Theralase Technologies Inc - TLTFF STOCK NEWS

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.

Theralase Technologies Inc. (TLTFF) announced that its Phase II study on Bacillus Calmette Guerin (BCG) Unresponsive Non-Muscle Invasive Bladder Cancer has had its interim data accepted for presentation at the American Urology Association (AUA) annual meeting from April 28 to May 1, 2023. The clinical study aims to treat 100-125 patients, using TLD-1433 activated by their TLC-3200 laser system. Interim results show a complete response rate of 53% at 90 days and 28% at 450 days, suggesting PDT could be a viable treatment option with a favorable safety profile.

Theralase Technologies (TSXV: TLT; OTCQB: TLTFF) announced that interim data from its Phase II Non-Muscle Invasive Bladder Cancer (NMIBC) clinical study has been accepted for presentation at the ASCO GU Cancer Symposium in San Francisco, occurring from February 16 to 18, 2023. The poster, titled "A Phase II Clinical Study of Intravesical Photo Dynamic Therapy in Patients with BCG-Unresponsive NMIBC," will be presented on February 17, 2023. This study aims to evaluate the efficacy of TLD-1433, a patented photo dynamic compound.

Theralase Technologies Inc. (TLTFF) announced its unaudited financial results for Q3 2022, showing a 43% year-over-year revenue increase to approximately $813,000.

Notable financial metrics include a gross margin of 52% and a net loss of $4.35 million, influenced heavily by increased research and development expenses. Key operational highlights include ongoing clinical studies and advancements in anti-cancer therapies, including the development of a COVID-19 vaccine. Despite delays due to the pandemic, patient enrollment rates in clinical studies are improving.

Theralase Technologies Inc. (TLTFF) announced a proposal to extend the expiry date of 3,157,059 share purchase warrants from October 3, 2022, to October 3, 2023. These warrants, exercisable at $0.50 per share, were initially issued as part of a private placement in 2018. The extension is pending final acceptance by the TSX Venture Exchange. Theralase specializes in developing light-activated compounds for cancer treatment, emphasizing both efficacy and safety in its formulations.

Theralase Technologies Inc. (TSXV: TLT, OTCQB: TLTFF) has successfully closed a non-brokered private placement, issuing 10,000,000 units at $0.25 each, raising approximately $2,500,000. Each unit comprises one common share and one warrant, exercisable at $0.35 for 24 months. Proceeds will fund GLP Toxicology studies for Rutherrin, advance Phase II NMIBC clinical studies, and general corporate needs. The offering included insider subscriptions of 2,400,000 units worth $600,000, exempt from formal valuation requirements. All securities are subject to a four-month hold period.