The following is a summary of the Theralase Technologies Inc. (TLTFF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Theralase Technologies Inc. reported a revenue decrease for the nine-month period of 2024, totaling CAD622,984, which is a 12% decrease compared to the previous year.

• The gross margin percentage has decreased year-over-year to 47% due to increased material costs.

• Administrative expenses decreased by 11% due to reduced general and administrative expenses and professional fees.

• There was a 7% year-over-year reduction in net loss for 2024, with the drug division representing 84% of this loss.

Business Progress:

• Theralase is focusing on expanding enrollment in their Phase II bladder cancer study and expects to add up to five new clinical study sites in late 2024 to early 2025.

• The company has also initiated preparations to commence Phase I clinical studies for brain, lung, and blood-based cancers in 2025.

• Plans for a topical ointment for herpes simplex lesions and a vaccine for avian influenza are underway.

Opportunities:

• Theralase is leveraging data from Phase II bladder cancer clinical studies for potential FDA and Health Canada regulatory marketing approval.

• The company aims for strategic partnership opportunities after the potential approval to aid in commercializing their next standard-of-care treatment for bladder cancer.

• Potential opportunities for expanding into treatments for brain cancer, lung cancer, and blood cancers leveraging the growth in global markets for these diseases.

Risks:

• Theralase anticipates a need for significant funding to complete its ongoing and planned clinical studies, with an estimated cost of CAD15 million to CAD30 million for the Phase II bladder cancer clinical study alone.

• Regulatory risks related to obtaining necessary approvals from Health Canada and the FDA for their products are also present.

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