Theralase Releases 2Q2024 Financial Statements

Theralase Technologies Inc. unveiled its unaudited financial statements for the six months ending June 30, 2024. The company will hold a conference call on August 21, 2024, to discuss these results. Financial highlights include a 35% decrease in total revenue year-over-year and a net loss of $2.4 million, a reduction from $2.56 million in 2023.

Operationally, the company closed multiple private placements, raising significant capital. The firm also progressed in Study II for a light-activated cancer treatment, enrolling 72 patients and showing promising interim results. 63% of patients achieved complete response, with no serious adverse events directly related to the study drug or device.

Theralase continues to secure funding and aims to complete Study II enrollments by year-end 2024, with regulatory submissions planned for 2026.