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Theralase Technologies ( (TSE:TLT) ) has issued an update.
Theralase Technologies Inc. has successfully completed a non-brokered private placement, raising approximately $CAN 571,000 through the issuance of 2,855,000 units. The funds will be used to advance their Phase II clinical study on Non-Muscle Invasive Bladder Cancer, develop Rutherrin®, and for general corporate purposes. The offering included related party transactions, with certain insiders participating, and is subject to final acceptance from the TSX Venture Exchange.
Spark’s Take on TSE:TLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:TLT is a Neutral.
Theralase Technologies’ overall stock score is mainly impacted by its challenging financial performance, highlighted by persistent losses and negative cash flows, which weigh heavily on its valuation. The technical indicators suggest a neutral trend without significant momentum. While strategic clinical advancements are notable, financial hurdles remain a primary concern.
To see Spark’s full report on TSE:TLT stock, click here.
More about Theralase Technologies
Theralase Technologies Inc. is a clinical stage pharmaceutical company focused on the research and development of light, radiation, sound, and drug-activated therapeutics. The company aims to treat cancer, bacteria, and viruses with minimal impact on healthy tissue.
Average Trading Volume: 85,260
Technical Sentiment Signal: Sell
Current Market Cap: C$50.16M
See more insights into TLT stock on TipRanks’ Stock Analysis page.