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news.Theratechnologies, a Canadian biopharmaceutical company, has reported a net loss of C$10.75 million, or C$0.18 per share, for the first quarter of 2009, compared to a net loss of C$10.86 million, or C$0.20 per share, for the same period of 2008.
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The company reported net revenues of C$2 million for the first quarter of 2009, compared to C$599,000 for the same period of 2008.
Luc Tanguay, senior executive vice president and CFO of Theratechnologies, said: “We ended the first quarter of 2009 with $72 million in liquidities and with expenses trending lower. This is due to the payment received at closing under the agreement with EMD Serono and a decrease in R&D expenses.
“Today, we are able to look to the future of Theratechnologies with confidence, having the funds necessary to finance our business plan without any need to access capital markets.”