MONTREAL, CANADA--(Marketwire - June 13, 2011) - Theratechnologies Inc. (Theratechnologies) (TSX:TH) is pleased to announce that its common shares have been approved for listing on the NASDAQ Global Market (NASDAQ) under the ticker symbol "THER".
Theratechnologies expects its shares to begin trading on NASDAQ on Wednesday June 15, 2011. Theratechnologies will retain its primary listing on the Toronto Stock Exchange under the ticker symbol "TH".
"The listing of Theratechnologies on the NASDAQ marks another milestone in our quest to grow the value of our company and strengthen our shareholder base," affirmed Mr. John-Michel T. Huss, President and Chief Executive Officer of Theratechnologies.
"Through this listing, Theratechnologies is increasing its visibility in the U.S. and providing a broader range of investors with access to our stock. It is also fitting for Theratechnologies to be listed in a jurisdiction where our flagship product, EGRIFTA®, has been successfully launched and its sales continue to gain momentum," added Mr. Huss.
In connection with its application to list on the NASDAQ, Theratechnologies filed a registration statement on Form 40-F with the U.S. Securities and Exchange Commission. The Form 40-F is available at www.sec.gov.
Theratechnologies (TSX:TH) is a specialty pharmaceutical company that discovers and develops innovative therapeutic peptide products, with an emphasis on growth-hormone releasing factor peptides. Its first product, EGRIFTA® (tesamorelin for injection), was approved by the United States Food and Drug Administration in November 2010. To date, EGRIFTA® is the only approved therapy for the reduction of excess abdominal fat in HIV-infected patients with lipodystrophy. EGRIFTA® has not been approved in Canada.
EGRIFTA® is currently marketed in the United States by EMD Serono pursuant to a collaboration and licensing agreement executed in October 2008. In addition, Theratechnologies has signed distribution and licensing agreements with a subsidiary of Sanofi granting them the exclusive commercialization rights for EGRIFTA® for the treatment of excess abdominal fat in HIV-infected patients with lipodystrophy in Latin America, Africa and the Middle East and with Ferrer Internacional S.A. granting them the exclusive commercialization rights for EGRIFTA® for the treatment of excess abdominal fat in HIV-infected patients with lipodystrophy in Europe, Russia, South Korea, Taiwan, Thailand and certain central Asian countries.
Theratechnologies is also looking to develop tesamorelin for the treatment of
muscle wasting associated with Chronic Obstructive Pulmonary Disease (COPD). Tesamorelin has been shown to increase muscle mass, which makes it a potential treatment for muscle wasting. The COPD clinical program is expected to begin in September 2011.
Additional Information about Theratechnologies
Further information about Theratechnologies is available on the Company's website at www.theratech.com. Additional information, including the Annual Information form and the Annual report, is also available on SEDAR at www.sedar.com.
This press release contains certain statements that are considered "forward-looking information" within the meaning of applicable securities legislation, which statements may contain such words as "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions. This forward-looking information includes, but is not limited to, information regarding the growth in value of Theratechnologies, the continuous sale of EGRIFTA® and the timing of the Company's listing on NASDAQ.
Forward-looking information is based upon a number of assumptions and is 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 assumptions include, but are not limited to, that regulatory agencies in countries outside of the United States will approve EGRIFTA®, that EGRIFTA® will be accepted by the marketplace in those territories, that the sale trend of EGRIFTA® in the United States will continue at the current rate and that shares begin trading on NASDAQ within a few days of listing approval. These risks and uncertainties include, but are not limited to, the risk that EGRIFTA® is not approved by regulatory agencies outside of the United States, that, even if approved, EGRIFTA® is not accepted by the marketplace and the level of sales, if any, is not as expected, that sales of EGRIFTA® in the United States lose momentum and reach a plateau or a negative trend and that the commencement of trading on NASDAQ may be delayed by some unforeseen reason after listing approval.
Theratechnologies refers potential investors to the "Risks and Uncertainties" section of its Annual Information Form (the "AIF") dated February 22, 2011. The AIF is available at www.sedar.com 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 information reflects current expectations regarding future events and speaks only as of the date of this press release and represents Theratechnologies' expectations as of that date.
Theratechnologies undertakes 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.