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Theralase Technologies ( (TSE:TLT) ) just unveiled an update.
Theralase Technologies Inc. has successfully closed a non-brokered private placement, raising approximately $CAN 672,627 through the issuance of 3,363,134 units. The proceeds will be used to advance their Phase II Non-Muscle Invasive Bladder Cancer clinical study, develop Rutherrin®, and for general corporate purposes. The offering is subject to final acceptance from the TSX Venture Exchange and includes related party transactions with certain insiders. The securities issued will be subject to a hold period under Canadian securities laws.
Spark’s Take on TSE:TLT Stock
According to Spark, TipRanks’ AI Analyst, TSE:TLT is a Neutral.
Theralase Technologies faces substantial financial difficulties, reflected in its low financial performance score. While there are strategic initiatives and positive technical indicators, these are overshadowed by ongoing losses and negative cash flows. The valuation remains unattractive due to the lack of profitability, and the earnings call indicates significant financial challenges that must be addressed.
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. Their primary objective is to develop treatments that effectively destroy various cancers, bacteria, and viruses while minimizing impact on healthy tissue.
Average Trading Volume: 73,754
Technical Sentiment Signal: Sell
Current Market Cap: C$52.67M
For detailed information about TLT stock, go to TipRanks’ Stock Analysis page.