Mr. Paul Levesque reports

THERATECHNOLOGIES ANNOUNCES OPERATIONAL UPDATE

Theratechnologies Inc. has made further changes to its operations that will see a tapering of R&D (research and development) activities, which necessitates a reduction of up to 25 positions. The company expects to realize recurring yearly savings of approximately $3.5-million (U.S.) resulting from this reorganization and will record a restructuring charge of approximately $1.5-million (U.S.) in its fourth quarter of 2023.

"The decision announced today was difficult to make, but it is aligned with our goal to build a profitable organization and deliver returns to our shareholders," said Paul Levesque, president and chief executive officer, Theratechnologies. "We sincerely appreciate the contributions of those impacted, which indeed were instrumental in making Theratechnologies a better organization."

The company is committed to delivering on part 3 of the phase 1 clinical trial in advanced ovarian cancer for sudocetaxel zendusortide. All future clinical research activities in oncology and NASH (non-alcoholic steatohepatitis) will be made through partnership deals. With the completion of major life cycle management projects in HIV, the company's medical capabilities remain key to conveying the science behind its products, and achieving business growth from organic and inorganic opportunities.

About Theratechnologies Inc.

Theratechnologies is a biopharmaceutical company focused on the development and commercialization of innovative therapies addressing unmet medical needs.

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