Theralase Releases 1Q2014 Financial Results
31 5월 2014 - 6:12AM
Access Wire
Toronto, Ontario / ACCESSWIRE / May 30, 2014 -- Theralase Technologies Inc. ("Theralase") (TSXV: TLT) (OTCBB: TLTFF)
released its first quarter 2014 financial results today,
demonstrating a slight increase in revenue for the three month
period ended March 31, 2014, edging up 5% year over year, while
successfully advancing its patented next generation therapeutic
laser and cancer destruction technologies.
Total revenue for the
three-month period ended March 31, 2014 increased 5% from $342,900
to $361,179 year over year.
The net loss for
the three-month period ended March 31, 2014 was
$344,074 (including $15,897 of net non-cash expenses) compared to a
net loss of $332,435 in the same period in 2013 (including $56,829
of net non-cash expenses), a 3.5% increase.
The net loss reflects the
ongoing commitment of Theralase to invest in the next generation of
therapeutic laser and cancer destruction technologies, from
existing therapeutic laser sales.
Selling and marketing expenses
increased 12% from $109,391 to $122,278 for the same period in
2013, due primarily to increased spending on product marketing and
travel costs.
Administrative expenses
decreased 4% from $249,767 to $240,373 for the same period in 2013,
due to reductions in administrative personnel and stock based
compensation.
Research
and development costs decreased 1% from
$199,597 to $197,792
for the same period in 2013. The slight decrease reflects the
approaching completion of the development of the patented TLC-2000
therapeutic laser technology and the ramp-up in the research and
development costs associated with the cancer destruction
technology.
Roger Dumoulin-White,
President and CEO of Theralase stated that, "The Company is
on-track to launch the next generation therapeutic laser technology
in 4Q2014 in Canada. The patented TLC-2000 biofeedback therapeutic
laser technology has been researched and designed to revolutionize
the therapeutic laser industry, by providing patient specific
treatments that adapt to a patient's physical characteristics
delivering best-in-class performance in the elimination of pain,
reduction in inflammation and dramatic acceleration of tissue
healing. The medical community and especially the patients who
suffer from pain and inflammation on a daily basis have been
waiting for a technology of this efficacy and performance to enter
the market for a long time."
Mr. Dumoulin-White went on to
say, "Our patented cancer technology is demonstrating significant
success in preclinical research and is on track for clinical
evaluation in humans for bladder cancer as early as 1Q2015.
If our PDC technology, with its recent advances in providing
an immune-mediated "memory response" in the destruction of cancer
is proven effective in cancer patients, the implications of this
discovery are nothing short of game changing for both Theralase and
for the cancer patients, who are inflicted with this deadly
disease. The ability to destroy the original cancer and at the same
time program the body's immune system to prevent its recurrence,
after only a single treatment, is nothing short of miraculous. The
scientific, clinical and engineering teams at UHN, Acadia and
Theralase are all fully dedicated to bringing the Theralase
anti-cancer PDC technology to the forefront of clinical treatment,
as soon as possible, in order to help eradicate the world of cancer
and assist cancer patients."
In order to help facilitate
the launch of these two ground breaking technologies in 2014 and
2015, the Company closed a $3.15 M private placement on November 7,
2013, issuing 21,000,000 Units to investors at a price
of $0.15 per Unit. Each Unit consisted of one common share in the
capital of the Company and one non-transferable common share
purchase warrant. Each whole Warrant will entitle the purchaser to
purchase one additional common share in the capital of the Company
until November 7, 2015 at a price of $0.20.
About Theralase Technologies Inc.
Theralase Technologies Inc.
designs, manufactures and markets patented, superpulsed laser
technology used in healing injured tissue and destroying cancer.
Theralase technology is safe and effective in eliminating pain,
reducing inflammation and dramatically accelerating tissue
regeneration of numerous nerve, muscle and joint
injuries. Theralase is actively developing patented
technology that is able to target and destroy cancers, bacteria and
viruses when light activated.
The complete interim
consolidated financial statements and MD&A for the three month
period ended March 31, 2014 may be viewed at www.theralase.com
and www.sedar.com .
This press release contains
forward-looking statements, which reflect the Company's current
expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could
differ materially from those projected herein. The Company
disclaims any obligation to update these forward-looking
statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchanges) accepts responsibility for
the adequacy or accuracy of this release.
For More Information, please
contact:
Roger Dumoulin-White,
President and CEO, Theralase Technologies Inc.
1.866.THE.LASE (843.5273) x 225
416-699-LASE (5273) x 225
rwhite@theralase.com
www.theralase.com
Kristina Hachey
Chief Financial Officer, Theralase Technologies
Inc.
1.866.THE.LASE (843.5273) x 224
416-699-LASE (5273) x 224
khachey@theralase.com
www.theralase.com
Theralase Technologies (TSXV:TLT)
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