Theratechnologies released their financial results for the first quarter of 2017.
Theratechnologies (TSX:TH) released their financial results for the first quarter of 2017.
As quoted in the press release:
First quarter 2017 financial highlights
- Net sales of $9,034,000
- Net loss of $2,243,000
- Adjusted EBITDA of $725,0001
- Liquidities of $29,602,000
“EGRIFTA® continues to provide us with the stability and cash flow that we need to move forward with our plans. It gives us the means to build a stronger future as we prepare for the potential launch of ibalizumab in the United States. In this regard, the recently announced major expansion of our U.S. sales organization is well underway”, said Luc Tanguay, President and CEO, Theratechnologies Inc.
“In addition, shortly after the end of our first quarter, we announced that we have acquired the commercial rights to ibalizumab in Europe. This represents a significant opportunity for Theratechnologies in terms of future growth and shareholder value. Finally, in the United States, TaiMed Biologics is weeks away from completing the filing of the Biologics License Application for ibalizumab with the FDA. In a few words, we are making good progress towards achieving all of our business plan objectives” concluded Mr. Tanguay.
First Quarter Financial Results
The financial results presented in this press release are taken from the Company’s Management’s Discussion and Analysis, or MD&A, and unaudited consolidated financial statements for the period ended February 28, 2017, which have been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or IASB. The MD&A for the first quarter ended February 28, 2017 and the unaudited consolidated financial statements can be found at www.theratech.com and www.sedar.com. Unless specified otherwise, all amounts in this press release are in Canadian dollars and all capitalized terms have the meaning ascribed thereto in our MD&A. As used herein, EGRIFTA® refers to tesamorelin for the reduction of excess abdominal fat in HIV-infected patients with lipodystrophy. EGRIFTA® is our registered trademark.
Theratechnologies (TSX:TH) is a specialty pharmaceutical company addressing unmet medical needs to promote healthy living and an improved quality of life among HIV patients. Further information about Theratechnologies is available on the Company’s website at www.theratech.com and on SEDAR at www.sedar.com