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Theralase Technologies ( (TSE:TLT) ) just unveiled an announcement.
Theralase Technologies Inc. has initiated a non-brokered private placement to raise up to $CAN 2,000,000, with each unit priced at $CAN 0.17. The proceeds will support the ongoing Phase II clinical study for Non-Muscle Invasive Bladder Cancer and meet working capital needs. The company has also terminated a previously announced brokered financing agreement. This move is expected to bolster Theralase’s financial resources, aiding its research and development efforts in cancer treatment, and potentially strengthening its market position.
The most recent analyst rating on (TSE:TLT) stock is a Hold with a C$0.15 price target. To see the full list of analyst forecasts on Theralase Technologies stock, see the TSE:TLT Stock Forecast page.
Spark’s Take on TSE:TLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:TLT is a Neutral.
Theralase Technologies’ overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. However, positive corporate events provide some optimism for future growth, partially offsetting the negative financial outlook.
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 small molecule compounds. The company aims to effectively and safely destroy various cancers, bacteria, and viruses with minimal impact on surrounding healthy tissue.
Average Trading Volume: 156,453
Technical Sentiment Signal: Sell
Current Market Cap: C$41.13M
For an in-depth examination of TLT stock, go to TipRanks’ Overview page.