Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Theralase Technologies ( (TSE:TLT) ) has provided an announcement.
Theralase Technologies has closed a non-brokered private placement of 7,850,882 units at C$0.17 per unit, raising gross proceeds of approximately C$1.33 million. Each unit comprises one common share and one warrant exercisable at C$0.21 for five years, with the funds earmarked primarily to advance the company’s Phase II clinical study in non-muscle invasive bladder cancer, as well as for working capital and general corporate purposes. The financing, which includes finder fees paid in cash, shares and additional warrants, remains subject to final TSX Venture Exchange approval, and all securities issued will be subject to a standard Canadian hold period, underscoring both the company’s ongoing capital needs and its commitment to progress its cancer therapy pipeline.
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 is a Toronto-based clinical-stage pharmaceutical company specializing in the research and development of light, radiation, sound and drug-activated small molecule therapeutics. Its primary focus is on achieving effective and safe destruction of various cancers, bacteria and viruses with minimal damage to surrounding healthy tissue, positioning the firm within the oncology and infectious disease treatment markets.
Average Trading Volume: 162,016
Technical Sentiment Signal: Sell
Current Market Cap: C$39.84M
Find detailed analytics on TLT stock on TipRanks’ Stock Analysis page.