Theratechnologies Inc (NASDAQ:THTX), a Canada-based specialty pharmaceutical company, stock fell 0.28% (As on Oct 14, 11:46:00 AM UTC-4, Source: Google Finance) after the company in the third quarter of FY 21 has reported 27% rise in the revenue to $17,852,000. Most of that growth was attributable to strong EGRIFTA SV revenues, which increased 64% over the same quarter last year. The strong third-quarter performance for EGRIFTA SV was related to higher unit sales and a higher selling price and were also supported by stronger new prescriptions, a sign of a return to pre-COVID-19 levels. Sales of Trogarzo were down 7.8% compared to the third quarter of last year. Lower unit sales were somewhat offset by a higher selling price and were the result of lower patient access to hospitals and clinics because of COVID-19, as well as the impact of a new competitor. The company has delivered a net loss of $9,510,000 or $(0.10) per share in the third quarter of Fiscal 2021 and a net loss of $21,824,000 or $(0.24) per share for the nine-month period ended August 31, 2021 compared to a net loss of $6,768,000 or $(0.09) per share in the three-month period ended August 31, 2020 and a net loss of $17,118,000 or $(0.22) per share compared to the nine-month period ended August 31, 2020. As of August 31, 2021, cash, bonds and money market funds amounted to $51,584,000. For the three- and nine-month periods ended August 31, 2021, cash flow generated (used) in operating activities was $(3,133,000) and $(9,077,000) compared to $277,000 and $(7,648,000) for the same periods last year.
Moreover, Adjusted EBITDA, which is a non-GAAP measure, for the three- and nine- month periods ended August 31, 2021 was $(4,648,000) and $(9,085,000) compared to $(3,149,000) and $(5,676,000) in the comparable periods of Fiscal 2020. R&D expenses for the three- and nine-month periods ended August 31, 2021 amounted to $8,296,000 and $19,596,000 compared to $4,183,000 and $11,224,000 in the comparable periods of Fiscal 2020. The increase was largely due to the development of our oncology platform, the preparation of the Phase 3 trial for tesamorelin in the treatment of NASH, the F8 formulation and the multi-dose pen injector, as well as regulatory expenses and increased medical education initiatives in Europe in preparation for the Trogarzo launch.