UPDATE 1-Theratechnologies posts Q3 loss on higher expenses

* Q3 loss/shr C$0.05 vs EPS C$0.10 last yr

* Q3 rev C$2.15 mln vs C$13.1 mln

Oct 12 (BestGrowthStock) – Canadian biotechnology company
Theratechnologies Inc (TH.TO: ) posted a fourth consecutive
quarterly loss, hurt partly by higher expenses.

For the June-August quarter, the company posted a loss of
C$3.3 million, or 5 Canadian cents a share, compared with
earnings of C$5.8 million, or 10 Canadian cents a share, a year
ago.

In the third quarter, the Montreal-based company’s revenue
fell to C$2.15 million, from C$13.1 million a year ago.

Theratechnologies had in the previous quarter received a
milestone payment of C$10.9 million for Tesamorelin.

Tesamorelin is a treatment for HIV-related lipodystrophy,
the build-up of excess abdominal fat thought to be caused by a
patient’s HIV antiretroviral drug regimen and the virus itself.
There is currently no approved treatment.

General and administrative expenses jumped 66 percent to
C$2.2 million.

The company, which said U.S. regulators had extended their
review of Tesamorelin in July, said the burn rate from
operating activities, excluding changes in operating assets and
liabilities, was C$2.6 million for the quarter, compared with a
cash flow of C$6.2 million in the same period last year.

The company’s shares, which have fallen about 10 percent
after the extension of the review on Tesamorelin, closed at
C$4.53 Tuesday on the Toronto Stock Exchange.
(Reporting by Aftab Ahmed in Bangalore; Editing by
Unnikrishnan Nair)
([email protected]; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging:
[email protected]))

UPDATE 1-Theratechnologies posts Q3 loss on higher expenses