Theratechnologies Inc. (“Theratechnologies” or “the Company”) (TSX:
TH) (NASDAQ: THTX), a biopharmaceutical company focused on the
development and commercialization of innovative therapies, today
held its annual meeting of shareholders.
As part of the meeting, shareholders proceeded
to elect the below candidates to the Company’s Board of Directors
for a one-year term and appointed KPMG, LLP, as the Company’s
auditors for the current fiscal year. Shareholders also passed
resolution 2022-1 and resolution 2022-2 approving the shareholder
rights plan and the amendments to the Company’s share option plan,
respectively.
All candidates proposed for the position of
directors were elected in the following proportion:
|
FOR |
% FOR |
ABSTENTION |
%ABSTENTION |
|
|
|
|
|
Joseph Arena |
24,547,704 |
87.78% |
3,415,822 |
12.22% |
Frank Holler |
22,885,751 |
81.84% |
5,077,775 |
18.16% |
Gérald A. Lacoste |
20,492,703 |
73.28% |
7,470,823 |
26.72% |
Paul Lévesque |
25,518,114 |
91.25% |
2,445,412 |
8.75% |
Gary Littlejohn |
21,994,509 |
78.65% |
5,969,017 |
21.35% |
Andrew Molson |
23,811,147 |
85.15% |
4,152,379 |
14.85% |
Dawn Svoronos |
21,785,888 |
77.91% |
6,177,638 |
22.09% |
Alain Trudeau |
23,574,348 |
84.30% |
4,389,178 |
15.70% |
Dale MacCandlish Weil |
22,784,001 |
81.48% |
5,179,525 |
18.62% |
Dawn Svoronos, Chair of the Board and Paul
Lévesque, President and CEO of Theratechnologies, addressed people
who attended the virtual meeting:
“Many of you will recall that only a few short
years ago, Theratechnologies was a purely commercial company with
no research pipeline. And as we know, in the business we are in, in
order to create maximum value for shareholders, it isn’t optimal
over the long term to just be a commercial company or, for that
matter, to just have a research pipeline. To have the best shot at
delivering the healthiest return on investment for shareholders,
you need to have both. And it is with this very much in mind that a
few years ago, under the strategic direction of the board, the
company set out to build a research pipeline – which is no easy
feat for a company the size of Theratechnologies with the limited
financial resources that go along with being a small company,” said
Dawn Svoronos, Chair of the Board, Theratechnologies.
“And so we are very happy to be where we are
today, with a well-established commercial operation that is
achieving nice revenue growth and where we also have an early stage
development pipeline that is being built on a strong and novel
oncology platform with the potential to not only change lives and
future standards of care in solid tumors but also gives us the
chance to provide a very healthy return on investment for our
shareholders,” concluded Ms. Svoronos.
Paul Lévesque, President and CEO,
Theratechnologies added, “Looking back at our quarterly performance
and the milestones that we have crossed in order to reach this
juncture, we continue to capitalize on our ability to unlock the
intrinsic value of our commercial portfolio. Not only have we
reconfirmed full year guidance in the new reporting period that has
just passed but we have yet to fully utilize the coordinated
strength of our newly formed internal field force which is expected
to ramp awareness and engagement between the market and our
brands.”
About Theratechnologies
Theratechnologies (TSX: TH) (NASDAQ: THTX) is a biopharmaceutical
company focused on the development and commercialization of
innovative therapies addressing unmet medical needs. Further
information about Theratechnologies is available on the Company's
website at www.theratech.com, on SEDAR at www.sedar.com and on
EDGAR at www.sec.gov.
Forward-Looking Information
This press release contains forward-looking statements and
forward-looking information, or, collectively, forward-looking
statements, within the meaning of applicable securities laws, that
are based on our management’s beliefs and assumptions and on
information currently available to our management. You can identify
forward-looking statements by terms such as "may", "will",
"should", "could", “promising”, “would”, "outlook", "believe",
"plan", "envisage", "anticipate", "expect" and "estimate", or the
negatives of these terms, or variations of them. The
forward-looking statements contained in this press release include,
but are not limited to, statements regarding return on investments,
revenue growth, the development of a pipeline, the development of
our oncology platform and our revenue guidance for the current
fiscal year.
Although the
forward-looking information contained in this press release is
based upon what the Company believes are reasonable assumptions in
light of the information currently available, investors are
cautioned against placing undue reliance on this information since
actual results may vary from the forward-looking information.
Certain assumptions made in preparing the forward-looking
statements include that: the current COVID-19 pandemic will have
limited adverse effect on the Company’s operations; sales of
EGRIFTA SV® and Trogarzo® in the United States will increase over
time; the Company’s commercial practices in the United States will
not be found to be in violation of applicable laws; the long-term
use of EGRIFTA SV® and Trogarzo® will not change their respective
current safety profile; no recall or market withdrawal of EGRIFTA
SV® and Trogarzo® will occur; no laws, regulation, order, decree or
judgment will be passed or issued by a governmental body negatively
affecting the marketing, promotion or sale of EGRIFTA SV® and
Trogarzo® in countries where such products are commercialized;
continuous supply of EGRIFTA SV® and Trogarzo® will be available;
the Company’s relations with third-party suppliers of EGRIFTA SV®
and Trogarzo® will be conflict-free and such third-party suppliers
will have the capacity to manufacture and supply EGRIFTA SV® and
Trogarzo® to meet market demand on a timely basis; no biosimilar
version of EGRIFTA SV® will be approved by the FDA; the Company’s
intellectual property will prevent companies from commercializing
biosimilar versions of EGRIFTA SV® in the United States; results
obtained in preclinical studies with respect to our oncology
development program will be replicated into humans; and, the
Company’s business plan will not be substantially modified.
Forward-looking
information assumptions are subject to a number of risks and
uncertainties, many of which are beyond Theratechnologies’ control
that could cause actual results to differ materially from those
that are disclosed in or implied by such forward-looking
information. These risks and uncertainties include, but are not
limited to, those related to or arising from: the adverse impact of
the COVID-19 pandemic on (a) the Company’s sales efforts and sales
initiatives, (b) the capacity of the Company’s suppliers to meet
their obligations vis-à-vis the Company, (c) the Company’s research
and development activities, as well as (d) global trade; the
Company’s ability and capacity to grow the sales of EGRIFTA SV® and
Trogarzo® successfully in the United States; the Company’s capacity
to meet supply and demand for its products; the market acceptance
of EGRIFTA SV® and Trogarzo® in the United States; the continuation
of the Company’s collaborations and other significant agreements
with its existing commercial partners and third-party suppliers and
its ability to establish and maintain additional collaboration
agreements; the success and pricing of other competing drugs or
therapies that are or may become available in the marketplace; the
Company’s ability to protect and maintain its intellectual property
rights in EGRIFTA SV® and tesamorelin; the Company’s ability to
successfully conduct its Phase 1 clinical trial using TH1902 in
various types of cancer the discovery of a cure for HIV; the
Company’s expectations regarding its financial performance,
including revenues, expenses, gross margins, profitability,
liquidity, capital expenditures and income taxes; and, the
Company’s estimates regarding its capital requirements.
We refer current and
potential investors to the “Risk Factors” section of our Annual
Information Form dated February 23, 2022 available on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov as an exhibit to our
report on Form 40-F dated February 24, 2022 under
Theratechnologies’ public filings. The reader is cautioned to
consider these and other risks and uncertainties carefully and not
to put undue reliance on forward-looking statements.
Forward-looking statements reflect current expectations regarding
future events and speak only as of the date of this press release
and represent our expectations as of that date.
We undertake no obligation to update or revise
the information contained in this press release, whether as a
result of new information, future events or circumstances or
otherwise, except as may be required by applicable law.
For media inquiries:Philippe DubucSenior Vice President and
Chief Financial Officercommunications@theratech.com514-336-7800
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