<SEC-DOCUMENT>0001193125-22-261846.txt : 20221013
<SEC-HEADER>0001193125-22-261846.hdr.sgml : 20221013
<ACCEPTANCE-DATETIME>20221013074559
ACCESSION NUMBER:		0001193125-22-261846
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20221013
FILED AS OF DATE:		20221013
DATE AS OF CHANGE:		20221013

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Theratechnologies Inc.
		CENTRAL INDEX KEY:			0001512717
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A8
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35203
		FILM NUMBER:		221308109

	BUSINESS ADDRESS:	
		STREET 1:		2015 PEEL STREET
		STREET 2:		5TH FLOOR
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3A 1T8
		BUSINESS PHONE:		514-336-7800

	MAIL ADDRESS:	
		STREET 1:		2015 PEEL STREET
		STREET 2:		5TH FLOOR
		CITY:			MONTREAL
		STATE:			A8
		ZIP:			H3A 1T8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d412335d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<div style="width:790px"></div>

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C.&nbsp;20549 </B></P> <P STYLE="font-size:11pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:11pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Report of
Foreign Private Issuer </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Rule <FONT STYLE="white-space:nowrap">13a-16</FONT> or
<FONT STYLE="white-space:nowrap">15d-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>under the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>October&nbsp;13, 2022 </B></P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number <FONT STYLE="white-space:nowrap">001-35203</FONT> </B></P>
<P STYLE="font-size:11pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>THERATECHNOLOGIES INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:11pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2015 Peel
Street, Suite 1100 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Montr&eacute;al, Qu&eacute;bec, Canada </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>H3A 1T8 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of
principal executive offices) </B></P> <P STYLE="font-size:11pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form
<FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F:</FONT> </P> <P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Form
<FONT STYLE="white-space:nowrap">20-F&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form</FONT> <FONT STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9746;</FONT> </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by
Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1): </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Note: Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1) only permits the submission in paper of a Form <FONT
STYLE="white-space:nowrap">6-K</FONT> if submitted solely to provide an attached annual report to security holders. </P> <P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check
mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7): </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Note: Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7) only permits the submission in paper of a Form <FONT
STYLE="white-space:nowrap">6-K</FONT> if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or
legally organized (the registrant&#146;s &#147;home country&#148;), or under the rules of the home country exchange on which the registrant&#146;s securities are traded, as long as the report or other document is not a press release, is not required
to be and has not been distributed to the registrant&#146;s security holders, and, if discussing a material event, has already been the subject of a Form <FONT STYLE="white-space:nowrap">6-K</FONT> submission or other Commission filing on EDGAR.
</P> <P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule <FONT STYLE="white-space:nowrap">12g3-2(b)</FONT> under the Securities Exchange Act of 1934. </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Yes&nbsp;&nbsp;&#9744;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with Rule
<FONT STYLE="white-space:nowrap">12g3-2(b):</FONT> <FONT STYLE="white-space:nowrap">82-</FONT><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>. </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>THERATECHNOLOGIES INC. </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="93%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release Dated October&nbsp;13, 2022</TD></TR>
</TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">THERATECHNOLOGIES INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Jocelyn Lafond</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jocelyn Lafond</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">General Counsel</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: October&nbsp;13, 2022 </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d412335dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="right">


<IMG SRC="g412335g66p94.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="99.5%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="top" ROWSPAN="7"> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:1pt" ALIGN="justify">


<IMG SRC="g412335g48g23.jpg" ALT="LOGO">
</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="15"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>THERATECHNOLOGIES REPORTS FINANCIAL RESULTS</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center"><B>FOR THE THIRD QUARTER OF FISCAL 2022 AND PROVIDES BUSINESS UPDATE</B></P>
<P STYLE="font-size:14pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">- Q3 2022 Consolidated Revenue Growth of 17% to
$20.8&nbsp;million</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">- Q3 2022 North American Revenue Growth of
19%&nbsp;&nbsp;&nbsp;</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">- TH1902 Phase 1 basket trial proceeding as
planned</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">- On track to meet FY2022 Revenue Guidance $79 -
$82&nbsp;million</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>Montreal, Canada &#150;
October</B><B><U></U></B><B> 13, 2022 &#150; </B>Theratechnologies Inc. (&#147;Theratechnologies&#148; or the &#147;Company&#148;) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative
therapies, today reported business highlights and financial results for the third quarter of fiscal year 2022, ended August<U></U> 31, 2022. All figures are in U.S. dollars unless otherwise stated.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">&#147;We kicked off the third quarter with many exciting
developments and spent the remaining period focusing on strategic growth, corporate alignment and shareholder outreach. As our top line results show, our efforts are making a difference,&#148; said Paul L&#233;vesque, President and Chief Executive
Officer.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">&#147;In
<FONT STYLE="white-space:nowrap">mid-July,</FONT> we provided an update on the dose escalation portion of the TH1902 Phase 1 study and announced signs of efficacy observed in three heavily <FONT STYLE="white-space:nowrap">pre-treated</FONT>
patients. Our work with the SORT1+ Technology<SUP STYLE="font-size:75%; vertical-align:top">TM</SUP> is getting noticed in the industry and was featured in the journal <I>Pharmaceutics</I>. We continue to believe that our program&#146;s unique
mechanism of action gives it a distinct position as a potential cancer therapy.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">&#147;Our decision to internalize our field force and strengthen our commercial operations in the United States is starting to deliver results, as
evidenced by 19% sales growth in this territory compared to the third quarter of last year; we remain confident we will meet our Fiscal 2022 guidance. Despite the challenging biotech capital markets, and as a testament to our business model, we also
announced that we successfully extended the financial runway through a term loan of up to $100&nbsp;million from Marathon Asset Management. In July, we received the first $40&nbsp;million tranche of the term loan, which allowed us to rapidly retire
more than half of the Company&#146;s convertible notes due in 2023 and strengthened our balance sheet,&#148; concluded Mr.&nbsp;L&eacute;vesque.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Revenue Summary for Third Quarter of Fiscal 2022</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B><I>(in thousands of U.S.
dollars)</I></B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>Three&nbsp;months&nbsp;ended</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>August
31</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>%<BR>change</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>Nine&nbsp;months&nbsp;ended<BR>August&nbsp;31</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt"><B>%<BR>change</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>2022&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>2021&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>2022&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="center"><B>2021&nbsp;&nbsp;</B></P>
<P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:2pt">&nbsp;&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:8pt ;"> <P STYLE="font-size:4pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL"><I>EGRIFTA</I><I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP></I><I>, EGRIFTA SV</I><I><SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP></I> net sales</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;">12,876&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;">11,224&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-RIGHT:1px solid #000000">14.7%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;">35,996&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;">30,256&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-RIGHT:1px solid #000000">19.0%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:10pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL">Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> net sales</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">7,935 &nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">6,628&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">19.7%</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">22,640&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">20,813&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:8pt ;BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">8.8%</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:0pt">&nbsp;</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="padding-bottom:10pt ;BORDER-BOTTOM:1px solid #000000"> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:ARIAL"><B>Revenue</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:10pt ;BORDER-BOTTOM:1px solid #000000"><B>20,811&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:10pt ;BORDER-BOTTOM:1px solid #000000"><B>17,852&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:10pt ;BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>16.6%</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:10pt ;BORDER-BOTTOM:1px solid #000000"><B>58,636&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:10pt ;BORDER-BOTTOM:1px solid #000000"><B>51,069&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="padding-bottom:10pt ;BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><B>14.8%</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="15" VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>RECENT HIGHLIGHTS AND PROGRAM UPDATES</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Pipeline Updates</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>TH1902 Phase 1 Trial Update</B><B>: </B>On July&nbsp;14, the Company issued an update on the dose escalation portion of the TH1902
Phase 1 clinical safety study. TH1902 is Theratechnologies&#146; <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">first-in-human</FONT></FONT> study of its investigational lead peptide drug conjugate (&#147;PDC&#148;) for the
treatment of sortilin-expressing cancers. It has received Fast Track designation from the United States Food and Drug Administration (&#147;FDA&#148;).</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">In this update, we announced that a total of 18 heavily <FONT STYLE="white-space:nowrap">pre-treated</FONT> patients, who received an
average of 8 prior cancer treatments, were enrolled in the dose escalation portion of the study. Following the safety observations at 420 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2 </SUP>including grade 3 neuropathy, grade 4 neutropenia,
grade 3 ocular changes (visual acuity, keratitis and ocular surface dryness) and grade 2 skin toxicities (rash, pruritis and inflammation), the dose of TH1902 was decreased to 300 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2 </SUP>for the
next dose level and was expanded to a total of 6 patients. No Dose Limiting Toxicities were observed during the first cycle, therefore, the dose of 300 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP> was selected for continuation of the
basket part of the study. In addition, the levels of free docetaxel are low, at only 11% of those observed at docetaxel treatment dosage of 75 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP>. Thus far 300 mg/m<SUP
STYLE="font-size:75%; vertical-align:top">2</SUP> appears to be a well-tolerated dose level, which continues to be evaluated in the larger basket portion of the TH1902 study.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">Signs of efficacy have been observed in three
heavily <FONT STYLE="white-space:nowrap">pre-treated</FONT> patients in the dose escalation trial, and recorded results include:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.50em; text-indent:-1.50em; font-size:11pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="font-family:Times New Roman">&#9679;</FONT>&#8194;&#8201;&#8201;Confirmed partial response in one
prostate cancer patient with 53% overall reduction in target lesions after three cycles of TH1902 at 300 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP>, PSA (<I>Prostate-specific Antigen</I>) continued to progress.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.50em; text-indent:-1.50em; font-size:11pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="font-family:Times New Roman">&#9679;</FONT>&#8194;&#8201;&#8201;Stabilized disease observed in a
prostate cancer patient with measurable reduction in target lesion sizes (single digit percentages), including one PSA response. The patient was treated with mixed cycles of TH1902 from 420 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP>
to 300 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP>.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.50em; text-indent:-1.50em; font-size:11pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="font-family:Times New Roman">&#9679;</FONT>&#8194;&#8201;&#8201;Stabilized disease observed in an
endometrial cancer patient with measurable reduction in target lesion sizes (single digit percentages). Notably, the patient received a total of 11 cycles. The dose was escalated&nbsp;from 60
mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP> to 360 mg/m<SUP STYLE="font-size:75%; vertical-align:top">2</SUP>.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">In an effort to optimize and ensure success of this clinical research program, the Company has currently enrolled six active trial
sites across the United States. The plan is to enroll additional sites in the United States, the European Union and Canada.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>TH1902 Study in Pharmaceutics Journal</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">Subsequent to the end of the third quarter, the Company announced the publication of a preclinical study demonstrating the <I>in
vitro </I>and<I> in vivo</I> efficacy of TH1902, an investigational sortilin (SORT1)-targeted peptide-drug conjugate, in inhibiting</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">ovarian cancer and triple-negative breast cancer (&#147;TNBC&#148;) stem-like cells&#146; (&#147;CSCs&#148;) tumor
growth. The study, published as part of the special issue of <I><FONT COLOR="#0563c1"><U>Pharmaceutics</U></FONT></I> &#147;Targeting Drug Resistance and Metastatic Pathways for Cancer Therapy&#148;, reports that TH1902 appears to exert anticancer
activity that is superior to unconjugated docetaxel in preclinical models, in part by circumventing the chemoresistance phenotype that is often responsible for treatment failure and cancer recurrence.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">In the <I>Pharmaceutics </I>paper, researchers
at Theratechnologies and the Molecular Oncology Laboratory at Universit&eacute; du Qu&eacute;bec &agrave; Montr&eacute;al (&#147;UQAM&#148;) described the activity of TH1902 against CSCs and its ability to circumvent some of the known resistance
phenotypes associated with CSCs. Their findings suggest that TH1902 targets cancer cells overexpressing the sortilin receptor &#150; an effect that is absent in healthy cells. Additionally, at doses equivalent to docetaxel, single-agent TH1902
exhibited superior efficacy against breast and ovarian CSCs, compared to docetaxel alone. Finally, when combined with carboplatin in an ovarian tumor model, the efficacy of TH1902 was also superior to that of paclitaxel- or docetaxel-carboplatin
combinations. In TNBC and ovarian CSCs animal models, TH1902 decreased tumor growth by 80%, compared to roughly 35% in docetaxel-treated mouse models.</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> Lifecycle Management</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">On October&nbsp;3, the Company received notice of approval
from the FDA for the <FONT STYLE="white-space:nowrap">30-Second</FONT> Intravenous (&#147;IV&#148;) Push method of administration of Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">The FDA originally approved Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> a novel, long-acting monoclonal antibody, in March 2018 to be administered intravenously as a single loading dose followed by a <FONT STYLE="white-space:nowrap">15-minute</FONT> maintenance dose,
every two weeks. Following this approval, the maintenance dose can be administered as an undiluted IV push over 30 seconds.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">The Company believes this simplified method of administration will improve patient compliance and will provide a broader number of
access points for patients.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">The Company is
also conducting a study assessing an intramuscular method of administration of Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>. This study is now fully enrolled, with the last patient visit scheduled for November 2022. If
approved, we believe that this new method of administration will give patients an even more convenient form of administration, and further potentially improving access and compliance to the regimen.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> Data at AIDS 2022 Shows Potential for Improved Treatment Regimens</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">On July&nbsp;28, Theratechnologies announced data from two
poster presentations at the 24th International AIDS Conference (&#147;AIDS 2022&#148;) held in Montreal that provided key understandings on the potential of Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> to evolve treatment
paradigms for heavily treatment-experienced HIV populations on complex regimens.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">In summary, the poster presentation entitled <I>&#147;</I><B><I>Ibalizumab long-term efficacy is not impacted by partially active
antiretrovirals&#148; </I></B>demonstrated that in<B><I> </I></B>clinical trial patients, long-term viral suppression is not influenced by partially active agents; and</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">the poster presentation entitled <B><I>&#147;Pharmacokinetic modeling and simulation of intramuscular and
subcutaneous ibalizumab delivery&#148; </I></B>revealed that<B><I> </I></B>Predictive pharmacokinetic modelling shows that new methods of administration, intramuscular and subcutaneous, could be maintained through concentrations greater than 0.3
&micro;g/mL, which has been previously correlated with efficacy with the intravenous infusion.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">The two AIDS 2022 scientific presentations followed on data presented at the Italian Conference on AIDS and Antiviral Research (ICAR)
entitled <B><I>Evaluation of the in vitro combinatorial activity of Ibalizumab and <FONT STYLE="white-space:nowrap">HIV-1</FONT> antivirals</I></B>, which was supported by an independent grant. In vitro combination activity between Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and nine other ARVs, seven commercially available and two investigational, demonstrated the additive or synergistic effects seen between each pairing. Of note, synergistic activities were seen
with dolutegravir, etravirine, tenofovir alafenamide and lenacapavir, a long-acting investigational ARV.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>TH1902 China <FONT STYLE="white-space:nowrap">Out-licensing</FONT> and Partnership Strategy</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">Discussions around
<FONT STYLE="white-space:nowrap">out-licensing</FONT> the development and commercialization rights for TH1902 in Greater China continue. The Company is optimistic about the prospects as the TH1902 basket trial continues to enroll patients.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>EGRIFTA
SV<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> Human Factors Study</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">As previously announced, the FDA requested that the Company carry out a Human Factors Study (&#147;HFS&#148;) to ensure that patients
are administering <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> in the appropriate manner. The study has been initiated and is progressing as planned.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>F8 sBLA Filing</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">The Company had planned on filing a supplemental biologic
licence application (&#147;sBLA&#148;) for its F8 formulation of tesamorelin by the end of the first quarter of calendar 2022. As the FDA asked us to do a HFS for <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>, we have
proactively decided to do one also for the F8 formulation. This study has been initiated and will be completed shortly after the <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> HFS study.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">Furthermore, given the current uncertainty
around the supply of Bacteriostatic Water For Injection (&#147;BWFI&#148;), we have signed an agreement with a contract manufacturer to produce our own supply. We believe this proactive step will ensure we have access to BWFI upon launch of the F8
formulation, if approved. With these decisions made, we are currently on track to deliver the filing of this new formulation in the fourth quarter of 2023, with an approval and launch expected around the first quarter of 2024.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>NASH</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">We continue to have discussions with potential NASH partners
and are encouraged to see renewed NASH interest with recent industry announcements. However, our NASH program is still on pause pending resolution on the F8 formulation and finding of a partner with resources and
capabilities.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>Corporate and Commercial Updates</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>$100&nbsp;million Credit Agreement with Marathon Asset Management and Closing of first tranche of $40&nbsp;million</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">On July&nbsp;13, 2022, the Company announced it received a
binding commitment with respect to a credit agreement (the &#147;Credit Agreement&#148;) for a <FONT STYLE="white-space:nowrap">non-dilutive</FONT> term loan with an affiliate of Marathon Asset Management for up to $100&nbsp;million.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">On July&nbsp;27, 2022, the Company announced
that it received funding of $40&nbsp;million under the terms of this Credit Agreement. A portion of the net proceeds from this amount was used to buy back and cancel $30&nbsp;million principal amount of convertible notes due June&nbsp;30, 2023,
through private agreements with certain noteholders, while the remainder was allocated to working capital. All amounts drawn under the Credit Agreement bear interest at SOFR plus 9.5%.</P>
<P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL"><B>2022 Revenue Guidance</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2.00em; font-size:11pt; font-family:ARIAL" ALIGN="justify">Fiscal year 2022 revenue guidance is on track to be in the
range of $79 million - $82&nbsp;million, or growth of the commercial portfolio to be in the range of 13% and 17%, as compared to the 2021 fiscal year.</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Third Quarter Fiscal 2022 Financial Results</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The financial results presented in this press release are taken from the Company&#146;s Management&#146;s Discussion and Analysis (MD&amp;A) and our
unaudited consolidated financial statements as at&nbsp;August&nbsp;31, 2022 (Unaudited Financial Statements) which have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the&nbsp;International
Accounting Standards Board (IASB). The MD&amp;A and the Unaudited Financial Statements can be found at&nbsp;<FONT COLOR="#0563c1">www.sedar.com</FONT>, on EDGAR at&nbsp;<FONT COLOR="#0563c1">www.sec.gov</FONT>&nbsp;and
at&nbsp;<FONT COLOR="#0563c1">www.theratech.com.</FONT> Unless specified otherwise and all capitalized terms have the meaning ascribed thereto in our MD&amp;A.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Revenue</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">For the three- and nine-month periods ended August&nbsp;31, 2022, consolidated revenue was $20,811,000 and $58,636,000, compared to $17,852,000 and
$51,069,000 for the same periods ended August&nbsp;31, 2021, representing a year-over-year increase of 16.6% and 14.8%, respectively.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">For the third quarter of fiscal 2022, net sales of <I>EGRIFTA SV</I><I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP></I> were $12,876,000
compared to $11,224,000 in the third quarter of fiscal 2021, representing an increase of 14.7% year-over-year.&nbsp;Net sales for the nine-month period ended August&nbsp;31, 2022, were $35,996,000 compared to $30,256,000 in the same period in
2021.&nbsp;Higher<I> EGRIFTA SV</I><I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP></I> sales are the result of increased unit sales and a higher net selling price per unit.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>
net sales in the third quarter of fiscal 2022 amounted to $7,935,000 compared to $6,628,000 for the same quarter of 2021, representing an increase of 19.7% year-over-year.&nbsp;For the nine-month period ended August&nbsp;31, 2022, Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> net sales were $22,640,000 compared to $20,813,000 in the same period in 2021.&nbsp;Higher sales of Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> were a result of a stronger
performance in the United States, where we recorded 26.0% growth compared to the same quarter of last year, and were hampered by lower sales in Europe, as a result of a weaker overall pricing
environment.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Cost of Sales</B></P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">For the three-month period ended August&nbsp;31, 2022, cost of sales decreased to $5,292,000 from $5,504,000 in the same period in fiscal 2021. The
decrease is mostly related to the end of the amortization of the Other Asset.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">For the nine-months ended August&nbsp;31, 2022, cost of sales increased to $20,370,000 from $16,849,000, this increase is mostly related to the increase
in revenues. The increase is also due to a charge, in the second quarter of 2022, arising from the <FONT STYLE="white-space:nowrap">non-production</FONT> of scheduled batches of <I>EGRIFTA
SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> that were cancelled due to the planned transition to the F8 formulation of tesamorelin.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Cost of goods sold was $5,292,000 and $17,929,000 in the three- and nine-month periods of 2022 compared to $4,283,000 and $13,187,000 for the same
periods in 2021.&nbsp;The increase in cost of goods sold was mainly due to higher unit sales of both <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and
Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>R&amp;D
Expenses</B></P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">R&amp;D expenses in the three- and nine-month periods ended
August&nbsp;31, 2022, amounted to $8,425,000 and $27,484,000 compared to $8,296,000 and $19,596,000 in the comparable periods of fiscal 2021.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The increases in both periods were largely due to higher spending related to the ongoing Phase 1 trial of TH1902. In 2022, we have also initiated
important studies related to medical education and <FONT STYLE="white-space:nowrap">follow-up</FONT> studies in the HIV field. Increased spending in R&amp;D is also related to the <FONT STYLE="white-space:nowrap">on-going</FONT> trial evaluating the
intra-muscular form of administration of Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>. The increase is also explained by severance costs related to our decision to exit the European market for Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP>.</P> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Selling
Expenses</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Selling expenses increased to $8,404,000 and $31,582,000 for the
three- and nine-month periods ended August&nbsp;31, 2022, compared to $7,657,000 and $20,716,000 for the same periods last year.&nbsp;The increase is due in part to <FONT STYLE="white-space:nowrap">one-time</FONT> costs related to setting up of our
internal field force in the United States, as well as spending on new initiatives implemented in 2022 to increase awareness of our products on the North American market. The increase is also explained by severance costs related to our decision to
exit the European market for Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The amortization of the intangible asset value for the <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> commercialization rights is also included in selling expenses. As such, we recorded expenses of $642,000 and $8,539,000 for the three- and nine-month periods ended August&nbsp;31, 2022, compared
to $795,000 and $2,745,000 in 2021. The increase in the nine-month period ended August&nbsp;31, 2022, is related to the accelerated amortization of the Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> commercialization rights for
the European territory following our decision in the second quarter of 2022 to cease commercialization activities in that territory.</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="10%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top"> <P ALIGN="justify" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:ARIAL; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>General and Administrative Expenses</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">General and administrative expenses in the three- and nine-month periods ended August&nbsp;31, 2022, amounted to $4,209,000 and $13,400,000 compared to
$3,633,000 and $11,079,000 reported in the comparable periods of fiscal 2021. The increase in General and Administrative expenses is largely due to increased overall business activities in 2022 compared to 2021, as well as key hires in North America
to support the implementation and management of our internal field force in the United States.&nbsp;General and administrative expenses for Q3 of 2022 also include severance costs and fees associated to our realignment in Europe.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Net Finance Costs</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Net finance costs for the three- and nine-month periods ended August&nbsp;31,
2022, were $1,879,000 and $4,808,000 compared to $2,254,000 and $4,609,000 for the comparable periods of 2021. Net finance costs in the third quarter of 2022 and 2021 included interest of $554,000 and $847,000 respectively ($2,189,000 and $2,482,000
in the corresponding nine-months periods, respectively) on the senior convertible notes issued in June 2018, as well $490,000 interest on our new term loan. (Please refer to note 7 of the Interim Consolidated Financial Statements).</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Net finance costs for the three- and nine-month periods ended
August&nbsp;31, 2022, also included accretion expense of $456,000 and $1,517,000, compared to $612,000 and $1,801,000 for the comparable periods in 2021.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Net Loss</B></P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Given the increase in revenue and the smaller increase in expenses in the third quarter of 2022, net loss improved to $7,549,000 from $9,510,000 in the
third quarter of 2021. During the nine-month period ended August&nbsp;31, 2022, net loss increased to $39,308,000 from $21,824,000 in the corresponding period of 2021, mostly due to the accelerated amortization of the Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> commercialization rights for the European Territory in the second quarter of 2022 of $6,356,000. Net loss in the third quarter of 2022 was also impacted by severance costs and fees related to our
decision to exit the European market for Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> of approximately $900,000. Net loss for the nine-month period ended August&nbsp;31, 2022 was further impacted by a charge, in the second
quarter of 2022, arising from the <FONT STYLE="white-space:nowrap">non-production</FONT> of scheduled batches of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> that were cancelled due to the planned transition to the F8
formulation of tesamorelin.</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt" align="left">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Liquidity and Financial Position</B></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">We ended the third quarter of fiscal 2022 with $36,462,000 in cash, bonds and
money market funds. The Company believes that its cash position and future operating cash flows will be sufficient to finance its operations for at least the next <FONT STYLE="white-space:nowrap">12-months</FONT> from the consolidated statement of
financial position date. (See Note&nbsp;1c) to the Interim Financial Statements).</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">For the three-month period ended August&nbsp;31, 2022, cash flows used by operating
activities were $4,372,000 compared to $4,554,000 in the same period of fiscal 2021. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">In the third quarter of fiscal 2022, changes
in operating assets and liabilities had a positive impact on cash flow of $3,176,000, as compared to $1,500,000 in 2021. These changes were mostly attributable to positive impacts from lower accounts receivable ($1,059,000), inventories ($1,536,000)
and prepaid expenses ($1,135,000) and were offset by lower accounts payables and accrued liabilities ($1,333,000). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Our financial
position was also positively impacted by the net proceeds from the first tranche of the term loan facility ($36,892,000, including deferred financing costs), which were offset by funds used to repurchase $30,000,000 principal amount of convertible
notes outstanding ($28,746,000), as well as by the interest paid on the convertible notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL"><B>Conference Call Details </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">The conference call will be held at 8:30 a.m. (ET) on October<U></U>&nbsp;13, 2022 to discuss the results and recent business updates.
The call will be hosted by Paul L&eacute;vesque, President and Chief Executive Officer. Joining Mr.<U></U> L&eacute;vesque on the call will be other members of the management team, including Chief Financial Officer Philippe Dubuc and Chief Medical
Officer Christian Marsolais, who will be available to answer questions from participants following prepared remarks. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Participants
are encouraged to join the call at least ten minutes in advance to secure access. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Conference call
<FONT STYLE="white-space:nowrap">dial-in</FONT> and replay information is below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="78%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:ARIAL; font-size:11pt" ALIGN="center">


<TR>

<TD WIDTH="77%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER:1px solid #000000; padding-left:8pt; padding-right:2pt" BGCOLOR="#b2b2b2"> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B></B>CONFERENCE CALL INFORMATION<B></B></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Conference Call
Date:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">October&nbsp;13,&nbsp;2022</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Conference Call
Time:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">8:30 AM ET</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">North America <FONT
STYLE="white-space:nowrap">Dial-in:</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">1-</FONT> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">877-513-4119</FONT></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">International <FONT
STYLE="white-space:nowrap">Dial-in:</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">1-</FONT> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">412-902-6615</FONT></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Access
Code:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">0675980</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="bottom" COLSPAN="3" STYLE="BORDER-LEFT:1px solid #000000; BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt; padding-right:2pt" BGCOLOR="#b2b2b2">
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B></B>CONFERENCE CALL REPLAY<B></B></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">North America <FONT
STYLE="white-space:nowrap">Dial-in:</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">1-</FONT> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">877-344-7529</FONT></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">International <FONT
STYLE="white-space:nowrap">Dial-in:</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT STYLE="white-space:nowrap">1-</FONT> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">412-317-0088</FONT></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Replay Access
Code:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">1261932</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:11pt">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8pt"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:11pt; font-family:ARIAL">Replay End
Date</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000">October&nbsp;20, 2022</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">The live conference call will be accessible via webcast at: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><U>https://edge.media-server.com/mmc/p/69eduxxu</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>About Theratechnologies </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Theratechnologies (TSX: TH) (NASDAQ: THTX) is a biopharmaceutical company focused on the development and commercialization of
innovative therapies addressing unmet medical needs. Further information about Theratechnologies is available on the Company&#146;s website at <U>www.theratech.com</U>, on SEDAR at
<FONT STYLE="font-family:ARIAL; font-size:11pt" COLOR="#0000ff"><U>www.sedar.com</U></FONT><FONT STYLE="font-family:ARIAL"> and on EDGAR at <U>www.sec.gov</U> </FONT></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B>Forward-Looking Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">This press release contains forward-looking statements and forward-looking information, or, collectively, forward-looking statements,
within the meaning of applicable securities laws, that are based on our management&#146;s beliefs and assumptions and on information currently available to our management. You can identify forward-looking statements by terms such as &#147;may&#148;,
&#147;will&#148;, &#147;should&#148;, &#147;could&#148;, &#147;promising&#148;, &#147;would&#148;, &#147;outlook&#148;, &#147;believe&#148;, &#147;plan&#148;, &#147;envisage&#148;, &#147;anticipate&#148;, &#147;expect&#148; and &#147;estimate&#148;,
or the negatives of these terms, or variations of them. The forward-looking statements contained in this press release include, but are not limited to, statements regarding our forecasted revenues for the 2022 full fiscal year, the conduct of our
clinical trials with TH1902, the availability to us of the whole amount of $100&nbsp;million under the terms of the Credit Agreement, our ability to successfully complete the HFS for both <I>EGRIFTA
SV<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and the F8 formulation, the timelines associated with the filing of an sBLA with the FDA for the F8 formulation and the launch thereof, our discussions with potential partners in NASH and
in Greater China for our oncology platform, and the benefits to be derived from the approval of the IV push method of administration of Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>. </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Although the forward-looking information contained in this press release is based upon what the Company believes are reasonable
assumptions in light of the information currently available, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions made in preparing the
forward-looking statements include that: sales of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> in the United States will increase over time; the
Company&#146;s commercial practices in the United States will not be found to be in violation of applicable laws; the long-term use of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> will not change their respective current safety profile; no recall or market withdrawal of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> will occur; no laws, regulation, order, decree or judgment will be passed or issued by a governmental body negatively affecting the marketing, promotion or sale of <I>EGRIFTA SV</I><SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> in the United States; continuous supply of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and
Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> will be available; the Company&#146;s relations with third-party suppliers of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> will be conflict-free and such third-party suppliers will have the capacity to manufacture and supply <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> to meet market demand on a timely basis; no biosimilar version of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> will be approved by the FDA; the Company&#146;s
intellectual property will prevent companies from commercializing biosimilar versions of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> in the United States; the Company will meet all conditions under the Credit
Agreement to draw down all amounts thereunder; the Company will succeed in finding a commercial partner in Greater China for its oncology platform and for its NASH program; the timelines associated with the filing of an sBLA with the FDA for the F8
formulation and the launch thereof will be met; the Company will be able to recruit patients for its clinical trial using TH1902; no material manufacturing issues will be encountered in connection with the manufacture of TH1902; results observed and
obtained from the Phase 1 clinical trial using TH1902 will be at least as good as those observed in preclinical studies and will allow the pursuit of this clinical study; the market will accept the new method of administration of Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP>; and the Company&#146;s business plan will not be substantially modified. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Forward-looking information assumptions are subject to a number of risks and
uncertainties, many of which are beyond Theratechnologies&#146; control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but
are not limited to, those related to or arising from: the Company&#146;s ability and capacity to grow the sales of <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and
Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> successfully in the United States; the Company&#146;s capacity to meet supply and demand for its products; the market acceptance of <I>EGRIFTA</I> <I>SV</I><SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP><SUP STYLE="font-size:75%; vertical-align:top"> </SUP>and Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> in the United States, including the IV push method of administration of
Trogarzo<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP>; the continuation of the Company&#146;s collaborations and other significant agreements with its existing commercial partners and third-party suppliers and its ability to establish
and maintain additional collaboration agreements; the Company&#146;s success in continuing to seek and maintain reimbursements for <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and Trogarzo<SUP
STYLE="font-size:75%; vertical-align:top">&reg;</SUP> by third-party payors in the United States; the success and pricing of other competing drugs or therapies that are or may become available in the marketplace; the Company&#146;s ability to
protect and maintain its intellectual property rights in <I>EGRIFTA SV</I><SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and tesamorelin; events that could disrupt the Company&#146;s ability to successfully meet the timelines set forth
herein; the discovery of a cure for HIV; the Company&#146;s failure to meet the terms and conditions set forth in the Credit Agreement resulting in an event of default and preventing the Company from accessing the full amount of the term loan;
inconclusive results from the conduct of the Company&#146;s Phase 1 clinical trial using TH1902; the inability of the Company to enter into a partnership agreement with a third party for its NASH program or for its oncology program in the territory
of Greater China; the Company&#146;s expectations regarding its financial performance, including revenues, expenses, gross margins, profitability, liquidity, capital expenditures and income taxes; and the Company&#146;s estimates regarding its
capital requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">We refer current and potential investors to the &#147;Risk Factors&#148; section of our Annual Information
Form dated February&nbsp;23, 2022, available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov as an exhibit to our report on Form <FONT STYLE="white-space:nowrap">40-F</FONT> dated February&nbsp;24, 2022, under Theratechnologies&#146; 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 statements reflect current expectations regarding future events and speak
only as of the date of this press release and represent our expectations as of that date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">We undertake 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. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Investor inquiries: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Elif McDonald </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Senior Director, Investor Relations </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><U>ir@theratech.com</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-438-315-8563</FONT></FONT></FONT>
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Media inquiries: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Julie Schneiderman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify">Senior Director, Communications&nbsp;&amp; Corporate Affairs </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><U>communications@theratech.com</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:11%; font-size:11pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-514-336-7800</FONT></FONT></FONT>
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right">10 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g412335g48g23.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g412335g48g23.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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MJ /9* "@ H Y_P :>%+7QEX9N=)N&\MV^>&8#F*0?=;_ #VS0!YY;_$OQ#X
MCCTOQ]H=S/'%\D>JV>'28=B<X&?Q!]J ,'PC\6/"ND^+?%NJWEQ<);ZE.DEN
M! 2S  YR!TZT :U_\6]5\;"71/ >@W;RSCRWOK@!5A4\$X&0/J3^% 'H/P_\
M%P>"/#B:>L@GNI&\VYFQC>Y_I0!U5 !0 4 ->1(E#2.J D %CCD\ 4 )+%'-
M&T<L:O&PP589!_"@#"N/"'A% ]U<^'](4(-S2/:Q@ >I)% &=9?$+P%!.NF6
M6NZ;"0=JQQD(F?0'&W]: .P5@RAE((/(([T +0 4 % 'DOQHDEOM2\'^'-[)
M:ZEJ*B8J<$@,H _\?S^% 'K*J$4*HP , 4 >-?$B6^\=^/K'X?:;=M!91(+C
M49$[#J ?H",>[>U '1'X(^!?[(^P_P!E-YFS'VGSF\W/][KC\,8H SOA+JM_
M8:EK?@G4K@W#:/+MMY6/+1DG _2@#U6@ H * .'^)OA&[\2Z-;7>DL%UK2IA
M=6>>C,.=OXX'X@4 <1+\<]<CM#IQ\$WB>(2-@C(;9O\ 7;C=CV_6@#I_A3X.
MU/1H=0\0>(^=>U>3S)0<9C7J%]CDYP/8=J /1G=8XV=SM51DD]A0!X]\)]_B
M#QWXL\5;&6VEG\J'/&<9_H: /8Z "@ H * "@ H * (H(K>#<MO'''DEF" #
M)/<XH EH * "@#B?B=XSF\'>&E>PC$NJWL@M[1",X<_Q8[X_GB@#C-/^">J:
MS MWXR\7ZE/>2C<T-O+\L9/;<V0?P % '*_#WX4Z7XM_MP7^J:G"=/OGMHQ#
M*HRH[G*GF@#9\3?L_?9M/>Y\/:S>3S1#<;:[8'S0.P90,'\* .Q^#=CX:C\.
MS7N@QW$4\K;+R*XEWM'(O44 >DT % !0!Y+\7T\KQ9X!OI1_HD.J*LA/0$LA
M&?P4T >M4 >7>!MGA_XI>,=!G81M>S+J%J#QYBMDMCZ9 _"@#U&@#Q_P!*L7
MQE\96U@0;)G5G"?=5_FS^M 'L% !0 4 87B[PK9>,- DTF]=XE9E=)8\;HV!
MR"/\]Z -F"(PV\<1D>4HH4N^-S8'4X[T </\1?A])XN%GJ6E7YT[7=/R;:X!
M(!'7:2.1SW]SQS0!P\L7QYN(CI;"U2,C8;U7@!(]<YR/P7- 'H7PZ\!0>!=%
M>%I_M.H7+>9<SX^\WH/:@#LJ "@ H K:CJ%II.G3W]].L%K;H7DD;HH% 'EC
M?%KQ!XEE>/P%X/GOX4.#>7A\N,GTQD#_ ,>S[4 ;/PU\7^)/$6HZ]IWB:SM+
M2[TR2-#';@\$YR"=S ]!TH ]")P"<$X["@#GO"GC/3/&$=ZVGI/$]G,898YU
M"L".^ 3Q0!T5 !0 4 >2_&J2;4;OPIX55V2#5[\"8@XRJE1C_P >S^% 'J5C
M8VNFV4-E90)!;0J$CC08"@4 >>?#[_DI7Q!_Z^HOY-0!Z70!X_\ #QOL?QB\
M;V47^I>4.%'13EJ /8* "@ H \X^+NAWESIFF>(]-C\V\T"Y%WY0ZN@(+ ?D
M#^!H ZKPKXNT?QCI*7^DW2R @>9$2!)$?1AV_D: .2^'W_)1_B!_U]Q?R:@#
ML/$_BG2O"6CRZCJERD2JIV1D_-(W95'>@#@_@UHU](-7\8:G&8[C6I=\:$8.
MS)(/XYH ]6H * "@!" 001D'M0!YEK/P5TF?56U;PYJEYX=OV)):T/R9/7"Y
M!'T! ]J ,2T^$WCK3+Z]N+#Q\(WO6#7$WD$/(1T)Y//XT :.F_ VRDU2/4_%
M.O7NOW2$-MF.U"?0Y))'MD4 >K1HD4:QQJ%11@*!@ 4 .H Y[QEXFD\)Z%_:
M46FRZ@WF!/)B.#]TG/0^GZT >:_\+\OO^A#U#_OZW_QN@ _X7Y??]"'J'_?U
MO_C= !_POR^_Z$/4/^_K?_&Z #_A?E]_T(>H?]_6_P#C= !_POR^_P"A#U#_
M +^M_P#&Z .W\ ^/)_&T=XTVA7&E_9R !,Q._/IE10!VE !0 4 % $5Q<P6D
M)EN9HX8AU>1@H'XF@"&QU73M3\S[!?VUWY?#^1,K[?K@\4 6Z "@ H * "@#
MC?B5XR;P9X8-Q:Q^;J5TXM[./&<R'N1W Z_D.] '(Z5\&9]=CCU'X@:Y?:G?
MN-QMEFVQQ9[9_P#B<#ZT 3_";2+/0?&GCC2]/C,=I;7$21J6+$##=SS0!ZP1
MD$9(^E 'F7PNUS59?$/BGP]J]_->S:?=$QR3-DA"2,?3B@#TZ@ H * /)/BZ
MGE^,? %Y/Q8Q:D%E)^Z"60C/X T >MT >:?#X?\ %R/B ?\ I[B_DU 'I= '
MC?PUD&J?%OQIJEL=UIYH17'1CEJ /9* "@ H P/&7A:U\8>&;K2+D[#(-T4H
MZQR#[K#\?TS0!YUI7Q$\3>!(5TSX@Z'=R6T/[N/5K9?,5P.F[L?KD'U&: ,G
MP=\4?"6E>,/%^IWNI/%;:A<1R6W^CR$N #G@#CKWH T-9^*FL^-(I='^'VAW
MDWG?NY-0FCVI&#P<=A]2?PH ]!\ >#8/!/AJ+3D?S;ESYES-C[[GK^':@#J:
M "@!DTT5M"TT\J11(,L[L% 'N30!A1^._"4MP+>/Q-I;2DX"B[3D^G6@#>(2
M1,$!D8=.H(H RW\+^'I)?-?0M.:3KN:U0G\\4 27FJZ+X?M@+R^LM/A4?*))
M%B ^@.* *V@^+M"\327*:+J"7GV8@2-&IVC/N1@_A0!MT !.!DT >&:II^H?
M&?QM>V27TMGX6T>3RI-AYFD[X'3/!Y/3'O0!U#? ?P&;+R!87"R8QYXNGWY]
M<9V_I0!@Z1?:C\&M<_L?Q!J3WGA2ZBDDL;EQEX70;C'CMD<8Z$XQCD4 0Q_\
M+#^+/^GV6HGPSX;<D0A&/FRKG[QVX)_,#TSUH U=._9^\-12"?6+_4-5N#RY
MDEV*Q_#YO_'J /1=#\-:+X:MC;Z-IL%E&WWO+7EOJ>I_&@#5H @O6*V%PPZB
M-B/RH \R^ J!O!-[<G_6S:A*7/Y?XT >J4 >5_'ZT2[\ VH; 8:C$%;'3(8?
MUH ],L;2&PT^WM+9 D$$:QHHZ!0, 4 6* "@ H CGC\VWDC_ +RE?S% 'S_X
M6UKQW\/X=1T>S\"7NH6QO))$F\N0 @G'&%.1@"@#?_X6E\1/^B97G_?,O_Q-
M '.>-/$OC_QGHD6F3?#V_M5CN$GWI%(Q)7/&-OO0!T0^*/Q$  _X5E><?[,O
M_P 30 O_  M+XB?]$RO/^^9?_B: .T\">*/$/B1+LZ]X:FT4PD",2!AYG_?0
M% '8T % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 9NM:]I?AVQ6]
MU>\2TMVD6,.^<;B< <4 :*L'4,I!4C(([T 9^N:[IGAS2Y=2U:[2VM8^K-W/
M8 =2?84 >:Q_M$>$'O1"UKJ4<.['GM"NWZX#9Q^% 'J6GZA::K8PWMC<)<6T
MR[DD0Y!% %F@ H * /(OC&OVCQ1X#LY_^/&;4AYH/W2=R 9_ M0!Z[0!XGXA
MMH_B=\9(=#+&70]!CW704_*\F>5_/ _X": /7CHNEG3O[/\ [.MOL>W9Y/E+
MLQZ8H \L^%1;P]XZ\5>$4D9K&WF\RV4G.W.>/;@4 >PT % !0!S'CSP?!XU\
M-R:<TOD74;"6UG'6*0=#].Q^M 'FTMW\<Q:'0_[.LV8CR_[31D#8_O;MV ??
M;G\: .[^&O@)/ F@O!+.+G4;I_-NIAT+?W1GG ]_4F@#LW8I&S!2Q SM'4^U
M 'EGPJT/5_\ A(O$WB76[&6SN;ZY*QQ3*5(4$\C/;G% 'JM !0 4 <OXWUW7
M_#^FVUYH.A-K#^=B>!,[A'@\C'?..QH YW2?C=X7NI_LFL)=Z%>KPT5["0 ?
MJ/Z@4 =[IFL:;K-O]HTR_MKR'^_!*' ^N.E %V@ H * "@ H * ,[5]!TG7K
M;[/JVG6][%V$T8;'T/4?A0!YUJ7P+TB.Y^V^%M6O_#]X.AAE9T_4AO\ QZ@#
M.NM>^(WP\C_XG>H:'K5BG0SW2V\[+[;L9/X-0!VW@'XBZ=X_M+B2SM+BVEMB
M!*DNTC)]"#S^0H [&@ H * ,[6==TKP]8F]U>_AL[<' >5L9/H!U)]A0!YU/
M\<K"^NVLO"GA_4]>N1T\N/RT^N<$@?4"@".73?BWXO3-UJ%EX5LV_P"65OEY
ML>[#//T8?2@"UHOP,\-6<PO-;GNM=OB=SR74A"$^NT')_$F@#TBRL+/3;9;:
MQM8;:!>D<*!%'X"@"Q0 4 % ',>./ ^G>/-&CT[4)IX!%)YL<D) *M@CD$'(
MYZ4 <99>%_B9X(MQ'H>KZ=KUA'TL[F$0N1[$=_JU $R?&J+2;I+/QCX:U'0I
MVX\PKYL1]P< D?0&@#T#1?$>C>(K47&D:E;WD>,GRWR5^HZC\: -2@ H * "
M@ H * .5\4^,?!FDV[VOB'4K%U(^:V<"9C]4 )_,4 >#:L_AGQ#JQE^'GA/7
M4OE;Y;FQE,$8/KC#8'_?- 'M/PSM?'-II<R^-+A)7R/(4LK2*.^XJ.?S- '=
M4 % !0!RGCOQ1JGA?2[:71]"EUB[N9O)6&/=\O!.XX!XX]OK0!Q,VE_%GQQ;
M-;ZK+IOAW391\\:1B61A]"6_F* ':-^SQX9LI!+JE]>:DX.2N1"A_!>?_'J
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M'Q'XBOHK[X@^)I+V-&#?8H'.P^W0 ?\  1^- 'L-K:P65K%;6L*0P1*%1$&
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!V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g412335g66p94.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g412335g66p94.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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M=E<JV?BBQO/"YU\!TM%C9V##YAM)!'Z4Y4W&?()235SF!\7M';[MA>GZ*O\
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F#"@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H _]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
