Why Theratechnologies Shares Are Gaining Today - Theratechnologies (NASDAQ:THTX)

Theratechnologies Inc THTX issued an update on the dose escalation portion of the TH1902 Phase 1 safety study.
18 heavily pretreated patients were enrolled. Two of those patients remain on treatment.
Following the safety observations at 420 mg/m2, the dose of TH1902 was decreased to 300 mg/m2 and was expanded to a total of 6 patients.
No Dose Limiting Toxicities were observed during the first cycle. The dose of 300 mg/m2 was selected to continue the basket part of the study.
Signs of efficacy have been observed in three heavily pretreated patients.
Confirmed partial response in one prostate cancer patient with a 53% overall reduction in target lesions after three cycles of TH1902 at 300 mg/m2 was observed.
Stabilized disease was observed in prostate and endometrial cancer patients with a measurable reduction in target lesion sizes.
The company said that out-licensing development and commercialization rights for TH1902 in Greater China continue.
Q2 Earnings: Theratechnologies reported sales of $19.3 million, +8.3% Y/Y. The company tightened FY22 sales guidance to $79 million - $82 million (compared to the earlier range of $79-$84 million). The adjustments reflect our updated expectations from Europe.
Price Action: THTX shares are up 11.7% at $2.29 during the market session on the last check Thursday.