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Theralase Technologies Inc. reports company developments as a clinical-stage pharmaceutical developer of energy-activated small molecules for the destruction of cancer, bacteria and viruses. Its updates center on Ruvidar® (TLD-1433), including clinical and regulatory disclosures tied to non-muscle invasive bladder cancer and research into antiviral mechanisms such as HSV-1 inactivation.
Recurring announcements also cover operating and financial results, non-brokered private placements, line-of-credit financing, capital-structure disclosure, governance matters and development collaborations. The company’s news commonly links research progress with funding needs, regulatory pathways, intellectual-property considerations and commercialization risks for its small-molecule drug formulations.
Theralase Technologies Inc. (TLTFF) reported its 1Q2022 financial results, showing a 70% increase in total revenue to $211,662 compared to $124,783 in 2021. Gross margin improved to 43%, while net loss rose to $1,701,489, an 85% increase year-over-year largely due to elevated R&D expenses. The company's Fast Track Designation from the FDA for its Study II allows for frequent communication on trials. Despite setbacks from the COVID-19 pandemic, patient enrollment in clinical studies is progressing, with new anti-cancer indications being explored and COVID-19 vaccine development ongoing.
Theralase Technologies Inc. reported its 2021 financial results, showing a 16% decline in total revenue, which fell to $780,641 compared to $929,122 in 2020. This decrease is attributed to slower economic recovery from COVID-19. However, a notable 15% increase in gross margin to 40% of revenue was achieved, thanks to reduced costs in sales. The net loss decreased 21% to $4,411,061 from $5,598,540 in 2020. Operationally, Theralase is progressing in its Phase II NMIBC clinical study, having treated 35 patients and began preparations for a Break Through Designation submission to the FDA.
Theralase Technologies Inc. (TLTFF) announced an update on its Phase II Non-Muscle Invasive Bladder Cancer (NMIBC) Clinical Study, reporting treatment milestones for 35 patients, adding to the previous 3 from Phase Ib. Preliminary results show a 44.7% complete response rate at 90 days for 38 patients. Optimized treatments indicate improved results with 52.2% CR at 90 days for the optimized group. The study, targeting 100-125 patients, aims to evaluate efficacy and safety of the light-activated therapeutic TLD-1433.
Theralase Technologies Inc. (TLTFF) announced promising progress in developing a Canadian-made SARS-CoV-2 vaccine using its patented Photo Dynamic Compound (PDC), TLD-1433. Initial studies showed TLD-1433 effectively inactivates SARS-CoV-2 by up to 99.99%, supporting further preclinical trials. Collaborative research with the Public Health Agency of Canada aims to explore the vaccine's efficacy in preventing COVID-19 in animals. The findings suggest the potential for TLD-1433 to stimulate protective immune responses, indicating a versatile platform applicable to various enveloped viruses.
Theralase Technologies Inc. has expanded its intellectual property portfolio with a newly granted Indian patent for Metal-Based Coordination Complexes. This patent includes key Photo Dynamic Compounds (PDCs), particularly TLD-1433, which is currently in a Phase II clinical trial for Non-Muscle Invasive Bladder Cancer (NMIBC). The patent offers a competitive edge, enhancing Theralase's market position. The company aims to commercialize its cancer therapies and diversify its applications to include other severe indications, thereby increasing shareholder value.
Theralase Technologies Inc. (TLTFF) released its Q3 2021 financial results, showing a 7% revenue increase due to post-COVID recovery.
Net loss decreased by 34%, attributed to reduced operating expenses and delayed patient enrollment affecting research costs. CEO John Trikola resigned, and Arkady Mandel is now interim CEO. Interim results from the Phase II NMIBC study indicate a 42.4% complete response rate at 90 days, suggesting promising potential. The company is focusing on improving clinical outcomes while enhancing operational processes.
Theralase Technologies Inc. has published its unaudited Q2 2021 financial statements and an accompanying newsletter, highlighting key developments in its Phase II Non-Muscle Invasive Bladder Cancer study. Notably, total revenue surged by 47% year-over-year, primarily due to pandemic-related clinic closures in 2020. The company also reported a 37% decrease in net loss, credited to reduced R&D expenses and lower salaries during the pandemic. Leadership changes include John Trikola taking over as COO and Interim CEO, with Arkady Mandel leading the clinical study. Twelve clinical sites have been launched for patient enrollment.
Theralase Technologies Inc. (TLTFF) announces the departure of CEO Shawn Shirazi, effective August 20, 2021. John Trikola will step in as Interim CEO and COO on August 23, 2021. Trikola brings over 25 years of technology experience, previously serving as president of Gardner Ross Corp, focusing on turnaround projects. He aims to enhance the company’s strategy, particularly in the Cool Laser Therapy division, while maximizing long-term shareholder value. The company specializes in developing light-activated compounds for cancer treatment.
Theralase Technologies Inc. (OTCQB: TLTFF) has announced the opening of a new clinical study site at UChicago Medicine for its pivotal Phase II study targeting non-muscle invasive bladder cancer (NMIBC). The study will treat approximately 100-125 patients unresponsive to BCG therapy. UChicago Medicine received IRB approval and has begun patient enrollment. To date, 23 patients have been treated, including those from an earlier phase. The company aims to submit data for Breakthrough Designation to the FDA after treating the first 25 patients.
Theralase Technologies, a clinical stage pharmaceutical company, released its 2020 audited financials, showing a 4% decline in total revenue to $929,122 due to the pandemic's impact on healthcare purchases. Cost of sales fell by 27%, improving gross margin to 29%. Operating expenses decreased by 21%, resulting in a net loss of $5,598,540, down 24% from 2019. Significant highlights include FDA Fast Track designation for their NMIBC treatment and ongoing COVID-19 research efforts. The company is collaborating with PHAC on a COVID-19 vaccine project.