05:23 PM EDT, 09/17/2024 (MT Newswires) -- Theratechnologies ( THTX ) was last seen down 2.9% in after-hours Nasdaq trading after the Tuesday warned of a risk of a temporary supply disruption for its EGRIFTA SV drug in early 2025.
The biopharmaceutical company said a possible shortage of the drug used to reduce excess abdominal fat in HIV patients comes after its contract manufacturer voluntarily shut the facility making the drug following an inspection by the U.S. Food and Drug Administration, and awaits an FDA review timeline to resume distribution of the product.
The company said it will implement measures to "carefully manage the inventory levels of EGRIFTA SV to meet patient demand" until early January 2025. It estimates the measures will result in a revenue shortfall of about US$1.6 million for its 2024 fiscal year.
"Although this situation will affect revenues in the fourth quarter of 2024, we remain on track to deliver a strong Adjusted EBITDA in the current fiscal year and will be providing more details as part of the release of our third quarter results in October," said chief executive Paul Levesque.
Theratechnologies ( THTX ) were last seen down US$0.04 to US$1.33 after hours. They closed down $0.05 to $1.88 on the Toronto Stock Exchange.