On August 28, 2025 Theralase Technologies Inc. (TSXV: TLT) (OTCQB: TLTFF) ("Theralase" or the "Company"), a clinical stage pharmaceutical pioneering light, radiation, sound and drug-activated therapeutics for the treatment of cancer, bacteria and viruses reported it has released the Company’s unaudited condensed consolidated interim 2Q2025 financial statements ("Financial Statements") (Press release, Theralase, AUG 28, 2025, View Source [SID1234655555]).
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Theralase will be hosting a conference call on Wednesday, September 3rd at 11:00 am ET, which will include a presentation of the financial and operational results for the fiscal quarter ending June 30th, 2025. Questions are welcome. To ensure we have time to review and properly address them during the call, please send them in advance to [email protected].
Zoom Meeting Link: View Source
Webinar ID: 872 0348 0163
Conference Call in: 1-647-558-0588 (Canada) / 1-646-558-8656 (US) – not required for those attending by Zoom
An archived version will be available on the website following the conference call.
Financial Highlights
For the six-month period ended June 30, 2025 versus June 30, 2024:
Total revenue increased 12% to $310,933 from $276,401
Cost of sales decreased 4% to $178,966 (58% of revenue) from $186,324 (67% of revenue)
Gross margin increased 47% to $131,967 (42% of revenue) from $90,077 (33% of revenue)
Selling expenses decreased 5% to $139,011 from $145,915
Administrative expenses increased 10% to $995,333 from $907,378, driven primarily by increases in general and administrative expenses, administrative salaries and stock-based compensation
Research and development expenses increased 1% to $1,460,447 from $1,450,086, reflecting increased activity to support Study II progress
Net loss for the period increased 1% to $2,423,235 from $2,400,461. This included $471,174 in non-cash charges such as amortization and stock-based compensation.
Operational Highlights
Private Placements:
On April 14, 2025, the Company completed a non-brokered private placement, issuing 1,995,829 units at $0.21 per unit for gross proceeds of $419,124. Each unit included one common share and one non-transferable common share purchase warrant exercisable at $0.32 for five years.
On June 17, 2025, the Company completed a non-brokered private placement, issuing 2,855,000 units at $0.20 per unit for gross proceeds of $571,000. Each unit included one common share and one non-transferable common share purchase warrant exercisable at $0.30 for five years.
On July 28, 2025, the Company completed a non-brokered private placement, issuing 3,363,134 units at $0.20 per unit for gross proceeds of $672,627. Each unit included one common share and one non-transferable common share purchase warrant exercisable at $0.30 for five years.
Warrant Extension:
On June 26, 2025, the Company extended the expiry date of 4,800,000 warrants, all of which are exercisable at $0.35 per share. The warrants were issued on June 30, 2023, pursuant to a private placement involving the issuance of 4,800,000 units of the Company. The new expiry date of the warrants is June 30, 2028.
The Company continues to explore additional equity and non-dilutive funding opportunities to support its clinical and commercial milestones.
Study II Update:
As of August 26, 2025:
86 patients have been treated with the primary Study Procedure, representing approximately 96% of the total targeted enrollment of 90 patients.
70 patients have completed the clinical study being assessed at all assessment visits or have been prematurely removed from the clinical study by the principal investigator for lack of response
16 additional patients are pending study completion.
Interim clinical results indicate:
61.4% (43/70) patients achieved a Complete Response ("CR") at any point in time
70% (49/70) achieved a Total Response (CR + Indeterminate Response ("IR")) (IR = negative cystoscopy with positive urine cytology, without a confirmatory bladder biopsy)
At the 450-day assessment, 39.5% (17/43) of patients maintained a CR, indicating strong durability of treatment effect.
Theralase remains on track to complete enrollment in 3Q2025, with data lock targeted for 4Q2026 and regulatory submissions expected in 4Q2026.
For additional information, please refer to the Company’s Management’s Discussion and Analysis ("MD&A") available at www.sedarplus.ca.
About Ruvidar:
Ruvidar (TLD-1433) is a small molecule, able to be activated by light, radiation, sound and other drugs, intended for the safe and effective destruction of cancer, bacteria and viruses.