Theralase Technologies (TSE:TLT)
:TLT
Top Page
Theralase Technologies
(TLT)
Select Model
Select Model
Rating:46Neutral
Price Target:
C$0.25
▼(-7.41% Downside)
Action:ReiteratedDate:01/14/26
The score is held down primarily by weak financial performance—very large losses versus a small and declining revenue base, ongoing cash burn, and substantial equity erosion. Technicals provide some support with strong recent momentum (price above major moving averages and positive MACD), but elevated RSI suggests the move may be stretched. Valuation remains unattractive due to negative earnings and no dividend yield.
Positive Factors
Proprietary technology/IP
Theralase's proprietary laser technology and drug formulations represent a durable competitive asset. IP-backed device-drug combos can create high entry barriers, support licensing or institutional partnerships, and underpin long-term revenue if clinical adoption and reimbursement progress.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow materially shortens runway and raises dilution or refinancing risk. Structural cash burn forces management to secure capital or cut investment, which can slow commercialization and damage long-term competitive positioning.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary technology/IP
Theralase's proprietary laser technology and drug formulations represent a durable competitive asset. IP-backed device-drug combos can create high entry barriers, support licensing or institutional partnerships, and underpin long-term revenue if clinical adoption and reimbursement progress.
Read all positive factors
Theralase Technologies (TLT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$69.41M
Dividend YieldN/A
Average Volume (3M)121.23K
Price to Earnings (P/E)―
Beta (1Y)-0.32
Revenue Growth1.46%
EPS Growth6.91%
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 Ratio1.00
Price to Book (P/B)30.77
Price to Sales (P/S)61.56
P/FCF Ratio-19.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$0.70Price Target Upside159.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
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
Theralase generates revenue primarily through the commercialization of its proprietary laser systems and photodynamic therapy products. This includes the sale of medical devices, treatment protocols, and related consumables to healthcare providers...
Theralase Technologies Earnings Call Summary
Earnings Call Date:May 29, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 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
46
Neutral
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.00M | 1.03M | 1.07M | 1.14M | 780.64K | 929.12K |
| Gross Profit | 493.77K | 554.03K | 562.13K | 628.17K | 309.94K | 269.68K |
| EBITDA | -4.07M | -3.96M | -4.25M | -4.90M | -4.31M | -5.56M |
| Net Income | -4.35M | -4.26M | -4.57M | -5.25M | -4.42M | -5.61M |
Balance Sheet | ||||||
| Total Assets | 3.00M | 3.25M | 3.28M | 4.16M | 5.94M | 10.02M |
| Cash, Cash Equivalents and Short-Term Investments | 80.99K | 268.76K | 43.91K | 1.51M | 3.69M | 7.88M |
| Total Debt | 319.72K | 293.87K | 386.88K | 473.62K | 35.72K | 92.34K |
| Total Liabilities | 1.91M | 1.18M | 1.37M | 1.07M | 874.79K | 857.13K |
| Stockholders Equity | 1.09M | 2.07M | 1.91M | 3.09M | 5.07M | 9.16M |
Cash Flow | ||||||
| Free Cash Flow | -2.61M | -3.35M | -4.11M | -5.20M | -4.13M | -4.61M |
| Operating Cash Flow | -2.52M | -3.33M | -4.07M | -5.13M | -4.03M | -4.45M |
| Investing Cash Flow | -97.89K | -19.97K | -37.27K | -70.41K | -100.82K | -164.58K |
| Financing Cash Flow | 2.36M | 3.57M | 2.65M | 3.02M | -57.37K | -57.56K |
Theralase Technologies Technical Analysis
Negative
0.27
Price Trends
0.28
Negative
0.23
Positive
0.22
Positive
Market Momentum
<0.01
Positive
47.10
Neutral
42.68
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 0.27 is below the 20-day moving average (MA) of 0.28, below the 50-day MA of 0.28, and above the 200-day MA of 0.22, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.10 is Neutral, neither overbought nor oversold. The STOCH value of 42.68 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% | |
50 Neutral | C$21.58M | -5.28 | 106.68% | ― | 28.59% | 23.46% | |
46 Neutral | C$69.41M | -11.76 | -269.41% | ― | 1.46% | 6.91% | |
46 Neutral | C$21.31M | -29.60 | -31.12% | ― | 9.71% | -118.02% | |
46 Neutral | C$329.55M | -5.47 | -85.73% | ― | 72.03% | -1.47% | |
42 Neutral | C$41.62M | -1.50 | -220.14% | ― | 209.29% | 35.38% |
* General Sector Average
TSE:TLT
Theralase Technologies
0.27
0.10
58.82%
TSE:ASG
Aurora Spine
0.27
-0.05
-14.69%
TSE:IME
Imagin Medical
0.02
0.00
0.00%
TSE:PINK
Perimeter Medical Imaging AI
0.33
-0.10
-24.14%
TSE:PRN
Profound Medical
9.08
2.39
35.72%
TSE:VPT
VentriPoint Diagnostics
0.12
-0.03
-17.86%
Theralase Technologies Corporate Events
Business Operations and StrategyProduct-Related Announcements
Theralase and Ferring Launch Combination Trial for BCG-Unresponsive Bladder Cancer
Positive
Jan 12, 2026
Ferring Pharmaceuticals and Theralase Technologies have signed a clinical development agreement to test a combination therapy using Ferring’s FDA-approved intravesical gene therapy ADSTILADRIN and Theralase’s investigational light-acti...
Business Operations and StrategyPrivate Placements and Financing
Theralase Raises C$1.3 Million to Advance Bladder Cancer Trial
Positive
Dec 23, 2025
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 y...
Business Operations and StrategyPrivate Placements and Financing
Theralase Launches Private Placement to Fund Cancer Research
Positive
Dec 12, 2025
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 ...
Business Operations and StrategyPrivate Placements and Financing
Theralase Technologies Secures Funding to Advance Cancer Treatment Study
Positive
Nov 24, 2025
Theralase Technologies Inc. has announced a brokered private placement offering to raise between C$4.5 million and C$5.5 million, with Research Capital Corporation as the sole agent. The funds will primarily support a Phase II clinical study for n...
Financial DisclosuresPrivate Placements and Financing
Theralase Reports Promising Cancer Study Results Amid Financial Challenges
Neutral
Nov 17, 2025
Theralase Technologies Inc. has announced an investor conference call to update on its Phase II clinical study for BCG-Unresponsive Non-Muscle Invasive Bladder Cancer. The study shows promising interim results, with a 64.3% complete response rate ...
Financial DisclosuresPrivate Placements and Financing
Theralase Technologies Reports Q3 2025 Financials and Clinical Progress
Neutral
Nov 10, 2025
Theralase Technologies Inc. has released its unaudited financial statements for the third quarter of 2025, reporting a 5% decrease in total revenue compared to the previous year. Despite a slight decrease in gross margin and an increase in net los...
Business Operations and StrategyProduct-Related Announcements
Theralase’s Rutherrin® Shows Promise in Preclinical Cancer Treatment
Positive
Nov 3, 2025
Theralase Technologies announced promising preclinical results for their X-Ray-activated drug, Rutherrin®, which has shown significant effectiveness in treating various cancers. The drug, when activated by radiation therapy, demonstrated enha...
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.