THTX - Earnings call transcript Q4 2021

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Operator

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Theratechnologies Fourth Quarter and Annual Fiscal Year 2021 Earnings Call. [Operator Instructions] I would now like to remind everyone this conference is being recorded today, Thursday February 24, 2022 at 8:30 a.m. Eastern Time. I will now like to turn the conference over to John Mullaly, LifeSci Advisors. Mr. ahead. go please Mullaly,

John Mullaly

on welcome. Theratechnologies; Levesque, Senior and Financial the and and Executive Vice and Officer Chief speakers be will of Mr. Officer, call. Mr. you, President Paul Chief President today's Thank Philippe Dubuc,

and asked intentions, or today Before read achievements In Theratechnologies about contain statements. would forward-looking the I've the everyone goals results, remind that other future statements, levels assumptions those current developments. performance, forward-looking to of obtained by like regarding company statements risks or events by to or materially Paul from there statements. future message preparing several by that remarks, activity, and begins differ results actually are I forward-looking his these plans, will been Theratechnologies, were expectations following Theratechnologies' made its and remarks

the As cannot and information place refers this will and available the investors any materialize, not forward-looking morning analysis reliance to you that on current on www.sedar.com statement Sedar guarantee to management are on www.sec.gov. discussion them. of Theratechnologies its at cautioned potential undue a and EDGAR at issued consequence, and section company forward-looking

Forward-looking February except may Theratechnologies a I to now result XX, over Paul. required future or as expectations information, as events, update law, statements like any otherwise. conference does would by statement XXXX, securities obligation undertake whether the as Theratechnologies' be not to to represent forward-looking of any of turn new

Paul Levesque

XXXX full This are key and The We an for progress THXXXX; in our support Thanks, year teams; our that lead progress wish program. and include express focus the taking in versus the updates our our to made good commercial achievements Theratechnologies' asset in attention part we half for NASH second today to John to our welcome Year. your the sales own has which commercial warm of updates, particularly four the to incredible medical I New you our oncology our out results, on a drivers and propelling been performance in build major morning year drivers franchises. in of milestone today. success journey. the the half; our want joining the of and of first addition everyone believe thanks call in

we Moreover, possess I about come. full fiscal we and close As company momentum development, to strengthening internal we already near the sales assets. the are stands commercial force. both QX in quarters mature early late the of biotech, global What Theratechnologies also an drug our am draw now franchises through we're stage announced how successful just for of this four us launch of is with we mentioning years differentiated early strong addition the brands stage of to since recently to we in as progress. pipeline and most the of out our new commercial strategy have our carry a year, a capabilities our of grow with to an being

and the of stage we reached we're mass employment present, create contract healthcare a force. superior be addition performance to our sales providers, believe the in are therapeutic provider faster in fully affairs current lead order partner knowledge new in invested our also company strengthening our our the this in This hiring team. representatives who medical patient will sales field better organization. across push sales be patient joining force, up from the experienced to truly will ultimately of of kick-starting our the growth are field new we will parallel our initiative. expansion portfolio. In forward expect this top finalizing to has disease business initiatives to will commercial and landscape. ramp We of and awareness with we of growth to to serve do and Our competitive We commercial to our critical performers this the look At offers

our For America to patients we for therapy. evidence EGRIFTA identify promised North treat. start assets, in and the healthcare the example, In are providers helping we patients, provide them real for diseases trial will and to the in encouraging expect world SV Europe contribute stay reinforcing VAMOS Trogarzo study value they that to we and on building for

that states. model lies improve We affairs We improve New Theratechnologies believe and corporate to our the retention as medical on also recruitment own from new decision the contract top that of talent this both begin to we this sales are chapter customers. post-COVID the development. meetings new resumed now summary important topic, we by as of to will across will that hiring optimistic and of in company's In the one especially we for our with fold, momentum, staffed transition our key our welcome family. members these field express affairs by positive how are field into task are the force significantly delighted the contract ahead teams the force and like a most into medical colleagues sales to Year employees, coupled In have I would are of what face-to-face engagement making Theratechnologies of integrated confident

XXXX. XX% versus just first overall the compared XXXX growth X.X%, half second While X% was to the grew half in

same demand post catch a of grew the and unmet traction year the and up we patients In execution to with marketplace. a as as a in for the half we EGRIFTA commercial second blended that remains strategy revenues in getting patient Trogarzo needs. swiftly period. with good high priority ago the year the in across SV COVID very with Growing of our franchises promotion, move to enrollment XX% This are sign addition, new year the compared our in is

is capital note, market. access biotech side current volatile a difficult in As very the

allocation serves capital choices. our support us development. However, that This commercial being revenues our generating our revenue from a enterprise to our pipeline selective advantage business commercial business and relative to more of de-risk is be allows in

oncology dose or initiating establishing the Phase tolerated of THXXXX. maximum of to to clinical and Part close track, B MTD we're program our the to close, the On report trial the that very X happy is

docetaxel. days, two than we other have DLT than times neutropenia or mg/mX. study, THXXXX's dose peptide treatment at significant the of of drug adverse the patients sortilin-positive patient, in X doses of X/Part consisting four evaluating in administered We a mg/mX, THXXXX grade indicated therapeutic events equivalent the trial of the escalation well observed To after investigational of dose more as at one total, dose Phase date, toxicity A stages been seven nearly have cancers. as lasting for cycle XXX conjugate XXX In limiting lead are final our more to now in a one

study currently enrolling result, the dose at patients X.X pursue the times DLTs this a to lower trial. tolerability dose enrollment safety immediate label have established, following been confirm the docetaxel. larger the are initiation basket allows The basket the the of approximately mg/mX, first the of the we to of decided or trial protocol As THXXXX. of assess usual lower cycle. for study further MTD of and We Once dose at has absence open XXX would of the

an on all will criteria on and Additionally, the triple type. research the have Based submitted the the to XX be the of conducted cancer, receptor, types: SORTX tumor X solid responsive in negative endometrial have patients evaluated per amendment cancer, as cancer, with additional tumor we anti-tumor to patients tumors. preliminary evaluation we solid for melanoma activity ovarian include FDA breast Phase breast hormone per to the approximately protocol cancer, following receptor-positive THXXXX

patients consisted Sortilin will high lung, arm of trial cancers evaluate cancers. expressing enroll one prostate, other patients total. XX a total of potential in now of tumor addition, tumors, order XX to include in selection thyroid, small In to solid the and The anti-tumor be across of The including in potential activity trial basket colorectal and cell added design XX a of approximately mix patients THXXXX. types original the including a is with pancreatic plan to

possibility previously development and we're out-licensing As in THXXXX also the for commercialization rights Greater exploring China. mentioned, of

We very with the been has number of report there and to biotech that companies. Chinese part pharmaceutical companies, are are pleased different discussions interest solid of ongoing and a that on

to dialogues, exposure talks geographic addition receptors. In we're our seeking exploratory also SORTX carrier these companies cancer through to from in a gain target the leverage peptide as to with cells

potential optimistic and medium near the development in metastatic THXXXX out-licensing treatment managing approach for of the in the development, at Looking to internal of solid, we the our THXXXX's both are term. opportunities, and partnering and cancers, of refractory

favorably. on Moving with recently company update, you NASH treatment option. and Based we may to NASH in interest interesting very of seen and renewed area data. seeing have the to than as very that news tesamorelin awareness as NAFLD more community our this other data are the published continue for in a ever and on believe reacted as in tesamorelin subsequently NASH a published The of investment gain in NASH the recent treatment for NASH, the prospects experts interest

XXX Phase of an analysis the to While design we'll a to study will see our submit an in the of X efficacy options establish smaller Phase continue non-diluted data will on include NASH of first seamless partnering program, endpoints. company Xb/X monitoring protocol the study's primary in where upcoming new assess analyzed of the be be committee planned total made tesamorelin will proceed XXXX XXXX of then plan by patient's to subset order the decision patients. a patients. the A total, remainder of to with in interim trial amended days the The will a financing data

patients patients. financing an we're of to seek to while the execute event continuation the providing While all to FDA with going a the NASH, we'll this serve partner benefits treatment continue de-risking with the In up assist an of the seeking substantial doesn't will analysis the our bases, and number of as accelerated on for required own. to And to general meantime, tesamorelin will it inform total trial, the change program, to of approval interim enrollment covering forward. also indication of in and us credibility seek ideal the capability NASH alternatives both

a investors moving know products, of continuing I further to provide immediate, line near includes reporting and summary our financial new over like XXXX to program of alike. to From I Philippe? to who for Philippe, we're term, term portfolio clear, the total, catalysts objectives patient's remain and will the to not develop that fiscal Philippe perspective, management formulations or and call I want extension With exit only In would assets crystal clear. call also our to that benefit before benefits which complete turn long the Before this, for of efforts mode Q&A. provide turn strategies but over period medium will our our to develop administration. development opportunities unmet needs, entry the the a with for convenience

Philippe Dubuc

of good QX quarter Paul. $XX.X of fiscal the year X.X% Hi, down fourth our XXXX versus revenues And for were morning, XXXX. everyone. Consolidated million,

affected was Trogarzo. France, related quarter I our explain the for the As and a are the are which will later, provision negotiations to potential with we ongoing of related our reimbursement in by clawbacks for topline taking government directly to

We rebates $X.X and however, new X% chargebacks higher quarter, starts by were higher million same a pandemic. SV report of mostly sales revenues revenues in up the Unit down $X from the were of $XX.X in EGRIFTA lower EGRIFTA down a were the period year-over-year, sales combination higher Increased during to government of patient XXXX. and the million results the net pleased affected same the gross the selling in were year. of payers COVID-XX of lower result Trogarzo SV last period US. of were from million selling that during from price, and the of XX.X% sales are, and quarter, unit mostly a price

We the reopen of reopening with meeting face clinics economy. result as physicians are to the of currently face a and general seeing increase

the Negotiations is market will able are if with provision related again the to agreed a lockdowns take sales in provision impact we to that in We a the we to will XXXX variant Trogarzo by of in revenues be Trogarzo even continue price of being to with the to December January. growing related needed start government, The was shortly. French recent This early of affected conclude Trogarzo the confident negotiated the which in we Omicron anticipation to believe competing French to unit related has mostly related sales clawbacks negotiations and bigger to anticipated government is price affected France. be these drug. to the short-term

in can the Trogarzo sales growing days, a report after As our range few I from grown EGRIFTA QX in the end that to XXXX quarters will and SV few have XXXX. difficult sales quarter first resumed XX% unit have unit next QX

sales expenses in million The with higher to in between which guidance preparations, $X.X spending higher QX Cost program, $XX So in $X.X million the are as the we a and including million this in same million R&D increased compared were $X.X XXXX quarter this quarter costs, mind, education, of for X Europe. is revenue increase same in mostly morning, but decrease relatively This XXXX for not due is NASH for XXXX. to announcing expecting spending last stable year. sales incurred revenue year. million. amounted and are and last $X.X patient compared in X in QX XXXX $XX Phase of production related initiatives at trial to well medical the and fiscal as Phase to million our oncology was in affairs largely the medical due to

associated overall personnel The year. largely Trogarzo a senior $X.X the as QX in XXXX, amounted in in to For increased XXXX. increased compared million in in November stronger organization increase well in were North to G&A mainly Europe key activities the net same slightly three-month from in to finance as with period markets. In of compared amounted addition to expenses million the business attributable to sales costs ended selling America million increase is $X.X million costs in in XXXX, $X.X XXXX. QX and the is in to activities of in last XXXX, selling $X.X The finance million of $X.X expenses the ahead Europe. QX $X.X activity period increase million expenses launch XX build QX up

as costs notes, well exchange increase balance. by comprised cash the interests earned and convertible interest foreign As on expense in variations previously offset stated, as on our are finance net of

is For quarter to net the of compared due negative EBITDA a the mainly XXXX, the higher $X.X million fourth of difference to during recorded loss year. we $X.X million negative The last quarter.

impact ended with capital So the during the of raise year $XX.X of the XXXX, and QX cash equivalents reflecting of million. cash we

be questions. final comments will back will call the but we for So, Paul open first, take your to

Operator

from Instructions] Andre the first Our Mackie comes Uddin question [Operator you. Research. Thank line with of

Andre Uddin

Paul, When Phase Christian. program? see would also morning, data when think a questions. X, Phase do and NASH Philippe, think he we Good X start just you X, would I few the had you do XXXX safety and some

Paul Levesque

Okay.

about want that? for after. color question. to maximum thank its think as the and provide your So, going following additional you right well, Christian, trial, is finalize do be basket tolerated THXXXX, I we said, you to it's dose to to

Christian Marsolais

the patients we At patients. in ready at this the open three that be based DLTs that, DLT following stage, some reduced three then next is not docetaxel be times the enrolling mentioned we trial. we're proceeding what Yeah, is And seen but given that to three but study data known XXX we'll XX we're [indiscernible] and to is DLT dose. in that mg/mX, We alone, months. administered XXX we XXX is this mg/mX. dose have a After very have, monthly the basket expecting which with X.X good on this of of any the will were now two, dose looking

Paul Levesque

When protocol the about the we to FDA. with are the to it amended file your NASH, question, second comes

of treated been And to will Xb/X that with recruitment therefore being to expect needed and waste allow data, that us have because with day have carry And XX that, patients following But us which are not allows is Phase for today plan made and through clarify we have go our that seamless announcing major XX to much you on very, we'll time. that actually know them. doing from the very is We everything patients forward. protocol us to significant. - pretty this is a endpoint decision we so to XXX heart the we've response able

now, is amended first going stepwise protocol we're fine this the think confirm with that to FDA. I So

comes that finance financial when and as we other that Second, trial to made share decision one back have the means that. it to final either as another will ensure a we beginning support you way can or through partnership soon we a the or of get

Paul Levesque

Now, that's great.

other couple CROI questions. based there what any if with synergies are Rukobia was a Trogarzo this just the was seen year? also wondering Just conference and at I on

Christian Marsolais

in what those see And we that and can control the we the that viral two And at of have we like on in agent, are XX only fully active it combination and presented moment clinical Rukobia. we Ibalizumab what trials market. used if load, patients, the becomes we the more Yeah, had the shown combination is our more even undetectable. and

effect, drug will what And We presented very, also in in those can Rukobia, work with synergy scientists the that year. good. models. of say very we At effects the are different moment, data is additive see or likely be most later I which that this additive with vitro is assessing

Andre Uddin

Okay.

one one Just here. last

there for that independent Italian in wondering - ICU VAT levels EGRIFTA just EGRIFTA an any going looking there showing is studies was off admission. at for year use there indication? study and this are COVID this, any And Just last Thanks. if predicted label on

Paul Levesque

Christian?

Christian Marsolais

making and sure significant is to a that's that what And and severe important. to yeah, of Italian patient it data our - more making we between in for physician be were really the received. medical VAT shows And HIV cosmetic, an the speaker it's this And amount US And to is good looking well Yeah, was treated the VAT. It about that in but VAT other program, these need speaker something and there also maximum. this to very talk there's this our population, And nice program, data, KOL studies, symptoms the team which is observation. But was for treated these very reduced us, the showing this. did, physician able is and not tackle like what link of were about VAT was a study. to talk done that the very were should the included question. COVID. Then - we've also needs to be able it that it only it's at

Paul Levesque

reinforces Christian, that is a serious it fact condition. medical or further you the lipodystrophy Thank the VAT

we're think to see for themselves So of and that education. using that patients. are will medical we lipodystrophy continuing in HIV the bulk more And more doctors in treat evidence solution we the only

Andre Uddin

Thanks much. great. that's Okay, very

Operator

you. Thank

Leno the Bank. question from with Endri Your next line comes National

Endri Leno

is internalizing I'll you Thanks that this, the achieve to my for first the do me, achieving and few morning. and question one plan but what rationale with is, The force, for are Paul the good not for on for Hi, force questions. A what so? taking start you perhaps. the here sales sales through

Paul Levesque

else, in will are anyone a business indication, you want either use But a because long that have the Well, of or period you the of to for before new surge force that tell something fine. sales organizations time, to a you want that activities you to have permanent transition contract you type not have only contract you normally sales for in and run. is the

So endeavor. we could the very with we to prescriptions, significant the new the speech, strategies have for it of want our as wanted a initiating to new move in products if the is we to down of soon rationale and our interacting as beat growth competent, transition, tactics because year to we very I that extremely execute latter I to we And a could we on the highlighted physicians. face we enrollments last to the face competition, actually part of these engaged, in want this in ourselves, we results comes want pleased terms was, if type very got that, with we as when were this want And to if year, field set need we relevant, to before be force. produce think relevant see

trigger effectiveness, a is So to synergy to of want more I foresee team, think, superior effectiveness, with engagement we and field, do will John, add medical and field the what together force a more and a trigger results. you all that few superior actually, things? that me, was

Philippe Dubuc

and product, force, is sales force any engaged mean, some had contract having I with fairly think we with highly sales inherent limitations. the as a mean, there's a absolutely I I And One, the critical. Yeah, going be to these could to a due these, and of nature rate contracts having significant is be the our somewhat people transitory turnover own to - significantly high benefit be products.

experience that a We of last also year VP HIV. significant Sales has in hired

it's this the dividends the in the process we're think So big in really of capabilities and force, building pay going sales of coming to we months.

Endri Leno

power. to achieve initially? is to more that Okay, up a is of And if ROI bump on timelines are what can gain, that the force? be would with you the now, sales And one internalized great, targeting you follow great that ROI what cost kind any

Paul Levesque

Philippe?

Philippe Dubuc

did Thanks, to the cost pretty a operation. is hefty management to we fee Well pay Syneos because much cost manage neutral our Endri.

more turnover, of We general for So lower have we're support to hire no do really the But the the cost some staff. in top neutral. longer is and paying It performers. the that. is engagement, recruitment

cost basis, neutral really best seen. that is pretty - So on the it's but the on were it's operations impact

Endri Leno

very much you for thank Great, that.

can Next modeling question, has the if this what reimbursement an Europe, the for what on Trogarzo, are there? you and just update first, countries clawback if you question quarter was other can you Trogarzo it in targeting gained on is, us Trogarzo for other where purposes? provision give quantify And

Paul Levesque

are have offering to a you benefits a able investments. are promote cap. not for accepting fact on based Europe, imagine, there may from the But got those negotiate relationship countries it there's run volume. can some cap And There direct country and comes down a countries in patients allow and some the good recruit. where to that by for between got country. time, to the reap of would able have Well, this a good not a ago. able we in while as to been our before the negotiation where careful we of know, countries actually to we commercialize you Europe now we us for number price is no a We've an we pricing be price other but some long an where indication when one total other have extremely as EMA we we situation country And would at do being is are that

price many we continue a that are smaller we probably we where recently earlier, in with there's a Incidentally last So significant negotiating Europe of year is countries the XXXX. All We will that a Israel and fair amount also of approvals HIV Norway, at And we countries at based in on scope. great Europe that end a country, a in of main said, are we for one price like patients. we for the is have the Austria, but Spain is small in good countries. secured which that like and carries deal just expectation and a like France. country way potential in have in negotiating. Italy countries the for scope, as one but us it's find UK in negotiated I their time, Portugal of is in country scope a

have all the for we in your where to to scope, right in have one country So out need questions, at answer in do go-to-market way we it's But let could customer that end. a where And facing, and negotiation be negotiation just the the sense we'll actually of to a makes it get focused. time the customer you us. are a know countries and out model ends we

take that do your that to think question potential want Philippe, had and do with that - you I Trogarzo is the second I what clawback? one? to heard? Now, Is

Philippe Dubuc

Yeah. exact provision, the the we're government. And not the with still announcing size in Endri, of French negotiation we're

for private it. overall, say that quarter on now. topline that the shown But keep if to growth have we is would what the for can hadn't we we had I So want

that's say So going now. we're to right all

Endri Leno

to quick during discussions is alternatives an received good on thank me the Now, And is potential with colors, the just a response couple modified line, one this but it NASH, for that's strategy? products the on of feedback developed and protocol, or you. in any partners, development internally

Paul Levesque

this X the doing a we it's Phase a We've fair want analysis Well, Xb our doing Phase that and of to similar Phase been doing twofold, compare analysis embed guess. trial. And to Xb, be Phase benefits frankly, protocol. then would to of bit trial quite very a interim I X in a

have letter, chopping go. believe the study So time, that financial long proceed they we may agency science view. off same sense. are able first a and lot view a And of to makes great a of believe financing we sense because are patients a treated, bits, that makes ago, from from good time And a of at endpoint the smaller to XXX hard of gave a us, after point deal in point being study the the analysis, but both also

think we of I this are agency we on approach, fine called for seamless do final So protocol, this? that the have, providing the all is to add you to Christian, a that think going the cards want or with which that approach decision. type is table us to to make

Christian Marsolais

think I it. No, that's

Endri Leno

if activity as you one point? you until wait indication would last the of from have table Great, on something the entity And it, me, Would THXXXX you. have do trial? in thank the and Or for the on at imminent you you the this had is a licensing this strategy? oncology, the out some established China? basket How

Paul Levesque

for the thanks answer Well, Philippe, that question. I'll question. let

happy what have with they've terms. we with We very are of in negotiation seen. already And some are them companies, many

to to it say? what we Philippe, actually others, want can turn Some we may more. see

Philippe Dubuc

think Chinese overall market. here was Chinese I we're the partner, to going ourselves objective the it a for get because to not develop

possible So as involved have get as track. a as early much as parallel we wanted development to possible, someone

willing And them of them risk. are XXX some the take so, data and companies, Phase X obviously, wait we said, we'd rather of contacted for but to some probably

milestones should hurdles there because every we why development regulatory and be to see don't that will we wait So through. associated we go

on bring as someone possible us to that in really, the as achieve the early could they was help that So development basis. have global we a what wanted product so forward

Paul Levesque

short, value want a is to that this So put strategy forward. generating we in

Endri Leno

color. Thank very That's you great much.

Paul Levesque

question. your for Thanks

Operator

no And Thank you. I'm further showing questions.

Philippe Dubuc

questions the on few oncology Phase trial. the the few we'll the putting platform. into of in trial so web from that the a terms we'll quite there's Xb take of Okay, a cancers And be selection new

of paraphrase read and I'll few them. So, a

decision to work the Xb clarify to add drop something and So, it was trial was can did? in types pancreatic the colorectal? cancer or that informed other Phase you what more seen please you types and the And and that

Paul Levesque

made What for other Okay, I a you that well, we've this announcement way it question. anybody the an or should And pancreatic, to thank drop today. colorectal important This as of the around. you see is actually wouldn't see say like is done that efficacy, on trials measure that so work we to you we've want early to more? optimizing of our expression are see to we've done the SORTX Christian, basket signs of receptor. the that based

Christian Marsolais

that in the at on also seen it's that some And is Sortilin to than and well. and expressing eventually, goal patients protocol patients, the maybe better fast to of expression, goal the FDA, pancreatic market cancer that's we've a just could Phase but what are done work chance was that efficacy then, is of a it's Sortilin. moment. we the ago. as cancer cancer, without seen types. and But colorectal different percentage receptor tumor tests in to with the a the completed of or many to a a the X. initial fast you submitted only most diagnostic a many, as the to better but year Paul track in of a that type test, lower significantly chance large diagnostic Yeah, the the the signs selected for half it's And we've have the for since said, about have analysis if FDA remember, But cancers in And all that is we've a number expressed see more

Paul Levesque

learnings our so very an as point a is as today's education some possible. driving winning of this and just some highlighting or conversation, important new that protocols into fast integrating increase are we in our chance we So

Philippe Dubuc

And from the to maybe or doing. on present publish that, planning work close results we've either we been the to just are Sortilin that

So you case they IND do for Phase for X, SortX expressing or a Phase type? each tumors XXXX for will be cancer the solid expect be X all to

Paul Levesque

Christian?

Christian Marsolais

because to the we we of well. the a in one drugs efficacy I see in that a type. be see what faster of type efficacy as use most be basket we Right? see If most basket approach it question. cancer a This But tumor If more that good tumor, At there likely type by depends all Yeah, will one tumor is developed our will for many on tumor we be It kind very in might think a type, moment, past. are could market. approach similar it trial. different

Philippe Dubuc

on again, adverse after THXXXX, how cycles initial cycle? the serious the were Okay, events in the

Paul Levesque

Christian?

Christian Marsolais

linked cycles. seem and in tolerated will give Yeah, of or some That's some you all with discussion neurotoxicity higher docetaxcel, the when some seen have mg/mX mg/mX, it more investigator docetaxel, observation, docetaxel. those be after this able will to higher seen the we be Then advanced signs with three patients. the in is [indiscernible] we XXX two what way And treating to on of also a what are times regular a get decided at We've better that's cycle, and docetaxel think seen XXX taking events based go a this is build that the dose to the which if or acuity point you of objective At much we've of certain what signs where a on that with cancer they see same it's adverse fatigue. X.X with seen visual part on docetaxel. study to level. dose you our even get to we

Philippe Dubuc

A for you applications looking outside other SortX receptor question at be oncology? the of will here,

Paul Levesque

body. and got So in other the But other quite SortX thanks in our the with that We of frankly, applications on know full SORTX there based it's expressions for we've could now potential. oncology some expression question. be hands parts

companies our the into peptide cancer do that You can SORTX a bit entry and as companies have on fair so receptor we get And cells. we'll carrier heard the the get to the a vast works this shown identified of understand to to trial basket why have education in while we to as interest also have not. have majority cancer of that people cells, the it how some

is the prudent that very are of very, time. at but of here spread ourselves applications additional in got our we've this journey cancer many we not there and way be So this part to outside

Philippe Dubuc

long milligram you Okay, to a will XXX give at how timeline? it, it level? safety take will confirm the Could how

Paul Levesque

Christian?

Christian Marsolais

We will and for is DLP. three to they recruit weeks follow protocol is set we go and hold three need patients, The the way there's the when three be we next them ready no basket for weeks them the to for three trial. patient

time we be one think the with to of we trial. terms three we and a trial. sometime, of we're but the be Then timeline, a there's almost patient within months, in confirm, who patient the have bit patients think that significant moving condition recruiting the has in thing was careful be basket the start, I the to more to have a could able from I ahead next ready to there the progression excluded should so be and

Paul Levesque

not escalation, like thank have line, backward. at I could And now mean process. we sometimes to always Christian. one that are understand, And it of straight want a one you you it really is to go this know? dose forward you The unfortunately, looks people the step end step

to of of couple we soon as at next actually weeks. pace, the different up we'll in a towards as opening done, need So that basket confirm with Christian And couple the start highlighted confirmation just try. a is

Philippe Dubuc

last that to coming ACR as we'll up on can't coming I'm going tell June that. cancer? up really in the on upcoming any We but So is conference you is presentations and answer question oncology, well. ASCO answer

a of but we on force NASH. cost, on patients of cost it on that patients. estimated set So in our should working the Again, sales the go so there's about a in are a should cost And cost bit say pursuing as that's $XX the be XXX for a on on we're a the be But some overall cost still transition, of the to can all of neutral. the third upfront the we on and/or there basis, with said, There's forward little question range, the it impact third up. impact. first it on a CRO the million on determining now. cost question And exact the

the Q&A concludes session. that So

it hand I'll So back over to Paul remarks. for closing

Paul Levesque

you who clearly plan. that four We everyone call strategic the drivers today. main we our to operating Well, Theratechnologies' thank have of XXXX hope joined articulated

and which are franchise of ability company sales to includes, as the rollout medical field in in Our drivers outcomes. and support in order beyond, newly firstly, clear on allow to We force and our to focused we the rather more therapeutic marching XXXX even connect activities. flex will orders internal of and superior our be these force competitive established improve providers believe sales engage internal our patients with our and

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Operator

Thank conference may participating call. This disconnect. you concludes now for you today's and

John Mullaly	IR, LifeSci Advisors
Paul Levesque	President and Chief Executive Officer
Philippe Dubuc	SVP and Chief Financial Officer
Christian Marsolais	SVP and Chief Medical Officer
Andre Uddin	Mackie Research Capital
Endri Leno	National Bank Financial, Inc.
Edward Nash	Canaccord Genuity Corp

Theratechnologies (THTX) 27 Feb 222021 Q4 Earnings call transcript