Theralase Technologies Inc Stock Price, News & Analysis

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.

Theralase Technologies has released its Quarterly Newsletter detailing progress in its Phase II Non-Muscle Invasive Bladder Cancer (NMIBC) Clinical Study. The report highlights the launch of 11 Clinical Study Sites across Canada and the US, with 21 patients treated to date. Preliminary results show a Complete Response (CR) rate of 33.3% at 90 days and 28.6% at 180 days, with a total response rate of 42.8% and 38.1% respectively. Importantly, patient safety assessments indicate adverse events unrelated to the study drug.

Theralase Technologies Inc. has announced a Collaborative Research Agreement (CRA) with the National Microbiology Laboratory of Canada for the development of a COVID-19 vaccine. The partnership aims to utilize Theralase's patented Photo Dynamic Compounds (PDCs) and proprietary light technology to inactivate the SARS-CoV-2 virus and create vaccine building blocks. The project, named 'Photo Dynamic Compound Inactivation of SARS-CoV-2 Vaccine', is set to start in mid-April 2021. Theralase's collaboration with PHAC leverages their expertise in vaccine development and aims to advance research in anti-viral solutions.

Theralase Technologies Inc. (TLTFF) announced the launch of its Anti-Cancer Therapy (ACT) research centre at the Li Ka Shing Knowledge Institute, effective April 1, 2022. This move, which relocates the research team from the University Health Network, aims to accelerate the development and commercialization of its lead Photo Dynamic Compound, TLD-1433, and its formulation Rutherrin. The centre will enhance collaboration and access to expertise, facilitating advancements in Theralase's pivotal Phase II Non-Muscle Invasive Bladder Cancer clinical study.