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Theralase Technologies Inc. (TLTFF) is a clinical stage pharmaceutical company dedicated to developing light and/or radiation activated small molecules for effectively destroying cancers, bacteria, and viruses. Their lead compound, RuvidarTM, has shown promise in inactivating various viruses and increasing efficacy in cancer cell destruction. Recent research has demonstrated RuvidarTM's ability to reverse the charge of BCG, creating a compound, RuBCG, with enhanced cancer cell kill rates. Additionally, Rutherrin® has proven effective in increasing chemotherapy efficacy and reducing multidrug resistance in cancer cells. Theralase is committed to advancing innovative therapies to combat challenging diseases and improve patient outcomes.
Theralase Technologies Inc. (TSXV: TLT, OTCQB: TLTFF) has released its audited annual financial statements for 2022. The company experienced a 46% increase in total revenue to $1.14 million, fueled by recovery from the COVID-19 pandemic. Gross margin rose to 55% of revenue, compared to 40% in 2021. Selling and administrative expenses declined by 17% and 18%, respectively. However, net research and development expenses surged 46% to $4.28 million, resulting in a net loss of $5.24 million for the year. The company continues to progress in its Phase II clinical study for NMIBC treatments, reporting interim data indicating a 54% complete response rate at 90 days. Theralase was also recognized in the 2023 Venture 50™ for its performance in the Clean Technology and Life Sciences sector.
Theralase Technologies Inc. (OTCQB: TLTFF) announced promising interim results from its Phase II clinical study targeting BCG-Unresponsive, Non-Muscle Invasive Bladder Cancer (NMIBC). The study assesses TLD-1433 (Ruvidar™), a ruthenium-based drug activated by a proprietary laser device. Preliminary findings indicate a 53% complete response rate at 90 days, and a 28% rate at 450 days. These results suggest Ruvidar™ could be a viable, safer alternative to current therapies. The study aims to enroll up to 125 patients across 20 sites in Canada and the U.S. CEO Arkady Mandel noted the drug's potential to significantly impact treatment standards.
Theralase Technologies Inc. (TSXV: TLT, OTCQB: TLTFF) has been recognized as one of the top performers in the Clean Technology and Life Sciences category of the TSX Venture Exchange's 2023 Venture 50™. This accolade is awarded based on market capitalization, share price appreciation, and trading volume. Theralase has previously won this recognition in 2015, 2019, and 2020, marking its fourth acknowledgment in eight years. The company highlights its progress in a Phase II clinical study of intravesical Photo Dynamic Therapy for patients with BCG-Unresponsive Non-Muscle Invasive Bladder Cancer, which could offer valuable treatment options.
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