken Martineau DuMoulin as legal advisor, has been formed to review the proposals.

Future Pak has submitted two formal proposals to acquire Theratechnologies (NASDAQ: THTX), with the latest offering $3.51 to $4.50 per share. The proposal values the deal at up to $255 million, consisting of:

• $205 million in cash at closing
• Up to $50 million in contingent value rights (CVR), including 50% of annual EGRIFTA® franchise gross profit above $30 million for three years
• A $10 million milestone payment if EGRIFTA gross profit exceeds $125 million over three years

The offer represents a 164% to 238% premium over Theratechnologies' closing price of $1.33 as of April 10, 2025. Despite the significant premium and multiple proposals, Future Pak reports minimal engagement from Theratechnologies. The transaction has no financing contingency and is supported by Colbeck Capital Management.

Theratechnologies (NASDAQ: THTX) reported strong Q1 2025 financial results with total revenue of $19 million, representing 17.2% growth year-over-year. The company achieved a net profit of $117,000 and positive adjusted EBITDA of $2.3 million.

Key highlights include:

• FDA approval of EGRIFTA WR™ for treating excess visceral abdominal fat in HIV patients
• EGRIFTA SV® sales increased 44.8% to $13.9 million
• Trogarzo® sales decreased 22.4% to $5.2 million
• Resolution of temporary supply disruption for EGRIFTA SV®

The company updated its FY2025 guidance, projecting revenue between $80-83 million and adjusted EBITDA of $10-12 million, accounting for a one-time impact of $10-12 million revenue loss due to the EGRIFTA SV® supply disruption.

Theratechnologies (NASDAQ: THTX) has received FDA approval for its Prior Approval Supplement (PAS) to the supplemental biologics license application (sBLA) for EGRIFTA SV®. This approval enables unrestricted distribution of EGRIFTA SV®, eliminating previous discretionary product release requirements.

EGRIFTA SV® is currently the only FDA-approved treatment for reducing excess abdominal fat in adults with HIV and lipodystrophy. The FDA has also recently approved a new F8 formulation, EGRIFTA WR™, which will replace EGRIFTA SV® and offers improved patient convenience.

The medication works as a growth hormone-releasing factor (GHRF) analog, stimulating the production and release of endogenous growth hormone. Common side effects include arthralgia, injection site reactions, pain in extremity, peripheral edema, and myalgia.

Theratechnologies (NASDAQ: THTX) has scheduled its first quarter 2025 financial results announcement and business update for April 9, 2025, at 8:30 a.m. ET. The conference call will feature key executives including CEO Paul Lévesque, CFO Philippe Dubuc, Chief Medical Officer Christian Marsolais, and Global Commercial Officer John Leasure.

The management team will present the Q1 2025 results for the period ended February 28 and will be available for a Q&A session following their prepared remarks. The presentation will be accessible via webcast and telephone conference, with replay available until April 16, 2025.

Theratechnologies (NASDAQ: THTX) has received FDA approval for EGRIFTA WR™, an improved formulation of tesamorelin for treating excess visceral abdominal fat in adults with HIV and lipodystrophy. The new formulation requires weekly reconstitution instead of daily, with less than half the administration volume compared to the current EGRIFTA SV® version.

EGRIFTA WR™ will be supplied as four single-patient-use vials, each containing 11.6 mg of tesamorelin, sufficient for seven doses. The daily dose is 1.28 mg injected subcutaneously and can be stored at room temperature. The product is patent protected in the U.S. until 2033 and will be manufactured at a new U.S.-based contract drug manufacturing organization.

Common adverse reactions include arthralgia, injection site reactions, pain in extremity, peripheral edema, and myalgia. The new formulation has shown bioequivalence to the original F1 formulation of tesamorelin.