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Theralase Technologies (TLT) investor relations material
Theralase Technologies Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for the six months ended June 30, 2025, increased 12% year-over-year to $310,933, driven by higher Canadian sales, while US and international sales declined significantly.
Net loss for the period was $2,423,234, slightly higher than the $2,400,461 loss in the prior year, with the Drug Division accounting for 79% of the loss.
The company continues to invest heavily in R&D, particularly in its Drug Division, advancing late-stage clinical trials for Ruvidar® in bladder cancer and preclinical programs for other oncology indications.
Material uncertainties exist regarding the company's ability to continue as a going concern, with ongoing reliance on external financing and negative working capital.
Financial highlights
Gross margin improved to 42% of revenue (up from 33% in 2024), as cost of sales decreased to 58% of revenue.
Operating expenses totaled $2,594,791, with R&D representing 57% of total operating costs.
Cash and cash equivalents at June 30, 2025, were $46,325, down from $268,757 at year-end 2024.
Shareholders’ equity declined to $1,276,397 from $2,067,448 at December 31, 2024.
Net investment in leases was $1,359,590, with 88 active contracts and timely payments.
Outlook and guidance
Management plans to complete full enrollment of 90 patients in the Phase II bladder cancer study by Q3 2025, with final data and regulatory submissions targeted for 2026.
The company is actively seeking additional financing and exploring strategic partnerships for commercialization.
Ongoing R&D will focus on expanding the oncology pipeline, including clinical translation of Rutherrin® for multiple cancer indications.
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