The following is a summary of the Theralase Technologies Inc. (TLTFF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Theralase Technologies reported a 6% YoY decrease in sales to $1.07 million.
Cost of sales was $510,000 or 47% of sales, allowing for a gross margin of $462,000 or 53% of sales.
Selling expenses saw a decrease of 7% attributed to reductions in sales salaries and advertising.
Administrative expenses marked a 48% YoY rise due to increased costs towards stock-based compensation, investor relations, general and admin expenses, and director and advisory fees.
A marked decrease of 30% in R&D costs due to less expenditure on their bladder cancer clinical study.
The company experienced a net loss of $4.57 million, marking a 13% YoY decrease.
The completion of four non-brokered private placements led to increased capital in 2023 and 2024.
Business Progress:
The company plans to complete accrual for its Phase II bladder cancer study by the end of 2024.
Concurrently developing a therapy for bladder cancer, showing promising clinical trials with high efficacy and safety rates.
A pre-BTD submission is expected to submit to FDA in Q2 of 2024.
Engagement with various pharmaceutical organizations for potential partnerships is underway.
Preparation for a Phase 1b clinical study for brain and lung cancer is in progress, pending regulatory approval.
Current collaboration with the University of Manitoba and National Microbiology Laboratory towards developing a COVID-19 vaccine, with results expected by Q2 or Q3, 2024.
More details: THERALASE TECHNOLOGIES INC IR
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