Theralase Technologies loses $3.43-million in Q3

Executive Summary

• Theralase Technologies reported Q3 2025 unaudited financial results showing a modest revenue decline and an increased net loss of $3.44 M for the nine‑month period.
• The company completed a non‑brokered private placement on July 28 2025, raising $672,627 by issuing 3,363,134 units at $0.20 each, each unit including one common share and one warrant.
• Clinical Study II is near completion with 88 of 90 patients treated; interim data show a 64.3% complete response rate and 72.6% total response rate among evaluable patients.

Key Details

• Financial Highlights (9‑month ended Sept 30, 2025 vs. 2024):
• Revenue: $590,573 (‑5%)
• Cost of sales: $299,743 (‑10%) → Gross margin $290,830 (≈49% of revenue)
• Selling expenses: $212,421 (‑18%)
• Administrative expenses: $1,444,687 (+12%) – driven by G&A, professional fees, stock‑based compensation
• R&D expenses: $2,116,540 (+1%)

• Net loss: $3,435,145 (+3%); includes $708,521 non‑cash charges (amortization & stock‑based comp)

• Private Placement (July 28 2025):

• Units issued: 3,363,134
• Price per unit: $0.20
• Gross proceeds: $672,627

• Unit composition: 1 common share + 1 non‑transferable warrant (exercise price $0.30, 5‑year term)

• Warrant Extension (Aug 29 2025):

• Extended expiry for 1.84 M warrants (originally issued Sept 7 2023) to Sept 30 2028; exercise price $0.35 per share.

• Short‑Term Loans (as of Nov 7 2025):

• Total outstanding: $280,000 (including $100,000 to related parties)
• Interest rate: 15% per annum

• Maturity: within one year

• Study II Clinical Update (as of Nov 7 2025):

• Patients treated: 88/90 (97.8%)
• Completed or withdrawn: 72 patients
• Pending completion: 16 patients

• Interim efficacy:

  • Complete response (CR) – 54/84 patients (64.3%)
  • Total response (CR + IR) – 61/84 patients (72.6%)
  • At 450‑day assessment: 18/45 patients (40%) maintained CR; 19/45 patients (42.2%) maintained total response (TR)

• Future Milestones:

• Expected enrolment completion: Q4 2025
• Data lock & regulatory submissions: Q1 2027

Notable Quotes

(No direct quotes provided in the release.)