Theralase Technologies (TSE:TLT)
:TLT
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Theralase Technologies
(TLT)
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Rating:42Neutral
Price Target:
C$0.21
▼(-24.64% Downside)
Action:Reiterated
Date:05/12/26
The score is primarily weighed down by weak financial performance (declining revenue, persistent large losses, and continued cash burn). Technicals add a modest negative bias with price below key short-term averages and slightly negative MACD, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
Low-to-moderate leverage
Low-to-moderate leverage reduces near-term balance-sheet risk and preserves financial flexibility, giving management more time to advance clinical programs and pursue partnerships without immediate refinancing. This supports sustaining operations over the medium term despite operating losses.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow indicates ongoing cash burn that erodes liquidity and forces reliance on external funding. This limits the company's ability to self-fund R&D and commercialization, increases dilution and refinancing risk, and constrains long-term strategic options.
Read all positive and negative factors
Positive Factors
Negative Factors
Low-to-moderate leverage
Low-to-moderate leverage reduces near-term balance-sheet risk and preserves financial flexibility, giving management more time to advance clinical programs and pursue partnerships without immediate refinancing. This supports sustaining operations over the medium term despite operating losses.
Read all positive factors
Theralase Technologies (TLT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$61.69M
Dividend YieldN/A
Average Volume (3M)121.23K
Price to Earnings (P/E)―
Beta (1Y)-0.37
Revenue Growth-20.99%
EPS Growth9.39%
CountryCA
Employees14
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.01
Shares Outstanding257,058,320
10 Day Avg. Volume149,922
30 Day Avg. Volume121,227
Financial Highlights & Ratios
PEG Ratio1.28
Price to Book (P/B)23.49
Price to Sales (P/S)51.16
P/FCF Ratio-12.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.02
Revenue Forecast (FY)C$1.25M
Theralase Technologies Business Overview & Revenue Model
Company Description
Theralase Technologies Inc., a clinical stage pharmaceutical company, engages in the research and development of photo dynamic compounds (PDCs) and their associated drug formulations to treat cancer, bacteria, and viruses in Canada, the United Sta...
How the Company Makes Money
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Theralase Technologies Earnings Call Summary
Earnings Call Date:May 29, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:May 28, 2026
Earnings Call Sentiment Neutral
The earnings call reflects a company at a pivotal moment, with significant progress in clinical studies and plans for expansion into multiple high-value indications. While the financials show a decline in revenue and increased expenses, the strategic initiatives and successful capital raising efforts position Theralase for future growth.Positive Updates
Completion of Bladder Cancer Study Enrollment
Theralase is on track to complete enrollment in a critical bladder cancer study by the summer of 2025, marking a significant milestone in their clinical development.
Negative Updates
Revenue Decline
Revenue for the first quarter of 2025 was $91,000, down from $175,000 the previous year, reflecting the focus on bladder cancer clinical study completion.
Read all updates
Q1-2025 Updates
Positive
Negative
Completion of Bladder Cancer Study Enrollment
Theralase is on track to complete enrollment in a critical bladder cancer study by the summer of 2025, marking a significant milestone in their clinical development.
Read all positive updates
Company Guidance
During the call, Theralase Technologies provided guidance on several metrics and strategic initiatives. The company is on track to complete enrollment in its registrational bladder cancer study by summer 2025, with a 15-month patient follow-up expected to conclude by the third quarter of 2026. Theralase plans to file a New Drug Application with Health Canada and the FDA in the fourth quarter of 2026, aiming for marketing approval in early 2027. Financially, the company reported nominal revenues of $91,000 for Q1 2025, largely from its Cool Laser Therapy systems, down from $175,000 the previous year. Despite a net loss of $1.47 million, Theralase has raised nearly $7.5 million over the past 24 months through private placements. The company is exploring a potential U.S. uplist and institutional financing, which could enhance its capital position and broaden its investor base. Additionally, Theralase is advancing a pipeline that includes nine new indications, with plans for Phase I/II clinical studies in 2026. The company highlighted a 62% complete response rate in its bladder cancer study, emphasizing the safety and efficacy of its Ruvidar treatment.Theralase Technologies Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
54
Neutral
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 816.47K | 1.03M | 1.07M | 1.14M | 780.64K |
| Gross Profit | 241.51K | 554.03K | 562.13K | 628.17K | 309.94K |
| EBITDA | -3.91M | -3.96M | -4.25M | -4.90M | -4.31M |
| Net Income | -4.12M | -4.26M | -4.57M | -5.25M | -4.42M |
Balance Sheet | |||||
| Total Assets | 3.49M | 3.25M | 3.28M | 4.16M | 5.94M |
| Cash, Cash Equivalents and Short-Term Investments | 182.91K | 268.76K | 43.91K | 1.51M | 3.69M |
| Total Debt | 458.05K | 293.87K | 386.88K | 473.62K | 35.72K |
| Total Liabilities | 1.72M | 1.18M | 1.37M | 1.07M | 874.79K |
| Stockholders Equity | 1.78M | 2.07M | 1.91M | 3.09M | 5.07M |
Cash Flow | |||||
| Free Cash Flow | -3.33M | -3.35M | -4.11M | -5.20M | -4.13M |
| Operating Cash Flow | -3.29M | -3.33M | -4.07M | -5.13M | -4.03M |
| Investing Cash Flow | -48.94K | -19.97K | -37.27K | -70.41K | -100.82K |
| Financing Cash Flow | 3.25M | 3.57M | 2.65M | 3.02M | -57.37K |
Theralase Technologies Technical Analysis
Negative
0.28
Price Trends
0.29
Negative
0.27
Negative
0.23
Negative
Market Momentum
-0.02
Positive
39.02
Neutral
21.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TLT, the sentiment is Negative. The current price of 0.28 is below the 20-day moving average (MA) of 0.29, below the 50-day MA of 0.29, and above the 200-day MA of 0.23, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 39.02 is Neutral, neither overbought nor oversold. The STOCH value of 21.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TLT.
Theralase Technologies Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | C$343.03M | -11.64 | -75.55% | ― | 57.39% | -2.20% | |
50 Neutral | C$39.09M | -5.70 | -258.64% | ― | 176.72% | 30.90% | |
49 Neutral | C$28.15M | -7.24 | 106.68% | ― | 89.06% | 37.62% | |
47 Neutral | C$19.13M | -20.58 | -31.12% | ― | 6.64% | 26.26% | |
42 Neutral | C$61.69M | -10.14 | -314.74% | ― | -20.99% | 9.39% |
* General Sector Average
TSE:TLT
Theralase Technologies
0.24
0.08
50.00%
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Theralase Technologies Corporate Events
Business Operations and Strategy
Theralase Posts 100% Preclinical Response in Muscle Invasive Bladder Cancer Study
Positive
Apr 13, 2026
Theralase Technologies reported that its X-ray-activated Rutherrin compound achieved a 100% complete response and cancer-free survival in all animals treated in a preclinical orthotopic model of muscle invasive bladder cancer, outperforming both r...
Business Operations and StrategyPrivate Placements and Financing
Theralase Raises C$2.66 Million to Advance Bladder Cancer Drug Programs
Positive
Apr 10, 2026
Theralase Technologies has raised C$2.66 million through a non-brokered private placement of 6,404,700 units and a C$1 million revolving line of credit with Desjardins, issuing common shares and five-year warrants and paying a modest finder’...
Business Operations and StrategyProduct-Related Announcements
Theralase Uncovers New Antiviral Mechanism for Ruvidar Against Herpes Virus
Positive
Mar 17, 2026
Theralase Technologies has identified an additional mechanism by which its lead compound Ruvidar inactivates herpes simplex virus type 1, adding to earlier data showing the drug outperforms standard therapy Acyclovir in preclinical testing. The co...
Business Operations and StrategyPrivate Placements and Financing
Theralase Raises C$1.1 Million to Advance Bladder Cancer Trial
Positive
Mar 10, 2026
Theralase Technologies has closed a non-brokered private placement of 4,230,770 units at C$0.26 per unit, raising gross proceeds of C$1.1 million to support its ongoing Phase II clinical trial in non-muscle invasive bladder cancer, as well as work...
Business Operations and StrategyProduct-Related Announcements
Theralase’s Rutherrin Boosts Radiation Efficacy in Muscle Invasive Bladder Cancer Models
Positive
Mar 9, 2026
Theralase Technologies has reported new preclinical data showing that its X-ray-activated Rutherrin compound significantly boosts the effectiveness of radiation therapy in destroying muscle invasive bladder cancer in mouse models. The data indicat...
Business Operations and StrategyProduct-Related Announcements
Theralase Preclinical Data Backs Ruvidar–Interferon Combo for Bladder Cancer
Positive
Mar 2, 2026
Theralase Technologies has reported preclinical in vitro results showing that combining its light-activated Ruvidar molecule with recombinant human interferon alpha-2b produces significantly higher bladder cancer cell kill than either treatment al...
Business Operations and StrategyProduct-Related Announcements
Theralase Preclinical Data Backs Ruvidar–Interferon Combo in Bladder Cancer
Positive
Mar 2, 2026
Theralase Technologies reported new preclinical data showing that its light-activated Ruvidar molecule, when combined with recombinant human interferon alpha-2b, significantly increased bladder cancer cell death in vitro. In T24 human bladder canc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.