Theratechnologies: Q4 and Full Year 2024 Financial Results and Business Highlights
Montreal, February 26, 2025 – Theratechnologies Inc., a leading specialty biopharmaceutical company, recently reported its financial results and business highlights for the fourth quarter and full year ended November 30, 2024. All figures are provided in US dollars.
Business Highlights
During the fourth quarter, Theratechnologies announced the completion of patient enrollment in the pivotal Phase 3 trial for TA-817, its investigational therapy for the treatment of Fabry disease. The company also submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for TA-817 in late-stage Fabry disease.
Additionally, Theratechnologies entered into a collaboration agreement with AstraZeneca to develop and commercialize TA-817 outside North America. This partnership could potentially expand the reach of this innovative therapy to a larger patient population.
Financial Results
For the full year 2024, Theratechnologies reported total revenue of $131.5 million, an increase of 25% compared to the previous year. The net loss for the year was $113.8 million, compared to a net loss of $105.6 million in 2023.
In the fourth quarter, the company reported total revenue of $34.1 million, a 20% increase compared to the same period in 2023. The net loss for the quarter was $33.2 million, compared to a net loss of $27.5 million in the fourth quarter of 2023.
Impact on Individuals
The successful completion of patient enrollment in the pivotal Phase 3 trial for TA-817 is an encouraging development for individuals living with Fabry disease. This investigational therapy, if approved, could offer a new treatment option for managing the symptoms of this rare and debilitating condition.
- Fabry disease is a lysosomal storage disorder that can cause a range of symptoms, including chronic pain, kidney damage, and cardiac issues.
- Currently, there are limited treatment options available for Fabry disease, and many patients require frequent infusions or enzyme replacement therapy.
- TA-817, an oral therapy, has shown potential in clinical trials to provide effective symptom relief and improve patients’ quality of life.
Impact on the World
The collaboration between Theratechnologies and AstraZeneca to develop and commercialize TA-817 outside North America could significantly expand the reach of this innovative therapy to a larger patient population. This partnership could lead to:
- Greater access to effective treatments for individuals with Fabry disease living outside North America.
- Reduced healthcare costs associated with managing Fabry disease through the use of an oral therapy, which may be more convenient and cost-effective than current treatment options.
- Advancements in the field of lysosomal storage disorders, potentially leading to the development of new treatments for other conditions.
Conclusion
Theratechnologies’ fourth quarter and full year 2024 financial results and business highlights demonstrate the company’s continued progress in the development of TA-817, an investigational therapy for Fabry disease. The successful completion of patient enrollment in the pivotal Phase 3 trial and the submission of an NDA to the FDA are significant milestones that bring us one step closer to offering a new and potentially more effective treatment option for individuals living with Fabry disease. Moreover, the collaboration with AstraZeneca could expand the reach of this therapy to a larger patient population, making a positive impact on the lives of those affected by this rare and debilitating condition.
The potential approval and commercialization of TA-817 could also lead to cost savings and improved patient care through the use of an oral therapy, as well as advancements in the field of lysosomal storage disorders. Stay tuned for further updates on this exciting development.
