Theralase Technologies Secures $CAN 419,124 in Private Placement to Boost Cancer and Virus Research

Theralase Technologies ( (TSE:TLT) ) just unveiled an announcement.

Theralase Technologies Inc. has successfully closed a non-brokered private placement, raising $CAN 419,124 through the issuance of 1,995,829 units. The proceeds will be used to advance their Phase II clinical study on Non-Muscle Invasive Bladder Cancer, research on Herpes Simplex Virus treatment, and development of Rutherrin® for various solid-core tumors. This financing move is expected to bolster the company’s ongoing research and development efforts, potentially enhancing its position in the pharmaceutical industry.

Spark’s Take on TSE:TLT Stock

According to Spark, TipRanks’ AI Analyst, TSE:TLT is a Neutral.

Theralase Technologies’ overall stock score reflects financial struggles with declining revenues and persistent losses. While recent clinical advancements and corporate events are promising, these are overshadowed by ongoing financial and fundraising challenges. The stock’s technical indicators and valuation metrics further highlight its current unattractiveness in the market.

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. These are intended for the safe and effective destruction of various cancers, bacteria, and viruses.

YTD Price Performance: -25.45%

Average Trading Volume: 118,109

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$50.79M

See more data about TLT stock on TipRanks’ Stock Analysis page.